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Hut 8 (HUT) Ascends While Market Falls: Some Facts to Note
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The most recent trading session ended with Hut 8 (HUT - Free Report) standing at $10.08, reflecting a +1.1% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.48%. Elsewhere, the Dow saw a downswing of 0.37%, while the tech-heavy Nasdaq depreciated by 0.82%.
The crypto currency mining company's stock has climbed by 40.03% in the past month, exceeding the Finance sector's gain of 3.8% 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's upcoming EPS is projected at -$0.07, signifying an 88.33% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $43.3 million, indicating a 169.28% upward movement from the same quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Hut 8. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 is currently a Zacks Rank #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 104, finds itself in the top 42% echelons 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Hut 8 (HUT) Ascends While Market Falls: Some Facts to Note
The most recent trading session ended with Hut 8 (HUT - Free Report) standing at $10.08, reflecting a +1.1% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.48%. Elsewhere, the Dow saw a downswing of 0.37%, while the tech-heavy Nasdaq depreciated by 0.82%.
The crypto currency mining company's stock has climbed by 40.03% in the past month, exceeding the Finance sector's gain of 3.8% 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's upcoming EPS is projected at -$0.07, signifying an 88.33% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $43.3 million, indicating a 169.28% upward movement from the same quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Hut 8. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 is currently a Zacks Rank #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 104, finds itself in the top 42% echelons 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.