Q2 2022 Earnings Forecast for Hut 8 Mining Corp. (TSE:HUT) Issued By DA Davidson

Hut 8 Mining Corp. (TSE:HUTGet Rating) – Equities researchers at DA Davidson issued their Q2 2022 earnings estimates for shares of Hut 8 Mining in a report issued on Friday, May 20th. DA Davidson analyst C. Brendler forecasts that the company will post earnings per share of $0.06 for the quarter.

Several other brokerages have also weighed in on HUT. Stifel Nicolaus assumed coverage on shares of Hut 8 Mining in a research report on Thursday, March 24th. They set a “buy” rating and a C$11.00 target price on the stock. HC Wainwright reduced their price target on shares of Hut 8 Mining from C$24.00 to C$6.50 and set a “buy” rating on the stock in a report on Thursday, May 19th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Hut 8 Mining currently has a consensus rating of “Buy” and an average price target of C$12.38.

Shares of HUT opened at C$2.87 on Monday. The company has a current ratio of 17.96, a quick ratio of 5.40 and a debt-to-equity ratio of 7.19. The firm’s 50-day moving average is C$5.37 and its two-hundred day moving average is C$8.61. Hut 8 Mining has a twelve month low of C$2.81 and a twelve month high of C$20.61. The firm has a market capitalization of C$499.92 million and a P/E ratio of -5.30.

Hut 8 Mining (TSE:HUTGet Rating) last issued its earnings results on Thursday, March 17th. The company reported C$0.02 earnings per share for the quarter, missing the consensus estimate of C$0.20 by C($0.18). The business had revenue of C$57.90 million for the quarter, compared to the consensus estimate of C$54.20 million.

About Hut 8 Mining (Get Rating)

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

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