Hut 8 Mining Corp. [HUT] is 64.00% higher this YTD. Is it still time to buy?

Hut 8 Mining Corp. [NASDAQ: HUT] stock went on a downward path that fall over -8.70% on Tuesday, amounting to a one-week price increase of more than 16.84%. The company report on July 2, 2021 that Hut 8 and Bitfury BV agree to terminate Investor Rights Agreement.

Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT) (“Hut 8” or the “Company”), one of North America’s largest, innovation-focused digital asset mining pioneers, supporting open and decentralized systems since 2018, is pleased to provide the following corporate update.

, Hut 8 and Bitfury BV announce their mutual agreement to terminate the historical Investor Rights Agreement (“IRA”) between the two companies. The years of collaboration have enabled a strong partnership for both companies and have led to the advancement of bitcoin mining in Canada. The termination of the IRA will most notably bring to a close Bitfury’s right to a nominee on Hut 8’s Board effective immediately. Notwithstanding the foregoing, to enable time for the Hut 8 Board to transition, Hut 8 has agreed to allow for the delayed resignation of Bitfury’s former nominee Jeremy Sewell, until December 31, 2021.

Over the last 12 months, HUT stock rose by 310.04%.

The market cap for the stock reached $642.73 million, with 142.51 million shares outstanding and 100.69 million shares in the current float. Compared to the average trading volume of 1.82M shares, HUT stock reached a trading volume of 2848845 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Hut 8 Mining Corp. [HUT]:

The Average True Range (ATR) for Hut 8 Mining Corp. is set at 0.43, with the Price to Sales ratio for HUT stock in the period of the last 12 months amounting to 10.72.

HUT Stock Performance Analysis:

Hut 8 Mining Corp. [HUT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.84. With this latest performance, HUT shares gained by 22.22% in over the last four-week period, additionally plugging by 15.35% over the last 6 months – not to mention a rise of 310.04% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HUT stock in for the last two-week period is set at 52.35, with the RSI for the last a single of trading hit 53.70, and the three-weeks RSI is set at 51.01 for Hut 8 Mining Corp. [HUT]. The present Moving Average for the last 50 days of trading for this stock 4.22, while it was recorded at 4.38 for the last single week of trading, and 4.28 for the last 200 days.

Insight into Hut 8 Mining Corp. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Hut 8 Mining Corp. [HUT] shares currently have an operating margin of -58.14 and a Gross Margin at -51.13. Hut 8 Mining Corp.’s Net Margin is presently recorded at +46.77.

Return on Total Capital for HUT is now -22.53, given the latest momentum, and Return on Invested Capital for the company is 21.39. Return on Equity for this stock inclined to 24.06, with Return on Assets sitting at 17.59. When it comes to the capital structure of this company, Hut 8 Mining Corp. [HUT] has a Total Debt to Total Equity ratio set at 22.29. Additionally, HUT Total Debt to Total Capital is recorded at 18.23, with Total Debt to Total Assets ending up at 17.74.

Reflecting on the efficiency of the workforce at the company, Hut 8 Mining Corp. [HUT] managed to generate an average of $634,672 per employee. Receivables Turnover for the company is 58.39 with a Total Asset Turnover recorded at a value of 0.38.

Hut 8 Mining Corp. [HUT] Insider Position Details

There are presently around $1 million, or 12.64% of HUT stock, in the hands of institutional investors. The top three institutional holders of HUT stocks are: CUTLER GROUP LP with ownership of 63,052, which is approximately New of the company’s market cap and around 15.33% of the total institutional ownership; CAPTRUST FINANCIAL ADVISORS, holding 19,710 shares of the stock with an approximate value of $89000.0 in HUT stocks shares; and BELVEDERE TRADING LLC, currently with $65000.0 in HUT stock with ownership of nearly New of the company’s market capitalization.

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Positions in Hut 8 Mining Corp. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 8 institutional holders increased their position in Hut 8 Mining Corp. [NASDAQ:HUT] by around 123,471 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 7,300 shares. The mentioned changes placed institutional holdings at 130,771 shares, according to the latest SEC report filing. HUT stock had 6 new institutional investments in for a total of 106,561 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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