HC Wainwright Trims Hut 8 Mining (TSE:HUT) Target Price to C$6.50

Hut 8 Mining (TSE:HUT – Get Rating) had its target price reduced by HC Wainwright from C$24.00 to C$6.50 in a research report released on Thursday morning, MarketBeat.com reports. They currently have a buy rating on the stock.

Separately, Stifel Nicolaus initiated coverage on shares of Hut 8 Mining in a research note on Thursday, March 24th. They issued a buy rating and a C$11.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of Buy and an average price target of C$12.38.

Shares of HUT opened at C$3.19 on Thursday. The stock has a fifty day moving average of C$5.50 and a two-hundred day moving average of C$8.83. The company has a debt-to-equity ratio of 7.19, a quick ratio of 5.40 and a current ratio of 17.96. The company has a market capitalization of C$555.66 million and a PE ratio of -5.89. Hut 8 Mining has a fifty-two week low of C$2.93 and a fifty-two week high of C$20.61.

Hut 8 Mining (TSE:HUT – Get Rating) last announced its quarterly earnings results on Thursday, March 17th. The company reported C$0.02 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.20 by C($0.18). The company had revenue of C$57.90 million for the quarter, compared to analysts’ expectations of C$54.20 million. As a group, equities research analysts forecast that Hut 8 Mining will post 0.12 earnings per share for the current fiscal year.

Hut 8 Mining Company Profile (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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