Hut 8 Corp. (NASDAQ:HUT) to Post Q1 2024 Earnings of ($0.07) Per Share, HC Wainwright Forecasts

Hut 8 Corp. (NASDAQ:HUTFree Report) – HC Wainwright issued their Q1 2024 earnings per share estimates for shares of Hut 8 in a research note issued to investors on Tuesday, February 6th. HC Wainwright analyst M. Colonnese expects 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.

HUT has been the topic of a number of other reports. Stifel Nicolaus upped their price objective on Hut 8 from $3.25 to $15.00 and gave the company a “speculative buy” rating in a report on Monday, January 8th. Canaccord Genuity Group reissued a “buy” rating and set a $3.50 target price on shares of Hut 8 in a report on Wednesday, November 15th.

Read Our Latest Analysis on HUT

Hut 8 Stock Down 1.6 %

Shares of NASDAQ HUT opened at $6.77 on Thursday. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average price is $10.03 and its two-hundred day moving average price is $5.01. Hut 8 has a one year low of $6.05 and a one year high of $22.75.

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

Institutional Trading of Hut 8

Large investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in shares of Hut 8 during the first quarter valued at about $28,000. Citigroup Inc. boosted its stake in shares of Hut 8 by 1,045.6% during the first quarter. Citigroup Inc. now owns 8,592 shares of the company’s stock valued at $47,000 after purchasing an additional 7,842 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Hut 8 during the first quarter valued at about $59,000. Private Advisor Group LLC acquired a new stake in shares of Hut 8 during the second quarter valued at about $39,000. Finally, IFP Advisors Inc boosted its stake in shares of Hut 8 by 36.3% during the second quarter. IFP Advisors Inc now owns 12,950 shares of the company’s stock valued at $40,000 after purchasing an additional 3,450 shares in the last quarter. 11.80% of the stock is owned by institutional investors and hedge funds.

Hut 8 Company Profile

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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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