In the last trading session, 5.31 million shares of the Hut 8 Corp (NASDAQ:HUT) were traded, and its beta was 3.96. Most recently the company’s share price was $16.99, and it changed around -$1.47 or -7.96% from the last close, which brings the market valuation of the company to $1.77B. HUT currently trades at a discount to its 52-week high of $31.95, offering almost -88.05% off that amount. The share price’s 52-week low was $8.73, which indicates that the current value has risen by an impressive 48.62% since then. We note from Hut 8 Corp’s average daily trading volume that its 10-day average is 6.02 million shares, with the 3-month average coming to 6.19 million.
Hut 8 Corp stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 16 analysts rate the stock as a Sell; another 7 rate it as Overweight. Among the rest, 0 recommended HUT as a Hold, whereas 9 deemed it a Buy, and 0 rated it as Underweight. Hut 8 Corp is expected to report earnings per share of -0.16 for the current quarter.
Hut 8 Corp (NASDAQ:HUT) trade information
Instantly HUT has showed a red trend with a performance of -7.96% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 18.94 on recent trading dayincreased the stock’s daily price by 10.3%. The company’s shares are currently down -17.08% year-to-date, but still down -8.31% over the last five days. On the other hand, Hut 8 Corp (NASDAQ:HUT) is -0.82% down in the 30-day period. We can see from the shorts that 15.01 million shares have been sold at a short interest cover period of 1.99 day(s).
The consensus price target as assigned by Wall Street analysts is $20, which translates to bulls needing to increase their stock price by 15.05% from its current value. Analyst projections state that HUT is forecast to be at a low of $20 and a high of $33.
Hut 8 Corp (HUT) estimates and forecasts
The year-over-year growth rate is expected to be 40.00%, up from the previous year.
Consensus estimates provided by 12 financial analysts predict the company will bring in an average of 49.1M in revenue for the current quarter. 12 analysts expect Hut 8 Corp to make 71.88M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 35.22M and 43.73M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 39.44%. Forecasts for the next quarter put sales growth at 64.35%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 105.42%.
HUT Dividends
Hut 8 Corp’s next quarterly earnings report is expected to be released on 2025-May-07.
Hut 8 Corp (NASDAQ:HUT)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 52.90% of Hut 8 Corp shares, and 63.07% of them are in the hands of institutional investors. The stock currently has a share float of 133.90%. Hut 8 Corp stock is held by 308.0 institutions, with BLACKROCK INC. being the largest institutional investor. By 2024-06-30, it held 6.955% of the shares, which is about 6.27 million shares worth $94.03 million.
VANGUARD GROUP INC, with 6.2121% or 5.6 million shares worth $83.99 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
