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Hut 8 Mining (HUT) Dips More Than Broader Markets: What You Should Know
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Hut 8 Mining (HUT - Free Report) closed the most recent trading day at $5.69, moving -1.39% from the previous trading session. This change lagged the S&P 500's 0.04% loss on the day. Elsewhere, the Dow lost 0.58%, while the tech-heavy Nasdaq lost 0.18%.
Coming into today, shares of the crypto currency mining company had lost 2.86% in the past month. In that same time, the Business Services sector gained 1.48%, while the S&P 500 gained 2.67%.
Hut 8 Mining will be looking to display strength as it nears its next earnings release.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.71 per share and revenue of $231.1 million. These totals would mark changes of +2266.67% and +68.24%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Hut 8 Mining. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 15.57% lower. Hut 8 Mining currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Hut 8 Mining currently has a Forward P/E ratio of 8.18. This valuation marks a discount compared to its industry's average Forward P/E of 22.67.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 Mining (HUT) Dips More Than Broader Markets: What You Should Know
Hut 8 Mining (HUT - Free Report) closed the most recent trading day at $5.69, moving -1.39% from the previous trading session. This change lagged the S&P 500's 0.04% loss on the day. Elsewhere, the Dow lost 0.58%, while the tech-heavy Nasdaq lost 0.18%.
Coming into today, shares of the crypto currency mining company had lost 2.86% in the past month. In that same time, the Business Services sector gained 1.48%, while the S&P 500 gained 2.67%.
Hut 8 Mining will be looking to display strength as it nears its next earnings release.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.71 per share and revenue of $231.1 million. These totals would mark changes of +2266.67% and +68.24%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Hut 8 Mining. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 15.57% lower. Hut 8 Mining currently has a Zacks Rank of #4 (Sell).
Digging into valuation, Hut 8 Mining currently has a Forward P/E ratio of 8.18. This valuation marks a discount compared to its industry's average Forward P/E of 22.67.
The Technology Services industry is part of the Business Services sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.