Hut 8 Corp. (NASDAQ:HUT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Hut 8 Corp. (NASDAQ:HUT) has been given an average recommendation of “Moderate Buy” by the seventeen research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, fifteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $65.5625.

A number of research firms recently commented on HUT. Benchmark reiterated a “buy” rating on shares of Hut 8 in a report on Wednesday, December 17th. BTIG Research restated a “buy” rating and issued a $55.00 price objective on shares of Hut 8 in a research note on Wednesday, December 17th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Hut 8 in a research report on Thursday, February 26th. Roth Mkm reiterated a “buy” rating and set a $80.00 target price on shares of Hut 8 in a research note on Tuesday, January 27th. Finally, Weiss Ratings lowered Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd.

Hut 8 Stock Down 5.3%

Hut 8 stock opened at $47.46 on Monday. The firm has a market capitalization of $5.26 billion, a PE ratio of -20.46 and a beta of 4.42. The company’s 50-day moving average is $54.39 and its 200-day moving average is $46.88. Hut 8 has a fifty-two week low of $10.04 and a fifty-two week high of $66.07. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.09 and a quick ratio of 1.09.

Insiders Place Their Bets

In other Hut 8 news, CFO Sean Joseph Glennan sold 4,625 shares of Hut 8 stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total transaction of $226,856.25. Following the completion of the transaction, the chief financial officer directly owned 12,068 shares of the company’s stock, valued at $591,935.40. The trade was a 27.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Victor Semah sold 5,498 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total transaction of $269,676.90. Following the completion of the transaction, the insider owned 24,796 shares in the company, valued at approximately $1,216,243.80. This represents a 18.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 11.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Hut 8 by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock valued at $366,526,000 after acquiring an additional 250,320 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Hut 8 by 4,669,387.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after acquiring an additional 4,062,367 shares during the period. Ameriprise Financial Inc. grew its position in shares of Hut 8 by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock valued at $104,133,000 after purchasing an additional 504,652 shares during the last quarter. SRS Investment Management LLC acquired a new position in shares of Hut 8 in the fourth quarter valued at approximately $131,838,000. Finally, Sachem Head Capital Management LP bought a new position in shares of Hut 8 during the fourth quarter worth approximately $129,780,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

About Hut 8

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.