HC Wainwright Has Bullish Estimate for Hut 8 FY2024 Earnings

Hut 8 Corp. (NASDAQ:HUT) – Investment analysts at HC Wainwright lifted their FY2024 EPS estimates for Hut 8 in a research note issued to investors on Thursday, November 14th. HC Wainwright analyst M. Colonnese now expects that the company will post earnings of ($0.26) per share for the year, up from their previous estimate of ($0.55). HC Wainwright currently has a “Buy” rating and a $35.00 target price on the stock. The consensus estimate for Hut 8’s current full-year earnings is ($0.26) per share. HC Wainwright also issued estimates for Hut 8’s Q4 2024 earnings at ($0.18) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at $0.11 EPS and FY2025 earnings at $0.33 EPS.

Other equities research analysts have also recently issued research reports about the company. Canaccord Genuity Group lifted their price target on Hut 8 from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Craig Hallum raised their target price on Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus boosted their price target on Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a research report on Wednesday, October 30th. Needham & Company LLC raised their price target on Hut 8 from $21.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Benchmark lifted their price objective on shares of Hut 8 from $17.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $30.17.

Hut 8 Stock Down 0.9 %

Shares of NASDAQ:HUT opened at $25.04 on Monday. Hut 8 has a fifty-two week low of $6.18 and a fifty-two week high of $28.47. The company has a current ratio of 1.00, a quick ratio of 1.68 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $14.47 and its 200 day moving average price is $13.00.

Institutional Trading of Hut 8

Institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new stake in Hut 8 in the third quarter worth about $40,000. Amalgamated Bank acquired a new position in shares of Hut 8 in the 2nd quarter worth approximately $42,000. Intech Investment Management LLC bought a new stake in shares of Hut 8 in the 3rd quarter worth approximately $133,000. Victory Capital Management Inc. acquired a new stake in Hut 8 during the second quarter valued at approximately $154,000. Finally, XTX Topco Ltd bought a new stake in Hut 8 during the third quarter worth approximately $162,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

About Hut 8

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.