Hut 8 (HUT) to Release Earnings on Tuesday

Hut 8 (NASDAQ:HUT) will release its earnings data before the market opens on Tuesday, August 13th. Analysts expect Hut 8 to post earnings of ($0.09) per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). The firm had revenue of $51.74 million during the quarter, compared to analysts’ expectations of $50.60 million.

Hut 8 Price Performance

Shares of Hut 8 stock opened at $11.97 on Monday. The business’s 50-day moving average price is $14.25 and its 200-day moving average price is $10.54. Hut 8 has a 12 month low of $6.18 and a 12 month high of $21.10. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 0.18.

Analyst Ratings Changes

HUT has been the topic of several research reports. Canaccord Genuity Group lifted their price target on shares of Hut 8 from $14.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. HC Wainwright reissued a “sell” rating and issued a $7.50 price target on shares of Hut 8 in a research note on Tuesday, June 25th. Benchmark restated a “buy” rating and set a $17.00 price target on shares of Hut 8 in a research report on Wednesday, July 31st. Needham & Company LLC lifted their price objective on Hut 8 from $13.00 to $15.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, Craig Hallum increased their target price on Hut 8 from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, June 14th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.08.

Insider Buying and Selling at Hut 8

In other news, CFO Shenif Visram sold 20,239 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $13.38, for a total transaction of $270,797.82. Following the completion of the sale, the chief financial officer now directly owns 43,959 shares in the company, valued at $588,171.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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.