What is HC Wainwright’s Estimate for Hut 8 FY2024 Earnings?

Hut 8 Corp. (NASDAQ:HUT) – Research analysts at HC Wainwright lifted their FY2024 earnings per share (EPS) estimates for shares of Hut 8 in a research report issued to clients and investors on Thursday, November 14th. HC Wainwright analyst M. Colonnese now anticipates that the company will post earnings per share of ($0.26) for the year, up from their prior estimate of ($0.55). HC Wainwright has a “Buy” rating and a $35.00 price target on the stock. The consensus estimate for Hut 8’s current full-year earnings is ($0.26) per share. HC Wainwright also issued estimates for Hut 8’s Q4 2024 earnings at ($0.18) EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at $0.11 EPS and FY2025 earnings at $0.33 EPS.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group raised their price objective on shares of Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Benchmark raised their target price on Hut 8 from $17.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Craig Hallum upped their price target on Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus raised their price objective on Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC lifted their target price on Hut 8 from $21.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $30.17.

Hut 8 Stock Down 0.9 %

Hut 8 stock opened at $25.04 on Monday. Hut 8 has a fifty-two week low of $6.18 and a fifty-two week high of $28.47. The firm’s 50 day simple moving average is $14.47 and its 200-day simple moving average is $13.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.68.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HUT. Foundations Investment Advisors LLC grew its stake in shares of Hut 8 by 2.0% in the 2nd quarter. Foundations Investment Advisors LLC now owns 48,728 shares of the company’s stock valued at $730,000 after buying an additional 949 shares in the last quarter. AM Investment Strategies LLC lifted its stake in Hut 8 by 3.6% in the third quarter. AM Investment Strategies LLC now owns 44,000 shares of the company’s stock valued at $539,000 after acquiring an additional 1,521 shares during the last quarter. Amalgamated Bank bought a new stake in Hut 8 in the second quarter worth approximately $42,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Hut 8 by 27.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,223 shares of the company’s stock worth $213,000 after acquiring an additional 3,105 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Hut 8 during the 3rd quarter worth $40,000. 31.75% of the stock is owned by institutional investors and hedge funds.

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.