HC Wainwright Analysts Boost Earnings Estimates for Hut 8 Corp. (TSE:HUT)

Hut 8 Corp. (TSE:HUT) – Equities researchers at HC Wainwright upped their Q2 2024 EPS estimates for Hut 8 in a research note issued on Wednesday, May 15th. HC Wainwright analyst M. Colonnese now forecasts that the company will earn ($0.12) per share for the quarter, up from their previous estimate of ($0.47). HC Wainwright currently has a “Sell” rating on the stock. The consensus estimate for Hut 8’s current full-year earnings is ($0.52) per share. HC Wainwright also issued estimates for Hut 8’s Q3 2024 earnings at ($0.14) EPS, Q4 2024 earnings at ($0.08) EPS and FY2024 earnings at ($0.55) EPS.

Separately, Craig Hallum raised shares of Hut 8 from a “hold” rating to a “strong-buy” rating in a report on Thursday.

Hut 8 Stock Up 2.5 %

HUT opened at C$12.45 on Monday. The company has a quick ratio of 1.26, a current ratio of 0.55 and a debt-to-equity ratio of 613.95. The firm has a 50 day moving average price of C$11.70 and a 200-day moving average price of C$11.07. Hut 8 has a twelve month low of C$8.35 and a twelve month high of C$29.90. The stock has a market capitalization of C$1.11 billion, a price-to-earnings ratio of -11.64 and a beta of 3.45.

About Hut 8

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.