Hut 8 Mining (TSE:HUT) Trading 3.7% Higher

Hut 8 Mining Corp. (TSE:HUT – Get Rating)’s share price traded up 3.7% during trading on Friday . The stock traded as high as C$3.10 and last traded at C$3.07. 263,327 shares changed hands during trading, a decline of 90% from the average session volume of 2,617,393 shares. The stock had previously closed at C$2.96.

Several equities research analysts have recently commented on the company. Stifel Nicolaus assumed coverage on Hut 8 Mining in a research note on Thursday, March 24th. They set a “buy” rating and a C$11.00 price target for the company. HC Wainwright cut their price target on Hut 8 Mining from C$24.00 to C$6.50 and set a “buy” rating for the company in a research note on Thursday, May 19th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$12.38.

The company has a quick ratio of 3.65, a current ratio of 20.13 and a debt-to-equity ratio of 6.68. The company has a market cap of C$553.92 million and a price-to-earnings ratio of -13.07. The company has a fifty day simple moving average of C$5.20 and a two-hundred day simple moving average of C$8.46.

Hut 8 Mining (TSE:HUT – Get Rating) last posted its earnings results on Thursday, March 17th. The company reported C$0.02 earnings per share for the quarter, missing the consensus estimate of C$0.20 by C($0.18). The business had revenue of C$57.90 million during the quarter, compared to the consensus estimate of C$54.20 million. On average, research analysts predict that Hut 8 Mining Corp. will post -0.2709541 EPS for the current year.

Hut 8 Mining Company Profile (TSE:HUT)

Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America. The company engages in industrial scale bitcoin mining operations. It also owns and operates 38 BlockBoxes in Drumheller, Alberta; and 51 BlockBoxes in Medicine Hat, Alberta. Hut 8 Mining Corp. was incorporated in 2011 and is headquartered in Toronto, Canada.

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