Hut 8 Mining Corp. (NASDAQ:HUT – Get Rating) – Equities research analysts at DA Davidson issued their Q2 2022 earnings per share (EPS) estimates for Hut 8 Mining in a note issued to investors on Friday, May 20th. DA Davidson analyst C. Brendler anticipates that the company will earn $0.05 per share for the quarter.
Hut 8 Mining (NASDAQ:HUT – Get Rating) last posted its earnings results on Thursday, March 17th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.14). Hut 8 Mining had a positive return on equity of 4.99% and a negative net margin of 27.23%. The business had revenue of $45.94 million for the quarter, compared to the consensus estimate of $43.16 million.
Other equities research analysts have also issued reports about the stock. Canaccord Genuity Group reduced their price objective on shares of Hut 8 Mining from $12.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, May 13th. Canaccord Genuity Group reduced their price objective on shares of Hut 8 Mining from $20.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 22nd. HC Wainwright reduced their price objective on shares of Hut 8 Mining from $19.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Zacks Investment Research downgraded shares of Hut 8 Mining from a “hold” rating to a “sell” rating in a research report on Friday, March 18th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hut 8 Mining has an average rating of “Buy” and an average target price of $10.00.
NASDAQ:HUT opened at $2.48 on Monday. The firm’s fifty day moving average is $4.35 and its 200-day moving average is $6.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 20.13 and a current ratio of 20.13. Hut 8 Mining has a 52 week low of $2.25 and a 52 week high of $16.57. The firm has a market cap of $432.85 million and a P/E ratio of -8.27.
Several institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP acquired a new position in Hut 8 Mining during the fourth quarter worth $31,000. Lazard Asset Management LLC purchased a new stake in shares of Hut 8 Mining in the fourth quarter valued at about $35,000. Fifth Third Bancorp purchased a new stake in shares of Hut 8 Mining in the fourth quarter valued at about $39,000. Quantbot Technologies LP purchased a new stake in shares of Hut 8 Mining in the first quarter valued at about $28,000. Finally, Syquant Capital Sas purchased a new stake in shares of Hut 8 Mining in the fourth quarter valued at about $50,000. Institutional investors own 15.28% of the company’s stock.
Hut 8 Mining Company Profile (Get Rating)
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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