HC Wainwright Has Bullish Outlook for Hut 8 FY2024 Earnings

Hut 8 Corp. (TSE:HUT) – Equities researchers at HC Wainwright raised their FY2024 earnings estimates for Hut 8 in a report released on Thursday, November 14th. HC Wainwright analyst M. Colonnese now expects that the company will post earnings per share of ($0.41) for the year, up from their previous forecast of ($0.66). HC Wainwright 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 Down 1.3 %

Shares of TSE:HUT opened at C$35.08 on Monday. 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 52-week low of C$8.35 and a 52-week high of C$39.79. The company has a 50 day moving average of C$20.31 and a two-hundred day moving average of C$17.96. The company has a market capitalization of C$3.28 billion, a price-to-earnings ratio of -32.79 and a beta of 3.45.

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.