Hut 8 (HUT) to Release Quarterly Earnings on Wednesday

Hut 8 (NASDAQ:HUT) is scheduled to be announcing its earnings results before the market opens on Wednesday, November 13th. Analysts expect the company to announce earnings of ($0.26) 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 (NASDAQ:HUT) last announced its earnings results on Tuesday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.11. The business had revenue of $35.22 million for the quarter, compared to analysts’ expectations of $38.00 million.

Hut 8 Stock Up 7.6 %

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HUT shares. Craig Hallum raised their target price on Hut 8 from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Stifel Nicolaus lifted their price objective on Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $22.00 price objective on shares of Hut 8 in a report on Wednesday, August 21st. Benchmark reissued a “buy” rating and issued a $17.00 price objective on shares of Hut 8 in a report on Monday, October 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $13.50 price objective on shares of Hut 8 in a report on Friday, September 20th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus 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 Hut 8 stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $11.74, for a total transaction of $89,435.32. Following the completion of the transaction, the director now owns 11,861 shares of the company’s stock, valued at $139,248.14. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.