Hut 8 Analysts Still Bullish Despite Q1 Miss; Bets On American Bitcoin, HPC/AI Potential
Analysts maintained their rating/price forecast on Hut 8 Corp. (NASDAQ:HUT) following the first quarter results reported on Thursday.
The company reported EPS of $(1.30), which was below the estimated $(0.24) and sales of $21.82 million fell short of the estimated $33.28 million.
H.C. Wainwright & Co. analyst Mike Colonnese maintained a Buy rating with a price forecast of $25.
The analyst writes that despite weak results, Hut 8’s stock jumped 12% on positive High-Performance Computing (HPC)/AI colocation pipeline updates.
Colonnese says that Hut 8’s shift to an energy infrastructure platform (2.6 GW HPC/AI pipeline) warrants a re-rating upon securing stable HPC contracts.
The analyst is also bullish on the company’s legacy mining (American Bitcoin) and expects …
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