Hut 8 Corp (NASDAQ:HUT) shares, rose in value, with the stock price down by -1.34% to the previous day’s close as strong demand from buyers drove the stock to $8.86.
Actively observing the price movement in the last trading, the stock closed the session at $8.98. Referring to stock’s 52-week performance, its high was $22.75, and the low was $6.18. On the whole, HUT has fluctuated by -10.32% over the past month.
With the market capitalization of Hut 8 Corp currently standing at about $790.67 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 07, 2024 – Mar 11, 2024.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that HUT’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of 50% Sell while long-term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of HUT currently trading nearly 0.05% and 2.37% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 52.12, while the 7-day volatility ratio is showing 9.12% which for the 30-day chart, stands at 8.91%. Furthermore, Hut 8 Corp (HUT)’s beta value is 2.99, and its average true range (ATR) is 0.79.
A comparison of Hut 8 Corp (HUT) with its peers suggests the former has fared considerably weaker in the market. HUT showed an intraday change of -1.34% in last session, and over the past year, it grew by 4.24%%.
Data on historical trading for Hut 8 Corp (NASDAQ:HUT) indicates that the trading volumes over the past 3 months, they’ve averaged 4.61 million. According to company’s latest data on outstanding shares, there are 89.24 million shares outstanding.
Nearly 0.35% of Hut 8 Corp’s shares belong to company insiders and institutional investors own 10.04% of the company’s shares. The stock has fallen by -33.58% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the HUT stock heading into the next quarter.
