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Hut 8 (HUT) Receives a Rating Update from a Top Analyst

Tipranks - Tipranks - Thu May 14, 8:44AM CDT

In a report released today, Nick Giles from B. Riley Securities maintained a Buy rating on Hut 8, with a price target of $130.00.

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Giles covers the Basic Materials sector, focusing on stocks such as Alcoa, Century Aluminum, and Endeavour Silver. According to TipRanks, Giles has an average return of 59.3% and a 73.88% success rate on recommended stocks.

In a report released on May 8, Maxim Group also reiterated a Buy rating on the stock with a $135.00 price target.

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Based on Hut 8’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$69.85 million and a GAAP net loss of C$216.25 million. In comparison, last year the company had a GAAP net loss of C$133.89 million

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