Hut 8 Corp. (HUT)
Wall Street Analysts Think Hut 8 (HUT) Could Surge 28.49%: Read This Before Placing a Bet
The average of price targets set by Wall Street analysts indicates a potential upside of 28.5% in Hut 8 (HUT). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
Hut 8: A Third Quarter Earnings Review
Hut 8 reported $43.7 million in top-line revenue for third quarter 2024. Breaking revenue out by segment, 'Managed Services' had the largest nominal increase - mainly attributed to a $13.5 million payment from MARA. Digital Mining revenue was down 25% year over year and HPC revenue came in at just $3.4 million.
Hut 8 Corp. (HUT) Q3 2024 Earnings Call Transcript
Hut 8 Corp. (NASDAQ:HUT ) Q3 2024 Earnings Conference Call November 13, 2024 8:30 AM ET Company Participants Asher Genoot - CEO Sean Glennan - CFO Conference Call Participants Mark Palmer - The Benchmark Company George Sutton - Craig-Hallum Capital Group Mike Colonnese - HC Wainwright John Todaro - Needham Operator Good morning, and welcome to Hut 8 Q3 2024 Financial Results Conference Call. After today's presentation, there will be an opportunity to ask questions.
Hut 8 Boosted by Next-Gen Bitcoin Rigs and Revenue Diversification, Analysts Say
Hut 8 Corp (NASDAQ:HUT) stock tanked in early Tuesday trading after the company reported mixed second-quarter earnings. The stock price saw redemption on Wednesday.
Hut 8 Corp.'s Earnings: Is Crypto Mining About to Change?
Hut 8 Corp. NASDAQ: HUT is a vertically integrated cryptocurrency mining company operating in North America. It is one of the largest operators of large-scale energy infrastructure and provides a comprehensive suite of services, including self-mining, hosting, managed services, and traditional data center operations.
Hut 8 Corp. (HUT) Q2 2024 Earnings Call Transcript
Call Start: 08:30 January 1, 0000 9:21 AM ET Hut 8 Corp. (NASDAQ:HUT ) Q2 2024 Earnings Conference Call August 13, 2024 08:30 ET Company Participants Asher Genoot - Chief Executive Officer Shenif Visram - Chief Financial Officer Sean Glennan - Incoming Chief Financial Officer Conference Call Participants John Todaro - Needham Mike Colonnese - HC Wainwright Operator Good morning and welcome to Hut 8's Q2 2024 Financial Results Conference Call. After today's presentation, there will be an opportunity to ask questions.
Data Mining Stock Flashing Bull Signal Before Earnings
Hut 8 Corp (NASDAQ:HUT) will report fiscal first-quarter earnings before the open tomorrow, Aug 13.
Hut 8 (HUT) Soars 17.9%: Is Further Upside Left in the Stock?
Hut 8 (HUT) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
Strength Seen in Hut 8 (HUT): Can Its 8.8% Jump Turn into More Strength?
Hut 8 (HUT) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
3 Crypto Mining Stocks to Buy for Bitcoin-Sized Gains
For many, investing directly in cryptocurrencies can seem inherently risky. After all, most cryptos don't have much backing for their value beyond investor interest.
Wall Street Analysts See a 28.14% Upside in Hut 8 (HUT): Can the Stock Really Move This High?
The consensus price target hints at a 28.1% upside potential for Hut 8 (HUT). While empirical research shows that this sought-after metric is hardly effective, an upward trend in earnings estimate revisions could mean that the stock will witness an upside in the near term.
HC Wainwright Equities Analysts Increase Earnings Estimates for Hut 8 Corp. (NASDAQ:HUT)
Hut 8 Corp. (NASDAQ:HUT – Free Report) – Analysts at HC Wainwright increased their Q2 2024 earnings per share estimates for Hut 8 in a research report issued on Wednesday, May 15th. HC Wainwright analyst M. Colonnese now forecasts that the company will post earnings per share of ($0.09) for the quarter, up from their prior forecast of ($0.35). HC Wainwright currently has a “Sell” rating and a $7.50 target price on the stock. The consensus estimate for Hut 8’s current full-year earnings is ($0.43) per share. HC Wainwright also issued estimates for Hut 8’s Q3 2024 earnings at ($0.10) EPS, Q4 2024 earnings at ($0.06) EPS and FY2024 earnings at ($0.43) EPS. HUT has been the subject of a number of other reports. Craig Hallum raised Hut 8 from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Thursday. Needham & Company LLC increased their price target on Hut 8 from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday. Benchmark reaffirmed a “buy” rating and set a $12.00 price target on shares of Hut 8 in a research report on Thursday. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $14.00 target price on shares of Hut 8 in a research report on Thursday. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.25. Check Out Our Latest Stock Analysis on HUT Hut 8 Price Performance Shares of HUT opened at $9.16 on Monday. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.04. The stock has a 50 day moving average of $8.58 and a 200 day moving average of $8.19. Hut 8 has a 12 month low of $6.18 and a 12 month high of $22.75. Institutional Investors Weigh In On Hut 8 Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Hut 8 by 8,329.2% during the first quarter. Vanguard Group Inc. now owns 2,787,102 shares of the company’s stock valued at $30,770,000 after buying an additional 2,754,037 shares during the period. Van ECK Associates Corp lifted its stake in Hut 8 by 15.7% during the third quarter. Van ECK Associates Corp now owns 2,198,471 shares of the company’s stock worth $4,287,000 after purchasing an additional 297,552 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Hut 8 during the third quarter worth about $3,429,000. Tidal Investments LLC bought a new stake in Hut 8 during the first quarter worth about $18,191,000. Finally, Wellington Management Group LLP lifted its stake in Hut 8 by 203.4% during the third quarter. Wellington Management Group LLP now owns 1,125,958 shares of the company’s stock worth $2,224,000 after purchasing an additional 754,891 shares during the last quarter. Institutional investors own 31.75% of the company’s stock. Insider Activity In other news, CFO Shenif Visram sold 17,905 shares of Hut 8 stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $8.15, for a total value of $145,925.75. Following the completion of the transaction, the chief financial officer now directly owns 30,865 shares in the company, valued at $251,549.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. About Hut 8 (Get Free Report) 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.
