Equities analysts expect that Hut 8 Mining Corp. (NASDAQ:HUT) will announce earnings of $0.17 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Hut 8 Mining’s earnings. The lowest EPS estimate is $0.11 and the highest is $0.22. The firm is scheduled to announce its next earnings results on Thursday, February 10th.
On average, analysts expect that Hut 8 Mining will report full-year earnings of $0.28 per share for the current financial year. For the next fiscal year, analysts forecast that the business will report earnings of $0.91 per share, with EPS estimates ranging from $0.60 to $1.22. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Hut 8 Mining.
Hut 8 Mining (NASDAQ:HUT) last released its quarterly earnings data on Thursday, November 11th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01.
Several analysts recently issued reports on HUT shares. Canaccord Genuity lifted their price target on shares of Hut 8 Mining from $12.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 12th. HC Wainwright lifted their price target on shares of Hut 8 Mining from $11.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, November 12th. Finally, Zacks Investment Research raised shares of Hut 8 Mining from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Tuesday, November 16th.
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A number of institutional investors have recently made changes to their positions in the stock. Invesco Ltd. bought a new stake in shares of Hut 8 Mining during the third quarter valued at about $23,557,000. Morgan Stanley increased its position in shares of Hut 8 Mining by 1,760.0% during the third quarter. Morgan Stanley now owns 888,244 shares of the company’s stock valued at $7,461,000 after buying an additional 840,489 shares during the period. Marshall Wace LLP increased its position in shares of Hut 8 Mining by 37.7% during the third quarter. Marshall Wace LLP now owns 1,558,122 shares of the company’s stock valued at $13,090,000 after buying an additional 426,880 shares during the period. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Hut 8 Mining during the third quarter valued at about $3,541,000. Finally, Millennium Management LLC purchased a new position in shares of Hut 8 Mining during the third quarter worth about $3,132,000. Institutional investors and hedge funds own 7.69% of the company’s stock.
NASDAQ HUT traded up $0.67 during mid-day trading on Thursday, hitting $8.81. The company’s stock had a trading volume of 528,113 shares, compared to its average volume of 8,147,579. Hut 8 Mining has a twelve month low of $2.17 and a twelve month high of $16.57.
Hut 8 Mining Company Profile
Hut 8 Mining Corp. is a cryptocurrency mining and blockchain infrastructure company, which is focused solely on mining bitcoin. It provides investors with direct access to bitcoin, without the technical complexity or constraints of purchasing the underlying cryptocurrency. The company was founded by Andrew Kiguel on June 9, 2011 and is headquartered in Toronto, Canada.
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