Hut 8 (NASDAQ:HUT) Stock Rating Upgraded by Jefferies Financial Group

Hut 8 (NASDAQ:HUT) was upgraded by research analysts at Jefferies Financial Group to a “strong-buy” rating in a report released on Thursday,Zacks.com reports.

Other analysts also recently issued research reports about the company. BTIG Research boosted their price objective on Hut 8 from $90.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Keefe, Bruyette & Woods boosted their target price on shares of Hut 8 from $55.00 to $75.00 and gave the company a “moderate buy” rating in a research note on Tuesday, January 27th. Compass Point set a $130.00 price target on Hut 8 in a research report on Wednesday. Weiss Ratings cut Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Finally, Citizens Jmp increased their target price on shares of Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.72.

Hut 8 Trading Down 6.3%

NASDAQ:HUT opened at $102.47 on Thursday. The stock has a market cap of $11.54 billion, a price-to-earnings ratio of -34.16 and a beta of 4.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. Hut 8 has a 1 year low of $14.74 and a 1 year high of $112.26. The business has a fifty day moving average of $66.88 and a 200-day moving average of $55.72.

Hut 8 (NASDAQ:HUT) last announced its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. The company had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. Equities analysts predict that Hut 8 will post -2.34 earnings per share for the current year.

Insider Buying and Selling

In other Hut 8 news, insider Victor Semah sold 10,518 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $76.83, for a total transaction of $808,097.94. Following the completion of the transaction, the insider directly owned 41,378 shares in the company, valued at $3,179,071.74. This represents a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Rick Rickertsen sold 17,491 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total value of $1,924,010.00. Following the completion of the transaction, the director directly owned 17,491 shares in the company, valued at $1,924,010. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 54,628 shares of company stock worth $4,960,721 in the last 90 days. 10.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in shares of Hut 8 in the fourth quarter valued at approximately $30,000. Imprint Wealth LLC bought a new position in shares of Hut 8 in the 4th quarter valued at about $38,000. Harbor Investment Advisory LLC acquired a new stake in shares of Hut 8 in the first quarter valued at about $47,000. Activest Wealth Management bought a new stake in Hut 8 during the fourth quarter worth about $49,000. Finally, Danske Bank A S acquired a new position in Hut 8 during the fourth quarter valued at approximately $51,000. Institutional investors own 31.75% of the company’s stock.

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.