The most recent trading session ended with Hut 8 (HUT) standing at $10.08, reflecting a +1.1% change from the previous trading day’s close. The stock’s performance was ahead of the S&P 500’s daily loss of 0.48%. Elsewhere, the Dow saw a 0.37% drop, while the tech-heavy Nasdaq depreciated by 0.82%.
The cryptocurrency mining company’s stock climbed 40.03% in the past month, outperforming the Financials sector’s gain of 3.8% and the S&P 500’s gain of 5.3%.
The investment community will be closely monitoring Hut 8’s performance in its next earnings report. The company’s upcoming EPS is projected at -0.07 USD, representing an increase of 88.33% compared to the same quarter of the previous year. Furthermore, our most recent consensus estimate forecasts revenue of $43.3 million, indicating a 169.28% upward move from the same quarter last year.
Additionally, investors should keep an eye on some recent revisions to analyst forecasts for Hut 8. These recent revisions tend to reflect the evolving nature of near-term business trends. As a result, we can interpret positive rating reviews as a good sign for the company’s business outlook.
Our research suggests that these changes in valuations have a direct relationship with upcoming stock price performance. To take advantage of this, we established the Zacks Rank, an exclusive model that takes these rating changes into account and delivers a functional rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, externally-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Cabin 8 is currently Zacks Rank #3 (Hold).
The Financial – Miscellaneous Services industry is part of the Finance sector. This industry, currently with a Zacks Industry Rank of 104, is in the top 42% tiers of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to trust Zacks.com to look at all of these stock impacts, and more, in the following trading sessions.
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Hut 8 Corp. (HUT): Free Analysis Report
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