Hut 8 Mining (HUT) Stock Forecast, Price & News

4 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Hut 8 Mining in the last twelve months. There are currently 3 hold ratings and 1 buy rating for the stock. The consensus among Wall Street research analysts is that investors should "hold" HUT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in HUT, but not buy additional shares or sell existing shares.
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4 equities research analysts have issued twelve-month price targets for Hut 8 Mining's shares. Their HUT share price forecasts range from $1.60 to $5.00. On average, they expect the company's share price to reach $2.87 in the next year. This suggests a possible upside of 37.8% from the stock's current price.
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Hut 8 Mining's stock was trading at $0.85 on January 1st, 2023. Since then, HUT shares have increased by 144.7% and is now trading at $2.08.
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Hut 8 Mining saw a drop in short interest in May. As of May 15th, there was short interest totaling 13,590,000 shares, a drop of 7.1% from the April 30th total of 14,630,000 shares. Based on an average daily volume of 9,840,000 shares, the days-to-cover ratio is currently 1.4 days. Currently, 6.2% of the shares of the stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, August 10th 2023.
View our HUT earnings forecast.

Hut 8 Mining Corp. (NASDAQ:HUT) issued its earnings results on Thursday, May, 11th. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.01. The firm had revenue of $14.07 million for the quarter, compared to the consensus estimate of $14.45 million. Hut 8 Mining had a negative net margin of 157.77% and a negative trailing twelve-month return on equity of 24.75%.

iShares Blockchain and Tech ETF holds 169,178 shares of HUT stock, representing 4.40% of its portfolio.

Hut 8 Mining trades on the NASDAQ under the ticker symbol "HUT."

Hut 8 Mining's stock is owned by a variety of retail and institutional investors. Top institutional investors include Van ECK Associates Corp (0.73%), State Street Corp (0.73%), Mirae Asset Global Investments Co. Ltd. (0.69%), American Century Companies Inc. (0.45%), SIG North Trading ULC (0.00%) and Susquehanna International Group LLP (0.00%).

Shares of HUT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of HUT stock can currently be purchased for approximately $2.08.

Hut 8 Mining (NASDAQ:HUT) has a market capitalization of $460.24 million and generates $115.90 million in revenue each year. The company earns $-186,770,000.00 in net income (profit) each year or ($0.79) on an earnings per share basis.

Hut 8 Mining's mailing address is 130 King Street West, Suite 1800, Toronto, Ontario M5X 1E3. The official website for the company is hut8mining.com. The company can be reached via phone at (647) 256-1992.