What's Going On With Bitcoin Miner Hut 8's Stock After Earnings?
Portfolio Pulse from Erica Kollmann
Hut 8 Corp. (NASDAQ:HUT) shares are trading higher after the company reported its second-quarter financial results. Despite missing revenue and earnings estimates, the company saw improvements in gross margins and energy costs. Analysts have upgraded the stock and raised price targets, indicating potential upside.
August 14, 2024 | 3:07 pm
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Hut 8 Corp. reported Q2 revenue of $35.22 million, missing estimates, and quarterly losses of 78 cents per share. Despite this, the company improved gross margins and reduced energy costs. Analysts upgraded the stock and raised price targets, suggesting potential upside.
Despite missing revenue and earnings estimates, Hut 8's improvements in gross margins and energy costs are positive signs. Analyst upgrades and raised price targets further support a potential short-term price increase.
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