Hut 8 (HUT) Set to Announce Earnings on Wednesday

Hut 8 (NASDAQ:HUT) will be releasing its earnings data before the market opens on Wednesday, May 15th. Analysts expect Hut 8 to post earnings of ($0.06) per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Hut 8 Trading Down 7.5 %

HUT opened at $8.19 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.61 and a quick ratio of 4.61. Hut 8 has a fifty-two week low of $6.18 and a fifty-two week high of $22.75. The firm has a market capitalization of $732.87 million, a price-to-earnings ratio of -2.98 and a beta of 3.98. The company’s 50 day moving average price is $8.55 and its two-hundred day moving average price is $7.85.

Analyst Upgrades and Downgrades

HUT has been the topic of a number of recent research reports. Craig Hallum raised their price objective on shares of Hut 8 from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Monday, April 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $12.00 price target on shares of Hut 8 in a research report on Monday, April 1st. HC Wainwright boosted their price objective on Hut 8 from $7.00 to $9.00 and gave the stock a “sell” rating in a report on Thursday, March 28th. Canaccord Genuity Group dropped their target price on Hut 8 from $17.50 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Finally, Benchmark reaffirmed a “buy” rating and set a $12.00 price objective on shares of Hut 8 in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $12.33.

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.