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Hut 8 (HUT) Gets a Buy from BTIG

Tipranks - Tipranks - Sat May 9, 7:08AM CDT

In a report released yesterday, Gregory Lewis from BTIG maintained a Buy rating on Hut 8, with a price target of $115.00. The company’s shares closed yesterday at C$137.99.

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Lewis covers the Energy sector, focusing on stocks such as Tidewater, Transocean, and Seadrill Limited. According to TipRanks, Lewis has an average return of 31.3% and a 59.63% success rate on recommended stocks.

Currently, the analyst consensus on Hut 8 is a Strong Buy with an average price target of $108.01, a -21.72% downside from current levels. In a report released today, Rosenblatt Securities also reiterated a Buy rating on the stock with a $124.00 price target.

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Based on Hut 8’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of C$89.85 million and a GAAP net loss of C$283.98 million. In comparison, last year the company earned a revenue of C$339.85 million and had a net profit of C$152.23 million

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