Hut 8 Mining Corp Down 1.97% To $1.98 After Earnings

Hut 8 Mining Corp (HUT) said before open Tuesday that it lost $0.18 per share in quarter three 2023. The company reported $12.7 million in revenue

In the same quarter a year ago, the company lost $0.09 per share on revenue of $24.3 million.

The stock is down 1.97% to $1.98 after the report.

Despite Hut 8 Mining Corp reporting a decline in revenues, earnings increased signaling a rise in profit margins.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Hut 8 Mining Corp a Neutral Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 0. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Hut 8 Mining Corp is North America's innovation-focused digital asset miner. Located in energy-rich Alberta, Canada. Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined bitcoin than any crypto miner or publicly-traded company globally. It is executing on its commitment to mining and holding bitcoin and has a diversified business and revenue strategy to grow and protect shareholder value regardless of bitcoin's market direction.