Hut 8 Corp. (NASDAQ:HUT) Receives Average Rating of “Buy” from Analysts

Shares of Hut 8 Corp. (NASDAQ:HUT) have been given a consensus recommendation of “Buy” by the eighteen research firms that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $59.1176.

Several equities research analysts have recently commented on HUT shares. Wall Street Zen upgraded shares of Hut 8 from a “sell” rating to a “hold” rating in a research report on Saturday. Roth Mkm reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a research note on Tuesday. B. Riley lifted their target price on shares of Hut 8 from $61.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Rosenblatt Securities reissued a “buy” rating and issued a $65.00 price target on shares of Hut 8 in a research note on Thursday, December 18th. Finally, JMP Securities raised their price target on Hut 8 from $25.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 21st.

Hut 8 Trading Down 9.3%

HUT stock opened at $55.83 on Friday. The business has a fifty day moving average of $50.20 and a 200-day moving average of $39.41. The company has a market cap of $6.03 billion, a P/E ratio of -143.15 and a beta of 4.41. Hut 8 has a twelve month low of $10.04 and a twelve month high of $66.07. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.14.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.09. The firm had revenue of $80.72 million during the quarter, compared to analyst estimates of $64.70 million. Hut 8 had a return on equity of 8.06% and a net margin of 115.39%. As a group, equities research analysts expect that Hut 8 will post -0.53 EPS for the current year.

Institutional Trading of Hut 8

Hedge funds have recently bought and sold shares of the stock. Activest Wealth Management bought a new position in Hut 8 in the fourth quarter valued at approximately $49,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of Hut 8 during the fourth quarter worth $2,562,000. Moody Aldrich Partners LLC bought a new stake in Hut 8 in the 4th quarter valued at $4,980,000. R Squared Ltd bought a new stake in Hut 8 in the 4th quarter valued at $248,000. Finally, M&T Bank Corp acquired a new position in Hut 8 in the 4th quarter worth $203,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Company Profile

Hut 8 Corp., trading on the Nasdaq under the symbol HUT, is a North American digital infrastructure company specializing in cryptocurrency mining and high‐performance computing. Founded in 2017 and headquartered in Toronto, Canada, Hut 8 operates purpose‐built data centers that house fleets of specialized ASIC and GPU servers. Through its flagship mining facilities in Alberta and Ontario, the company leverages low‐cost, low‐carbon power sources—such as hydroelectric and natural gas—to support sustainable bitcoin production.