In a report released yesterday, Joseph Vafi from Canaccord Genuity maintained a Buy rating on Hut 8, with a price target of $53.91. The company’s shares closed yesterday at C$75.67.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Vafi covers the Technology sector, focusing on stocks such as Circle Internet Group, Inc. Class A, Strategy, and Block. According to TipRanks, Vafi has an average return of 35.4% and a 51.22% success rate on recommended stocks.
Currently, the analyst consensus on Hut 8 is a Strong Buy with an average price target of C$51.88, a -31.44% downside from current levels. In a report released today, Rosenblatt Securities also reiterated a Buy rating on the stock with a $65.00 price target.
Based on Hut 8’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of C$133.89 million. In comparison, last year the company earned a revenue of C$69.78 million and had a net profit of C$350.15 million
Read More on TSE:HUT:
Disclaimer & DisclosureReport an Issue
- Hut 8 price target raised to $65 from $30 at Rosenblatt
- Crypto Currents: Miners surge after Aligned Data Centers megadeal
- Roth believes entire sector stands to benefit from Aligned Data Centers deal
- Hut 8 price target raised to $55 from $33 at BTIG
- Hut 8 Mining call volume above normal and directionally bullish
/A%20concept%20image%20of%20a%20flying%20car_%20Image%20by%20Phonlamai%20Photo%20via%20Shutterstock_.jpg)
/A%20concept%20image%20of%20space_%20Image%20by%20Canities%20via%20Shutterstock_.jpg)
/Oracle%20Corp_%20office%20logo-by%20Mesut%20Dogan%20via%20iStock.jpg)
