Hut 8 (TSE:HUT) Sets New 12-Month High at $28.50

Shares of Hut 8 Corp. (TSE:HUT) hit a new 52-week high during trading on Tuesday . The company traded as high as C$28.50 and last traded at C$28.25, with a volume of 1146343 shares trading hands. The stock had previously closed at C$27.25.

Analyst Upgrades and Downgrades

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

Hut 8 Trading Down 7.9 %

The company has a debt-to-equity ratio of 29.52, a current ratio of 0.31 and a quick ratio of 1.26. The firm has a market cap of C$2.25 billion, a price-to-earnings ratio of -23.54 and a beta of 3.45. The firm’s fifty day moving average is C$16.58 and its 200-day moving average is C$13.55.

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