Hut 8 (HUT) to Release Earnings on Wednesday

Hut 8 (NASDAQ:HUT - Get Free Report) is set to issue its quarterly earnings data before the market opens on Wednesday, November 13th. Analysts expect the company to announce earnings of ($0.26) per share for the quarter. Persons interested in listening to the company's earnings conference call can do so using this link.

Hut 8 (NASDAQ:HUT - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $35.22 million during the quarter, compared to analysts' expectations of $38.00 million.

Hut 8 Stock Up 11.1 %

Hut 8 stock traded up $1.85 during midday trading on Wednesday, reaching $18.59. 11,587,262 shares of the company were exchanged, compared to its average volume of 4,962,902. The firm's 50-day simple moving average is $12.45 and its 200-day simple moving average is $12.24. Hut 8 has a 1 year low of $6.18 and a 1 year high of $21.10. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.43.

Insider Transactions at Hut 8

In other news, Director Joseph Flinn sold 7,618 shares of the firm's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $11.74, for a total value of $89,435.32. Following the transaction, the director now directly owns 11,861 shares in the company, valued at $139,248.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 12.00% of the company's stock.

Analyst Upgrades and Downgrades

HUT has been the subject of a number of recent research reports. Benchmark reiterated a "buy" rating and set a $17.00 price target on shares of Hut 8 in a report on Monday, October 7th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $22.00 target price on shares of Hut 8 in a research note on Wednesday, August 21st. Stifel Nicolaus increased their price target on Hut 8 from $15.00 to $18.00 and gave the stock a "speculative buy" rating in a research note on Wednesday, October 30th. HC Wainwright reaffirmed a "buy" rating and issued a $13.50 price objective on shares of Hut 8 in a research report on Friday, September 20th. Finally, Craig Hallum increased 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. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $17.00.

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.