Hut 8 (TSE:HUT) Stock Price Down 5.4%

Shares of Hut 8 Corp. (TSE:HUT) traded down 5.4% during trading on Monday . The stock traded as low as C$16.53 and last traded at C$16.74. 61,105 shares changed hands during trading, a decline of 96% from the average session volume of 1,387,215 shares. The stock had previously closed at C$17.69.

Analyst Upgrades and Downgrades

Separately, HC Wainwright upgraded shares of Hut 8 from a “strong sell” rating to a “strong-buy” rating in a research report on Wednesday, August 14th.

Hut 8 Trading Down 6.7 %

The company has a debt-to-equity ratio of 55.19, a current ratio of 1.67 and a quick ratio of 1.26. The firm has a market capitalization of C$1.50 billion, a PE ratio of -15.57 and a beta of 3.45. The company’s fifty day simple moving average is C$16.58 and its 200-day simple moving average is C$15.38.

Hut 8 (TSE:HUT) last posted its quarterly earnings results on Tuesday, August 13th. The company reported C$0.02 earnings per share for the quarter, topping the consensus estimate of C($0.12) by C$0.14. The firm had revenue of C$48.18 million for the quarter, compared to the consensus estimate of C$52.06 million. Hut 8 had a net margin of 102.21% and a negative return on equity of 122.68%. As a group, sell-side analysts expect that Hut 8 Corp. will post 0.5606973 earnings per share 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.