Equities Analysts Offer Predictions for Hut 8 Corp.’s Q1 2024 Earnings (NASDAQ:HUT)

Hut 8 Corp. (NASDAQ:HUTFree Report) – Investment analysts at HC Wainwright issued their Q1 2024 earnings per share estimates for Hut 8 in a research report issued to clients and investors on Tuesday, February 6th. HC Wainwright analyst M. Colonnese forecasts that the company will post earnings of ($0.07) per share for the quarter. HC Wainwright currently has a “Sell” rating and a $5.50 price objective on the stock. The consensus estimate for Hut 8’s current full-year earnings is ($1.05) per share. HC Wainwright also issued estimates for Hut 8’s Q2 2024 earnings at ($0.25) EPS, Q3 2024 earnings at ($0.25) EPS and Q4 2024 earnings at ($0.21) EPS.

Other analysts have also issued reports about the company. Stifel Nicolaus boosted their price objective on Hut 8 from $3.25 to $15.00 and gave the company a “speculative buy” rating in a research note on Monday, January 8th. Canaccord Genuity Group restated a “buy” rating and issued a $3.50 target price on shares of Hut 8 in a research note on Wednesday, November 15th.

Check Out Our Latest Stock Report on Hut 8

Hut 8 Price Performance

NASDAQ:HUT opened at $6.77 on Thursday. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 0.04. Hut 8 has a 52-week low of $6.05 and a 52-week high of $22.75. The business’s fifty day moving average is $10.03 and its 200 day moving average is $5.01.

Hut 8 (NASDAQ:HUTGet Free Report) last issued its earnings results on Tuesday, November 14th. The company reported ($0.45) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.45). Hut 8 had a negative return on equity of 24.58% and a negative net margin of 184.31%. The firm had revenue of $12.66 million for the quarter, compared to analyst estimates of $27.78 million.

Hedge Funds Weigh In On Hut 8

A number of institutional investors have recently added to or reduced their stakes in HUT. Evexia Wealth LLC boosted its holdings in shares of Hut 8 by 29.3% in the 2nd quarter. Evexia Wealth LLC now owns 13,902 shares of the company’s stock worth $48,000 after purchasing an additional 3,148 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in Hut 8 by 5.6% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 62,249 shares of the company’s stock worth $207,000 after buying an additional 3,322 shares during the period. IFP Advisors Inc lifted its holdings in Hut 8 by 36.3% in the 2nd quarter. IFP Advisors Inc now owns 12,950 shares of the company’s stock worth $40,000 after buying an additional 3,450 shares during the period. Cetera Advisor Networks LLC lifted its holdings in Hut 8 by 6.2% in the 2nd quarter. Cetera Advisor Networks LLC now owns 62,040 shares of the company’s stock worth $206,000 after buying an additional 3,598 shares during the period. Finally, Barclays PLC lifted its holdings in Hut 8 by 11.1% in the 2nd quarter. Barclays PLC now owns 39,994 shares of the company’s stock worth $132,000 after buying an additional 3,994 shares during the period. 11.80% of the stock is currently owned by institutional investors.

About Hut 8

(Get Free Report)

Hut 8 Corp. provides digital asset mining and high-performance computing infrastructure solutions in Canada. It operates computing infrastructure sites mines Bitcoin, as well as delivers cloud, colocation, and computing services to enterprise customers. The company was founded in 2017 and is based in Miami, Florida.

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