HC Wainwright Weighs in on Hut 8’s FY2024 Earnings (TSE:HUT)

Hut 8 Corp. (TSE:HUT) – Analysts at HC Wainwright raised their FY2024 earnings per share estimates for shares of Hut 8 in a research note issued on Thursday, November 14th. HC Wainwright analyst M. Colonnese now anticipates that the company will earn ($0.41) per share for the year, up from their previous estimate of ($0.66). HC Wainwright currently has a “Strong-Buy” rating on the stock. The consensus estimate for Hut 8’s current full-year earnings is $0.56 per share. HC Wainwright also issued estimates for Hut 8’s Q4 2024 earnings at ($0.25) EPS, Q1 2025 earnings at ($0.18) EPS, Q2 2025 earnings at $0.15 EPS and FY2025 earnings at $0.46 EPS.

Hut 8 Stock Performance

Shares of HUT stock opened at C$35.36 on Monday. The company has a current ratio of 1.67, a quick ratio of 1.26 and a debt-to-equity ratio of 55.19. The company’s fifty day moving average price is C$20.75 and its 200-day moving average price is C$18.13. The stock has a market cap of C$3.30 billion, a PE ratio of -33.05 and a beta of 3.45. Hut 8 has a 12 month low of C$8.35 and a 12 month high of C$39.79.

Hut 8 Company Profile

Hut 8 Corp. operates as a vertically integrated operator of energy infrastructure and Bitcoin miners in North America. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other. The company mines Bitcoin. It also offers managed services for energy infrastructure development, such as site design, procurement, and construction management; software automation, process design, personnel hiring, and team training; utilities contracts, hosting operations, and customer management; energy portfolio optimization and strategic initiatives; and finance, accounting, and safety services for digital asset mining site owners, governments, and data center developers.