Hut 8 Corp [HUT] stock is trading at $19.52, up 7.67%. An important factor to consider is whether the stock is rising or falling in short-term value. The HUT shares have gain 15.09% over the last week, with a monthly amount glided 63.21%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Hut 8 Corp [NASDAQ: HUT] stock has seen the most recent analyst activity on May 16, 2024, when Craig Hallum upgraded its rating to a Buy but kept the price target unchanged to $12 for it. Previously, The Benchmark Company started tracking the stock with Buy rating on April 22, 2024, and set its price target to $12. On March 18, 2024, Needham initiated with a Buy rating and assigned a price target of $12 on the stock. H.C. Wainwright downgraded its rating to a Sell but stick to its price target of $5.50 on February 06, 2024. Craig Hallum downgraded its rating to Hold for this stock on November 11, 2022, and downed its price target to $2. In a note dated August 17, 2022, DA Davidson downgraded an Neutral rating on this stock.
Hut 8 Corp [HUT] stock has fluctuated between $6.18 and $21.10 over the past year. Currently, Wall Street analysts expect the stock to reach $13.5 within the next 12 months. Hut 8 Corp [NASDAQ: HUT] shares were valued at $19.52 at the most recent close of the market. An investor can expect a potential drop of -30.84% based on the average HUT price forecast.
Analyzing the HUT fundamentals
Hut 8 Corp [NASDAQ:HUT] reported sales of 117.59M for the trailing twelve months, which represents a growth of 267.92%. Gross Profit Margin for this corporation currently stands at -0.01% with Operating Profit Margin at 1.42%, Pretax Profit Margin comes in at 1.4%, and Net Profit Margin reading is 1.45%. To continue investigating profitability, this company’s Return on Assets is posted at 0.49, Equity is 0.27 and Total Capital is 0.51. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 6.14.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 18.12 points at the first support level, and at 16.72 for the second support level. However, for the 1st resistance point, the stock is sitting at 20.49, and for the 2nd resistance point, it is at 21.46.
Ratios To Look Out For
For context, Hut 8 Corp’s Current Ratio is 0.31. On the other hand, the Quick Ratio is 0.31, and the Cash Ratio is 1.13. Considering the valuation of this stock, the price to sales ratio is 15.00, the price to book ratio is 2.36 and price to earnings (TTM) ratio is 12.09.
Transactions by insiders
Recent insider trading involved Visram Shenif, Chief Financial Officer, that happened on May 09 ’24 when 17905.0 shares were sold. Chief Executive Officer, Leverton Jaime completed a deal on Jan 12 ’24 to sell 35761.0 shares. Meanwhile, Chief Executive Officer Leverton Jaime sold 98724.0 shares on Dec 22 ’23.
