The trading price of Hut 8 Corp (NASDAQ:HUT) closed higher on Monday, April 22, closing at $9.22, 14.53% higher than its previous close.
In examining the 52-week price action we see that the stock hit a 52-week high of $22.75 and a 52-week low of $6.18. Over the past month, the stock has gained 3.83% in value.
Hut 8 Corp, whose market valuation is $822.79 million at the time of this writing. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by $0.77 per share this quarter, however they have predicted annual earnings per share of $0.57 for 2024 and -$0.51 for 2025. It means analysts are expecting annual earnings per share growth of 128.00% this year and -189.50% next year.
Analysts have forecast the company to bring in revenue of $46.84 million for the current quarter, with the likely lows of $28.8 million and highs of $59.72 million. The average estimate suggests sales will likely up by 120.90% this quarter compared to what was recorded in the comparable quarter last year. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2024 is $161.2 million. The company’s revenue is forecast to grow by 71.30% over what it did in 2024.
A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Hut 8 Corp 1 upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest HUT has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.
A quick review shows that HUT’s price is currently 4.01% off the SMA20 and 7.26% off the SMA50. The RSI metric on the 14-day chart is currently showing 56.40, and weekly volatility stands at 8.43%. When measured over the past 30 days, the indicator reaches 8.86%. Hut 8 Corp (NASDAQ:HUT)’s beta value is currently sitting at 3.02, while the Average True Range indicator is currently displaying 0.80.
To see how Hut 8 Corp stock has been performing in comparison to its peers in the industry, here are the numbers: HUT stock’s performance was 14.53% in the latest trading, and 7.21% in the past year.
An evaluation of the daily trading volume of Hut 8 Corp (NASDAQ:HUT) indicates that the 3-month average is 4.64 million.
Currently, records show that 89.24 million of the company’s shares remain outstanding. The insiders hold 0.35% of outstanding shares, whereas institutions hold 10.03%. However, since the stock’s price has seen -30.88% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.
