Hut 8 Mining Corp. (NASDAQ:HUT – Get Rating) – Investment analysts at DA Davidson lifted their Q3 2022 earnings estimates for shares of Hut 8 Mining in a report issued on Thursday, September 22nd. DA Davidson analyst C. Brendler now expects that the company will post earnings per share of ($0.03) for the quarter, up from their prior forecast of ($0.04). DA Davidson has a "Buy" rating on the stock. The consensus estimate for Hut 8 Mining's current full-year earnings is $0.08 per share. DA Davidson also issued estimates for Hut 8 Mining's FY2022 earnings at $0.04 EPS and FY2023 earnings at $0.03 EPS.

Hut 8 Mining (NASDAQ:HUT – Get Rating) last released its earnings results on Thursday, August 11th. The company reported ($0.12) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.16). The business had revenue of $34.36 million during the quarter, compared to analysts' expectations of $41.77 million. Hut 8 Mining had a positive return on equity of 2.24% and a negative net margin of 58.30%.

Hut 8 Mining Stock Down 6.1 %

Institutional Trading of Hut 8 Mining

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of Hut 8 Mining during the second quarter worth $3,697,000. State Street Corp acquired a new position in shares of Hut 8 Mining during the second quarter worth $811,000. CIBC Asset Management Inc grew its stake in shares of Hut 8 Mining by 474.3% during the first quarter. CIBC Asset Management Inc now owns 692,058 shares of the company's stock worth $3,818,000 after purchasing an additional 571,558 shares in the last quarter. Gillson Capital LP grew its stake in shares of Hut 8 Mining by 1,099.7% during the first quarter. Gillson Capital LP now owns 516,006 shares of the company's stock worth $2,848,000 after purchasing an additional 472,996 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Hut 8 Mining by 58.5% during the second quarter. Van ECK Associates Corp now owns 1,230,409 shares of the company's stock worth $1,636,000 after purchasing an additional 454,366 shares in the last quarter. Hedge funds and other institutional investors own 12.40% of the company's stock.

Hut 8 Mining Company Profile

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Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America. The company engages in industrial scale bitcoin mining operations. It also owns and operates 38 BlockBoxes in Drumheller, Alberta; and 51 BlockBoxes in Medicine Hat, Alberta. Hut 8 Mining Corp. was incorporated in 2011 and is headquartered in Toronto, Canada.

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