Hut 8 (HUT) Set to Announce Quarterly Earnings on Wednesday

Hut 8 (TSE:HUT) is set to release its earnings data before the market opens on Wednesday, November 13th. Analysts expect Hut 8 to post earnings of C($0.36) per share for the quarter.

Hut 8 (TSE:HUT) last posted its quarterly earnings results on Tuesday, August 13th. The company reported C$0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of C($0.12) by C$0.14. The company had revenue of C$48.18 million for 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%.

Hut 8 Stock Performance

HUT opened at C$34.23 on Tuesday. The business has a fifty day simple moving average of C$18.16 and a 200-day simple moving average of C$17.16. The firm has a market cap of C$3.20 billion, a PE ratio of -31.99 and a beta of 3.45. The company has a quick ratio of 1.26, a current ratio of 1.67 and a debt-to-equity ratio of 55.19. Hut 8 has a fifty-two week low of C$8.35 and a fifty-two week high of C$35.25.

Analyst Ratings Changes

Separately, HC Wainwright upgraded Hut 8 from a “strong sell” rating to a “strong-buy” rating in a report on Wednesday, August 14th.

About Hut 8

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.