Hut 8 (TSE:HUT) Lifted to “Strong-Buy” at HC Wainwright

Hut 8 (TSE:HUT) was upgraded by equities researchers at HC Wainwright from a “strong sell” rating to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks.com reports.

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

Hut 8 Stock Up 6.2 %

Shares of TSE HUT opened at C$16.00 on Wednesday. The company has a current ratio of 0.31, a quick ratio of 1.26 and a debt-to-equity ratio of 29.52. The company has a 50-day moving average of C$19.67 and a 200 day moving average of C$14.49. Hut 8 has a 12-month low of C$8.35 and a 12-month high of C$28.87. The stock has a market cap of C$1.45 billion, a PE ratio of -14.81 and a beta of 3.45.

Hut 8 (TSE:HUT) last issued its earnings results on Wednesday, May 15th. The company reported C($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of C($0.08) by C($0.15). The company had revenue of C$69.75 million during the quarter, compared to analysts’ expectations of C$72.44 million. Hut 8 had a net margin of 156.36% and a negative return on equity of 122.68%. As a group, sell-side analysts predict that Hut 8 will post -0.52 EPS 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.