HUT Stock Summary and Trading Ideas (Hut 8 Corp. | NASDAQ:HUT)

Hut 8 Corp is engaged in the mining of digital assets with an operational focus on utilizing specialized equipment to solve complex computational problems to validate transactions on the Bitcoin blockchain and receiving Bitcoin in return for successful services. The company has four reportable business segments: Digital Assets Mining, Managed Services, High Performance Computing -Colocation and Cloud, and Other. It derives maximum revenue from Digital Assets Mining segment.

Hut 8 Corp. trades on the NASDAQ stock market under the symbol HUT.

As of February 4, 2025, HUT stock price declined to $21.57 with 2,724,183 million shares trading.

HUT has a beta of 2.81, meaning it tends to be more sensitive to market movements. HUT has a correlation of 0.13 to the broad based SPY ETF.

HUT has a market cap of $2.02 billion. This is considered a Mid Cap stock.

Last quarter Hut 8 Corp. reported $44 million in Revenue and -$.23 earnings per share. This fell short of revenue expectation by $-9 million and exceeded earnings estimates by $.16.

In the last 3 years, HUT traded as high as $41.70 and as low as $3.90.

The top ETF exchange traded funds that HUT belongs to (by Net Assets): VTI, IWM, VGT, VXF, IWN.

HUT has outperformed the market in the last year with a return of +196.3%, while the SPY ETF gained +23.2%. In the last 3 month period, HUT beat the market returning +38.6%, while SPY returned +6.0%. However, in the most recent 2 weeks HUT has underperformed the stock market by returning -17.4%, while SPY returned -0.2%.

HUT support price is $20.11 and resistance is $23.17 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that HUT shares will trade within this expected range on the day.