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Are Business Services Stocks Lagging Hut 8 Mining (HUT) This Year?
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The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Hut 8 Mining (HUT - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Hut 8 Mining is a member of the Business Services sector. This group includes 318 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Hut 8 Mining is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for HUT's full-year earnings has moved 44.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, HUT has gained about 167.1% so far this year. Meanwhile, stocks in the Business Services group have gained about 17.3% on average. This means that Hut 8 Mining is outperforming the sector as a whole this year.
RCM Technologies, Inc. (RCMT - Free Report) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 119.4%.
The consensus estimate for RCM Technologies, Inc.'s current year EPS has increased 11.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Hut 8 Mining is a member of the Technology Services industry, which includes 176 individual companies and currently sits at #81 in the Zacks Industry Rank. On average, stocks in this group have gained 41.1% this year, meaning that HUT is performing better in terms of year-to-date returns.
In contrast, RCM Technologies, Inc. falls under the Staffing Firms industry. Currently, this industry has 18 stocks and is ranked #183. Since the beginning of the year, the industry has moved +6.7%.
Investors with an interest in Business Services stocks should continue to track Hut 8 Mining and RCM Technologies, Inc. These stocks will be looking to continue their solid performance.
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Are Business Services Stocks Lagging Hut 8 Mining (HUT) This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Hut 8 Mining (HUT - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Hut 8 Mining is a member of the Business Services sector. This group includes 318 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Hut 8 Mining is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for HUT's full-year earnings has moved 44.7% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, HUT has gained about 167.1% so far this year. Meanwhile, stocks in the Business Services group have gained about 17.3% on average. This means that Hut 8 Mining is outperforming the sector as a whole this year.
RCM Technologies, Inc. (RCMT - Free Report) is another Business Services stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 119.4%.
The consensus estimate for RCM Technologies, Inc.'s current year EPS has increased 11.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Hut 8 Mining is a member of the Technology Services industry, which includes 176 individual companies and currently sits at #81 in the Zacks Industry Rank. On average, stocks in this group have gained 41.1% this year, meaning that HUT is performing better in terms of year-to-date returns.
In contrast, RCM Technologies, Inc. falls under the Staffing Firms industry. Currently, this industry has 18 stocks and is ranked #183. Since the beginning of the year, the industry has moved +6.7%.
Investors with an interest in Business Services stocks should continue to track Hut 8 Mining and RCM Technologies, Inc. These stocks will be looking to continue their solid performance.