Hut 8 (HUT) to Release Quarterly Earnings on Wednesday

Hut 8 (NASDAQ:HUT) is scheduled to be releasing its earnings data before the market opens on Wednesday, November 13th. Analysts expect Hut 8 to post earnings of ($0.26) per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Hut 8 (NASDAQ:HUT) last released its earnings results on Tuesday, August 13th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.11. The firm had revenue of $35.22 million during the quarter, compared to the consensus estimate of $38.00 million.

Hut 8 Trading Up 7.6 %

NASDAQ:HUT opened at $16.74 on Wednesday. The business has a 50 day moving average of $12.45 and a 200 day moving average of $12.24. Hut 8 has a 1-year low of $6.18 and a 1-year high of $21.10. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.68 and a current ratio of 1.68.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HUT. HC Wainwright restated a “buy” rating and issued a $13.50 target price on shares of Hut 8 in a research report on Friday, September 20th. Craig Hallum boosted their target price on Hut 8 from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Benchmark restated a “buy” rating and issued a $17.00 target price on shares of Hut 8 in a research report on Monday, October 7th. Canaccord Genuity Group restated a “buy” rating and issued a $22.00 target price on shares of Hut 8 in a research report on Wednesday, August 21st. Finally, Needham & Company LLC boosted their price objective on Hut 8 from $15.00 to $16.50 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, Hut 8 has a consensus rating of “Buy” and an average target price of $17.00.

Insider Buying and Selling at Hut 8

In other Hut 8 news, Director Joseph Flinn sold 7,618 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $11.74, for a total value of $89,435.32. Following the completion of the sale, the director now owns 11,861 shares in the company, valued at approximately $139,248.14. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 12.00% of the company’s stock.

Hut 8 Company Profile

Hut 8 Corp., together with its subsidiaries, acquires, builds, manages, and operates data centers for digital assets mining, computing, and artificial intelligence in the United States. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other.