Hut 8 (TSE:HUT) Stock Price Up 5.2%

Hut 8 Corp. (TSE:HUT) traded up 5.2% during trading on Monday . The company traded as high as C$12.85 and last traded at C$12.85. 16,428 shares were traded during mid-day trading, a decline of 99% from the average session volume of 1,371,669 shares. The stock had previously closed at C$12.21.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Craig Hallum raised shares of Hut 8 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 16th. HC Wainwright raised Hut 8 from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, August 14th.

Hut 8 Price Performance

The company has a fifty day moving average price of C$18.65 and a two-hundred day moving average price of C$14.95. The firm has a market capitalization of C$1.30 billion, a price-to-earnings ratio of -13.42 and a beta of 3.45. The company has a quick ratio of 1.26, a current ratio of 1.67 and a debt-to-equity ratio of 55.19.

Hut 8 (TSE:HUT) last issued its quarterly earnings results on Tuesday, August 13th. The company reported C$0.02 earnings per share for the quarter, topping analysts’ consensus estimates of C($0.12) by C$0.14. The firm had revenue of C$48.18 million during the quarter, compared to analysts’ expectations of C$52.06 million. Hut 8 had a net margin of 102.21% and a negative return on equity of 122.68%. On average, equities research analysts expect that Hut 8 Corp. will post 0.5598776 EPS for the current fiscal year.

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.