Home Bitcoin News Bitcoin Mining Zacks Funding Analysis Upgrades Hut 8 Mining (NASDAQ:HUT) to “Maintain”

Zacks Funding Analysis Upgrades Hut 8 Mining (NASDAQ:HUT) to “Maintain”

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Hut 8 Mining (NASDAQ:HUTGet Rating) was upgraded by Zacks Investment Research from a “sturdy promote” ranking to a “maintain” ranking in a analysis observe issued on Tuesday, Zacks.com reviews.

In line with Zacks, “Hut 8 Mining Corp. is a targeted digital asset miners. Hut 8 Mining Corp. is predicated in TORONTO. “

A number of different brokerages have additionally lately weighed in on HUT. Canaccord Genuity Group dropped their worth goal on shares of Hut 8 Mining from $12.00 to $6.00 and set a “purchase” ranking for the corporate in a analysis report on Friday, Could thirteenth. HC Wainwright decreased their worth goal on shares of Hut 8 Mining from $19.00 to $5.00 and set a “purchase” ranking for the corporate in a report on Thursday, Could nineteenth. Lastly, Canaccord Genuity Group decreased their worth goal on shares of Hut 8 Mining from $20.00 to $12.00 and set a “purchase” ranking for the corporate in a report on Tuesday, March twenty second. One funding analyst has rated the inventory with a maintain ranking and 4 have assigned a purchase ranking to the corporate’s inventory. In line with information from MarketBeat.com, Hut 8 Mining has a mean ranking of “Purchase” and a mean goal worth of $10.00.

HUT traded down $0.20 throughout buying and selling on Tuesday, hitting $2.24. 8,480,651 shares of the inventory traded palms, in comparison with its common quantity of seven,716,292. The agency has a market capitalization of $390.97 million and a P/E ratio of -7.47. The corporate has a debt-to-equity ratio of 0.05, a present ratio of 20.13 and a fast ratio of 20.13. The agency has a 50-day shifting common of $4.24 and a 200 day shifting common of $6.78. Hut 8 Mining has a 12-month low of $2.19 and a 12-month excessive of $16.57.

Hut 8 Mining (NASDAQ:HUTGet Rating) final introduced its quarterly earnings outcomes on Thursday, March seventeenth. The corporate reported $0.02 earnings per share for the quarter, lacking the consensus estimate of $0.16 by ($0.14). The agency had income of $45.94 million for the quarter, in comparison with analysts’ expectations of $43.16 million. Hut 8 Mining had a unfavourable internet margin of 27.23% and a optimistic return on fairness of 4.99%. As a bunch, equities analysts predict that Hut 8 Mining will submit 0.55 EPS for the present fiscal 12 months.

Hedge funds have lately made modifications to their positions within the inventory. Quantbot Applied sciences LP bought a brand new stake in shares of Hut 8 Mining through the 1st quarter valued at about $28,000. Allworth Monetary LP bought a brand new stake in shares of Hut 8 Mining through the 4th quarter valued at about $31,000. Lazard Asset Administration LLC bought a brand new stake in shares of Hut 8 Mining through the 4th quarter valued at about $35,000. Fifth Third Bancorp bought a brand new stake in shares of Hut 8 Mining through the 4th quarter valued at about $39,000. Lastly, Citigroup Inc. boosted its holdings in shares of Hut 8 Mining by 1,045.6% through the 1st quarter. Citigroup Inc. now owns 8,592 shares of the corporate’s inventory valued at $47,000 after buying a further 7,842 shares over the last quarter. 15.28% of the inventory is at the moment owned by institutional traders.

Hut 8 Mining Firm Profile (Get Rating)

Hut 8 Mining Corp. operates as a cryptocurrency mining firm in North America. The corporate engages in industrial scale bitcoin mining operations. It additionally owns and operates 38 BlockBoxes in Drumheller, Alberta; and 51 BlockBoxes in Medication Hat, Alberta. Hut 8 Mining Corp. was integrated in 2011 and is headquartered in Toronto, Canada.

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