Hut 8 (HUT) Projected to Post Earnings on Wednesday

Hut 8 (NASDAQ:HUT) is anticipated to announce its earnings results before the market opens on Wednesday, February 12th. Analysts expect the company to announce earnings of ($0.18) per share for the quarter.

Hut 8 Price Performance

Shares of Hut 8 stock opened at $20.81 on Tuesday. The firm’s 50-day simple moving average is $24.30 and its 200-day simple moving average is $18.13. Hut 8 has a twelve month low of $6.77 and a twelve month high of $31.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35.

Wall Street Analysts Forecast Growth

HUT has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 target price on shares of Hut 8 in a research report on Tuesday, January 7th. Benchmark reaffirmed a “buy” rating and set a $41.00 price objective on shares of Hut 8 in a report on Tuesday, January 7th. Canaccord Genuity Group boosted their target price on Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $38.00 price target on shares of Hut 8 in a report on Monday, January 13th. Finally, Keefe, Bruyette & Woods started coverage on shares of Hut 8 in a report on Wednesday, January 8th. They set an “outperform” rating on the stock. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Hut 8 presently has a consensus rating of “Buy” and a consensus target price of $33.00.

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.