In yesterday’s Wall Street session, Hut 8 Corp (NASDAQ:HUT) shares traded at $23.89, down -1.61% from the previous session.
HUT stock price is now 7.19% away from the 50-day moving average and 70.34% away from the 200-day moving average. The market capitalization of the company currently stands at $2.24B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target of $33, Piper Sandler recently initiated with Overweight rating for Hut 8 Corp (NASDAQ: HUT). On December 09, 2024, Cantor Fitzgerald recently initiated its ‘Overweight’ rating on the stock quoting a target price of $35, while ‘H.C. Wainwright’ rates the stock as ‘Buy’
In other news, Flinn Joseph, Director sold 7,618 shares of the company’s stock on Aug 16 ’24. The stock was sold for $89,427 at an average price of $11.74. Upon completion of the transaction, the Director now directly owns 11,861 shares in the company, valued at $0.28 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 16 ’24, Director Flinn Joseph bought 7,618 shares of the business’s stock. A total of $89,427 was incurred on buying the stock at an average price of $11.74. A total of 11.01% 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 $31.95. As of last week, the company has a debt-to-equity ratio of 0.49, a current ratio of 1.00, and a quick ratio of 1.00. The fifty day moving average price for HUT is $22.0441 and a two-hundred day moving average price translates $13.940975 for the stock.
The latest earnings results from Hut 8 Corp (NASDAQ: HUT) was released for 2024-09-30. The net profit margin was 112.17% and return on equity was 40.01% for HUT. The company reported revenue of $43.73 million for the quarter, compared to $21.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 101.52 percent.
