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Hut 8 (HUT) Stock Falls Amid Market Uptick: What Investors Need to Know
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The latest trading session saw Hut 8 (HUT - Free Report) ending at $7.72, denoting a -1.91% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 1.03%. Meanwhile, the Dow gained 0.34%, and the Nasdaq, a tech-heavy index, added 1.51%.
The investment community will be paying close attention to the earnings performance of Hut 8 in its upcoming release. The company is expected to report EPS of -$0.07, up 88.33% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $43.3 million, reflecting a 169.28% rise from the equivalent quarter last year.
Investors should also note any recent changes to analyst estimates for Hut 8. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Right now, Hut 8 possesses a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 142, putting it in the bottom 44% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Hut 8 (HUT) Stock Falls Amid Market Uptick: What Investors Need to Know
The latest trading session saw Hut 8 (HUT - Free Report) ending at $7.72, denoting a -1.91% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 1.03%. Meanwhile, the Dow gained 0.34%, and the Nasdaq, a tech-heavy index, added 1.51%.
The investment community will be paying close attention to the earnings performance of Hut 8 in its upcoming release. The company is expected to report EPS of -$0.07, up 88.33% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $43.3 million, reflecting a 169.28% rise from the equivalent quarter last year.
Investors should also note any recent changes to analyst estimates for Hut 8. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Right now, Hut 8 possesses a Zacks Rank of #3 (Hold).
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 142, putting it in the bottom 44% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.