The stock of Hut 8 Corp (NASDAQ:HUT) last traded at $11.65, up 6.20% from the previous session.
HUT stock price is now -17.80% away from the 50-day moving average and 9.88% away from the 200-day moving average. The market capitalization of the company currently stands at $1.06B.
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With the price target enhanced from $7.50 to $13.50, H.C. Wainwright Upgraded its rating from Sell to Buy for Hut 8 Corp (NASDAQ: HUT). On May 16, 2024, Craig Hallum Upgraded its previous ‘Hold’ rating to ‘Buy’ on the stock keeping its target price maintained at $12, while ‘The Benchmark Company’ rates the stock as ‘Buy’
In other news, Visram Shenif, Chief Financial Officer sold 20,239 shares of the company’s stock on Aug 02 ’24. The stock was sold for $270,705 at an average price of $13.38. Upon completion of the transaction, the Chief Financial Officer now directly owns 43,959 shares in the company, valued at $0.51 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 02 ’24, Officer Visram Shenif bought 20,239 shares of the business’s stock. A total of $270,705 was incurred on buying the stock at an average price of $13.38. A total of 11.42% of the company’s stock is owned by insiders.
During the past 12 months, Hut 8 Corp has had a low of $6.18 and a high of $21.10. As of last week, the company has a debt-to-equity ratio of 0.56, a current ratio of 1.68, and a quick ratio of 1.68. The fifty day moving average price for HUT is $14.172 and a two-hundred day moving average price translates $10.60295 for the stock.
The latest earnings results from Hut 8 Corp (NASDAQ: HUT) was released for 2024-06-30. The net profit margin was 108.03% and return on equity was 31.29% for HUT. The company reported revenue of $35.22 million for the quarter, compared to $20.53 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 71.53 percent. For the current quarter, analysts expect HUT to generate $60.3M in revenue.
