Hut 8 Corp (NASDAQ:HUT) price on Thursday, April 10, fall -6.83% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $11.73.
A look at the stock’s price movement, the close in the last trading session was $12.59, moving within a range at $11.44 and $12.22. The PE ratio in trailing twelve months stood at 3.43. Turning to its 52-week performance, $31.95 and $6.95 were the 52-week high and 52-week low respectively. Overall, HUT moved -3.46% over the past month.
Hut 8 Corp’s market cap currently stands at around $1.22 billion, with investors looking forward to this quarter’s earnings report slated for on 2025-Mar-02.
Analysts have a consensus estimate of 33.68M for the company’s revenue for the quarter, with a low and high estimate of 26.81M and 40M respectively. The average forecast suggests down to a -34.90% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 262.51M, representing a 61.66% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that HUT is a 100% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
12 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 9 recommend HUT as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
HUT’s current price about -6.00% and -23.89% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 41.89, while 7-day volatility ratio is 17.18% and 9.49% in the 30-day chart. Further, Hut 8 Corp (HUT) has a beta value of 4.13, and an average true range (ATR) of 1.45. Analysts have given the company’s stock an average 52-week price target of $32.5, forecast between a low of $32 and high of $33. Looking at the price targets, the low is -172.8% off current price level while to achieve the yearly target high, price needs to move -181.33%. Nonetheless, investors will most likely welcome a -177.07% jump to $32.5 which is the analysts’ median price.
If we refocus on Hut 8 Corp (NASDAQ:HUT), historical trading data shows that trading volumes averaged 7.07 over the past 10 days and 4.98 million over the past 3 months. The company’s latest data on shares outstanding shows there are 99.48 million shares.
The 11.26% of Hut 8 Corp’s shares are in the hands of company insiders while institutional holders own 58.81% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 10.98 million on 2025-03-14, giving us a short ratio of 2.36. The data shows that as of 2025-03-14 short interest in Hut 8 Corp (HUT) stood at 1161.0 of shares outstanding, with shares short rising to 9.86 million registered in 2025-02-14. Current price change has pushed the stock -42.75% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the HUT stock continues to rise going into the next quarter.
