Hut 8 (TSE:HUT) Shares Up 6.5%

Hut 8 Corp. (TSE:HUT) shares rose 6.5% during mid-day trading on Thursday . The stock traded as high as C$22.55 and last traded at C$22.36. Approximately 240,515 shares were traded during trading, a decline of 83% from the average daily volume of 1,407,133 shares. The stock had previously closed at C$20.99.

Analyst Ratings Changes

Separately, Craig Hallum raised shares of Hut 8 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 16th.

Hut 8 Stock Down 1.9 %

The firm has a market cap of C$1.85 billion, a price-to-earnings ratio of -19.12 and a beta of 3.45. The business has a fifty day simple moving average of C$13.66 and a 200 day simple moving average of C$13.04. The company has a debt-to-equity ratio of 29.52, a current ratio of 0.31 and a quick ratio of 1.26.

Hut 8 (TSE:HUT) last issued its quarterly earnings results on Wednesday, May 15th. The company reported C($0.23) EPS for the quarter, missing the consensus estimate of C($0.08) by C($0.15). The firm had revenue of C$69.75 million for the quarter, compared to analysts’ expectations of C$72.44 million. Hut 8 had a negative return on equity of 122.68% and a net margin of 156.36%. As a group, equities analysts forecast that Hut 8 Corp. will post -0.52 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.