Hut 8 Boosted by Next-Gen Bitcoin Rigs and Revenue Diversification, Analysts Say [Yahoo! Finance]
Hut 8 Mining Corp. - Common Shares (HUT)
Company Research
Source: Yahoo! Finance
The results came amid an exciting earnings season . Here are some key analyst takeaways. Benchmark analyst Mark Palmer reiterated a Buy rating to Hut 8 Mining and set a price target of $17. Needham analyst John Todaro maintained a Buy rating on Hut 8 Mining with a price target of $15. Benchmark: Hut 8 Corp's second-quarter revenue of $33.5 million fell well short of the consensus estimate of $48.0 million. Its adjusted EBITDA missed the consensus estimate by a wide margin due to a $71.8 million loss on its bitcoin holdings based on their market value at the end of the quarter versus their market value at the end of the first quarter, Palmer noted. However, without the impact of Hut 8 Corps marking-to-market, the adjusted EBITDA would be $14.3 million, higher than the Street estimate of $9 million. The analyst attributed the market's initially adverse reaction to the second-quarter financial results to the company's headline top- and bottom-line misses versus Street estimate
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HUT
News
- Hut 8 Mining Corp (HUT): Hedge Funds Are Bullish On This Cryptocurrency Stock [Yahoo! Finance]Yahoo! Finance
- Hut 8 Operations Update for August 2024GlobeNewswire
- Hut 8 Corp. (NASDAQ: HUT) had its "buy" rating re-affirmed by analysts at Needham & Company LLC. They now have a $15.00 price target on the stock.MarketBeat
- Hut 8 Corp. (NASDAQ: HUT) had its "buy" rating re-affirmed by analysts at Canaccord Genuity Group Inc.. They now have a $22.00 price target on the stock.MarketBeat
- Hut 8 Corp. (NASDAQ: HUT) had its "buy" rating re-affirmed by analysts at Benchmark Co.. They now have a $17.00 price target on the stock.MarketBeat
HUT
Earnings
- 8/13/24 - Miss
HUT
Sec Filings
- 8/23/24 - Form 4
- 8/23/24 - Form 3
- 8/19/24 - Form 4
- HUT's page on the SEC website