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Hut 8 (HUT) Flat As Market Gains: What You Should Know
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The most recent trading session ended with Hut 8 (HUT - Free Report) standing at $6.88, reflecting no shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.23%. Elsewhere, the Dow gained 0.37%, while the tech-heavy Nasdaq added 0.07%.
The the stock of crypto currency mining company has fallen by 42.67% in the past month, lagging the Finance sector's gain of 0.54% and the S&P 500's gain of 5.3%.
The investment community will be closely monitoring the performance of Hut 8 in its forthcoming earnings report. The company is predicted to post an EPS of -$0.30, indicating a 50% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $23.7 million, showing a 47.36% escalation compared to the year-ago quarter.
It is also important to note the recent changes to analyst estimates for Hut 8. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Hut 8 currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Hut 8 is presently being traded at a Forward P/E ratio of 40.47. This valuation marks a premium compared to its industry's average Forward P/E of 10.35.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Hut 8 (HUT) Flat As Market Gains: What You Should Know
The most recent trading session ended with Hut 8 (HUT - Free Report) standing at $6.88, reflecting no shift from the previouse trading day's closing. This move lagged the S&P 500's daily gain of 0.23%. Elsewhere, the Dow gained 0.37%, while the tech-heavy Nasdaq added 0.07%.
The the stock of crypto currency mining company has fallen by 42.67% in the past month, lagging the Finance sector's gain of 0.54% and the S&P 500's gain of 5.3%.
The investment community will be closely monitoring the performance of Hut 8 in its forthcoming earnings report. The company is predicted to post an EPS of -$0.30, indicating a 50% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $23.7 million, showing a 47.36% escalation compared to the year-ago quarter.
It is also important to note the recent changes to analyst estimates for Hut 8. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Hut 8 currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Hut 8 is presently being traded at a Forward P/E ratio of 40.47. This valuation marks a premium compared to its industry's average Forward P/E of 10.35.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 167, which puts it in the bottom 34% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.