Hut 8 (TSE:HUT) Trading Down 1.5%

Shares of Hut 8 Corp. (TSE:HUT) traded down 1.5% during trading on Friday . The stock traded as low as C$15.15 and last traded at C$15.26. 21,567 shares were traded during trading, a decline of 98% from the average session volume of 1,371,803 shares. The stock had previously closed at C$15.49.

Analyst Upgrades and Downgrades

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

Hut 8 Stock Performance

The firm’s fifty day moving average price is C$17.59 and its 200 day moving average price is C$15.08. The company has a debt-to-equity ratio of 55.19, a quick ratio of 1.26 and a current ratio of 1.67. The firm has a market cap of C$1.38 billion, a P/E ratio of -14.15 and a beta of 3.45.

Hut 8 (TSE:HUT) last issued its quarterly earnings results on Tuesday, August 13th. The company reported C$0.02 EPS for the quarter, topping analysts’ consensus estimates of C($0.12) by C$0.14. The company had revenue of C$48.18 million during the quarter, compared to analysts’ expectations of C$52.06 million. Hut 8 had a negative return on equity of 122.68% and a net margin of 102.21%. Sell-side analysts expect that Hut 8 Corp. will post 0.5602387 EPS for the current fiscal year.

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.