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

Hut 8 Corp. (NASDAQ:HUT) – Analysts at HC Wainwright raised their FY2024 earnings per share (EPS) estimates for shares of Hut 8 in a research note issued to investors on Thursday, November 14th. HC Wainwright analyst M. Colonnese now anticipates that the company will post earnings of ($0.26) per share for the year, up from their prior forecast 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.

A number of other analysts have also recently weighed in on the stock. Craig Hallum increased their price objective on shares of Hut 8 from $15.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday. Benchmark raised their price target on shares of Hut 8 from $17.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC boosted their price objective on Hut 8 from $21.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday. Canaccord Genuity Group increased their price objective on Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus lifted their target price on Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a research note on Wednesday, October 30th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $30.17.

Hut 8 Price Performance

HUT stock opened at $25.26 on Monday. Hut 8 has a 1 year low of $6.18 and a 1 year high of $28.47. The company has a current ratio of 1.00, a quick ratio of 1.68 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average is $14.47 and its two-hundred day moving average is $12.97.

Hedge Funds Weigh In On Hut 8

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HUT. Capital Performance Advisors LLP acquired a new stake in shares of Hut 8 in the third quarter valued at $40,000. Amalgamated Bank acquired a new stake in Hut 8 in the 2nd quarter valued at about $42,000. Intech Investment Management LLC acquired a new stake in Hut 8 in the 3rd quarter valued at about $133,000. Victory Capital Management Inc. bought a new position in shares of Hut 8 during the 2nd quarter valued at about $154,000. Finally, XTX Topco Ltd acquired a new position in shares of Hut 8 in the 3rd quarter worth approximately $162,000. 31.75% of the stock is owned by institutional investors.

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.