HC Wainwright Weighs in on Hut 8 Corp.’s Q1 2024 Earnings (TSE:HUT)

Hut 8 Corp. (TSE:HUTFree Report) – Analysts at HC Wainwright issued their Q1 2024 earnings per share estimates for Hut 8 in a research report issued on Tuesday, February 6th. HC Wainwright analyst M. Colonnese forecasts that the company will post earnings per share of ($0.09) for the quarter. HC Wainwright currently has a “Sell” rating on the stock. The consensus estimate for Hut 8’s current full-year earnings is ($0.52) per share. HC Wainwright also issued estimates for Hut 8’s Q2 2024 earnings at ($0.34) EPS, Q3 2024 earnings at ($0.34) EPS and Q4 2024 earnings at ($0.28) EPS.

Hut 8 Stock Performance

Shares of Hut 8 stock opened at C$10.05 on Thursday. Hut 8 has a 12 month low of C$8.35 and a 12 month high of C$29.90. The business’s fifty day simple moving average is C$13.56 and its 200 day simple moving average is C$6.75. The firm has a market capitalization of C$894.05 million, a P/E ratio of -9.48 and a beta of 3.45. The company has a current ratio of 1.99, a quick ratio of 1.26 and a debt-to-equity ratio of 613.95.

Hut 8 (TSE:HUTGet Free Report) last posted its earnings results on Tuesday, November 14th. The company reported C($0.65) EPS for the quarter, missing the consensus estimate of C($0.35) by C($0.30). The firm had revenue of C$16.98 million for the quarter, compared to the consensus estimate of C$20.60 million. Hut 8 had a negative return on equity of 122.68% and a negative net margin of 110.59%.

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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