Hut 8 Corp. (HUT)
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.
HC Wainwright Analysts Boost Earnings Estimates for Hut 8 Corp. (TSE:HUT)
Hut 8 Corp. (TSE:HUT – Free Report) – 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. Check Out Our Latest Stock Report on Hut 8 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 (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. See Also Five stocks we like better than Hut 8 What Investors Need to Know to Beat the Market MarketBeat Week in Review – 5/13 – 5/17 Stock Ratings and Recommendations: Understanding Analyst Ratings Take-Two Interactive Software Offers 2nd Chance for Investors How to Start Investing in Real Estate Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook
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