Hut 8 Mining (TSE:HUT) Trading Up 7.7%

Shares of Hut 8 Mining Corp. (TSE:HUTGet Rating) rose 7.7% during mid-day trading on Monday . The stock traded as high as C$2.25 and last traded at C$2.24. Approximately 689,773 shares traded hands during trading, a decline of 74% from the average daily volume of 2,670,672 shares. The stock had previously closed at C$2.08.

Several research analysts have recently commented on the company. HC Wainwright decreased their price objective on Hut 8 Mining from C$24.00 to C$6.50 and set a “buy” rating on the stock in a report on Thursday, May 19th. Stifel Nicolaus assumed coverage on Hut 8 Mining in a report on Thursday, March 24th. They issued a “buy” rating and a C$11.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Hut 8 Mining currently has a consensus rating of “Buy” and a consensus price target of C$12.38.

The company has a market cap of C$390.97 million and a PE ratio of -8.98. The company has a current ratio of 20.13, a quick ratio of 3.65 and a debt-to-equity ratio of 6.68. The business has a fifty day moving average of C$3.81 and a 200-day moving average of C$6.77.

Hut 8 Mining (TSE:HUTGet Rating) last announced its quarterly earnings results on Thursday, March 17th. The company reported C$0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.20 by C($0.18). The company had revenue of C$57.90 million during the quarter, compared to the consensus estimate of C$54.20 million. As a group, research analysts predict that Hut 8 Mining Corp. will post -0.27 EPS for the current year.

Hut 8 Mining Company Profile (TSE:HUT)

Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America. The company engages in industrial scale bitcoin mining operations. It also owns and operates 38 BlockBoxes in Drumheller, Alberta; and 51 BlockBoxes in Medicine Hat, Alberta. Hut 8 Mining Corp. was incorporated in 2011 and is headquartered in Toronto, Canada.

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