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Hut 8 Mining (HUT) Outpaces Stock Market Gains: What You Should Know
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Hut 8 Mining (HUT - Free Report) closed the most recent trading day at $5.56, moving +0.72% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.34%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq lost 0.47%.
Prior to today's trading, shares of the crypto currency mining company had lost 2.99% over the past month. This has lagged the Business Services sector's gain of 3.05% and the S&P 500's gain of 3.75% in that time.
Investors will be hoping for strength from Hut 8 Mining as it approaches its next earnings release. On that day, Hut 8 Mining is projected to report earnings of $0.16 per share, which would represent year-over-year growth of 100%. Our most recent consensus estimate is calling for quarterly revenue of $46.37 million, up 92.17% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.52 per share and revenue of $210.63 million. These totals would mark changes of +1633.33% and +53.33%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Hut 8 Mining. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 25.77% lower within the past month. Hut 8 Mining is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Hut 8 Mining has a Forward P/E ratio of 10.55 right now. This valuation marks a discount compared to its industry's average Forward P/E of 22.98.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Hut 8 Mining (HUT) Outpaces Stock Market Gains: What You Should Know
Hut 8 Mining (HUT - Free Report) closed the most recent trading day at $5.56, moving +0.72% from the previous trading session. The stock outpaced the S&P 500's daily gain of 0.34%. Elsewhere, the Dow gained 0.4%, while the tech-heavy Nasdaq lost 0.47%.
Prior to today's trading, shares of the crypto currency mining company had lost 2.99% over the past month. This has lagged the Business Services sector's gain of 3.05% and the S&P 500's gain of 3.75% in that time.
Investors will be hoping for strength from Hut 8 Mining as it approaches its next earnings release. On that day, Hut 8 Mining is projected to report earnings of $0.16 per share, which would represent year-over-year growth of 100%. Our most recent consensus estimate is calling for quarterly revenue of $46.37 million, up 92.17% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.52 per share and revenue of $210.63 million. These totals would mark changes of +1633.33% and +53.33%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Hut 8 Mining. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 25.77% lower within the past month. Hut 8 Mining is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Hut 8 Mining has a Forward P/E ratio of 10.55 right now. This valuation marks a discount compared to its industry's average Forward P/E of 22.98.
The Technology Services industry is part of the Business Services sector. This group has a Zacks Industry Rank of 171, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.