Hut 8 (TSE:HUT) Trading Up 3.6%

Hut 8 Corp. (TSE:HUT) rose 3.6% during trading on Thursday . The company traded as high as C$16.97 and last traded at C$16.80. Approximately 80,752 shares were traded during trading, a decline of 94% from the average daily volume of 1,366,054 shares. The stock had previously closed at C$16.22.

Wall Street Analysts Forecast Growth

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

Hut 8 Trading Down 5.3 %

The company has a debt-to-equity ratio of 29.52, a quick ratio of 1.26 and a current ratio of 0.31. The company has a market cap of C$1.52 billion, a P/E ratio of -15.77 and a beta of 3.45. The business has a fifty day simple moving average of C$12.59 and a 200 day simple moving average of C$12.80.

Hut 8 (TSE:HUT) last announced its quarterly earnings data on Wednesday, May 15th. The company reported C($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of C($0.08) by C($0.15). The business had revenue of C$69.75 million for the quarter, compared to the consensus estimate of C$72.44 million. Hut 8 had a net margin of 156.36% and a negative return on equity of 122.68%. Analysts anticipate that Hut 8 Corp. will post -0.52 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.