Hut 8 Corp. (NASDAQ:HUT) Given Average Rating of “Moderate Buy” by Brokerages

Hut 8 Corp. (NASDAQ:HUT) has been assigned a consensus rating of “Moderate Buy” from the eighteen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and seventeen have given a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $115.7895.

HUT has been the subject of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of Hut 8 in a research report on Thursday, May 14th. They set a “buy” rating and a $156.00 price target for the company. Compass Point set a $130.00 price target on shares of Hut 8 in a research report on Wednesday, May 13th. Citigroup reissued an “outperform” rating on shares of Hut 8 in a research report on Tuesday, April 28th. Loop Capital set a $226.00 price target on shares of Hut 8 in a research report on Monday, June 22nd. Finally, Citizens Jmp raised their price target 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.

Hut 8 Stock Performance

HUT opened at $115.44 on Wednesday. Hut 8 has a 12-month low of $18.03 and a 12-month high of $140.80. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $13.00 billion, a PE ratio of -38.48 and a beta of 4.61. The firm has a 50 day moving average of $106.77 and a two-hundred day moving average of $72.36.

Hut 8 (NASDAQ:HUT) last posted its quarterly 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 return on equity of 0.35% and a negative net margin of 109.77%.The business had revenue of $139.31 million for the quarter, compared to analysts’ expectations of $78.53 million. On average, analysts anticipate that Hut 8 will post -1.29 EPS for the current year.

Insider Buying and Selling at Hut 8

In other Hut 8 news, Director Joseph Flinn sold 30,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the completion of the transaction, the director directly owned 18,238 shares of the company’s stock, valued at approximately $2,119,437.98. This trade represents a 62.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Amy Marie Wilkinson sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the sale, the director directly owned 262,136 shares in the company, valued at $26,418,066.08. The trade was a 7.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 112,724 shares of company stock valued at $12,184,340. 10.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hut 8

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Glenmede Trust Co. NA grew its stake in shares of Hut 8 by 30.1% during the 1st quarter. Glenmede Trust Co. NA now owns 21,161 shares of the company’s stock worth $993,000 after purchasing an additional 4,896 shares during the period. Dayah Capital LLC grew its stake in shares of Hut 8 by 12.6% during the 1st quarter. Dayah Capital LLC now owns 217,920 shares of the company’s stock worth $10,223,000 after purchasing an additional 24,456 shares during the period. Amundi grew its stake in shares of Hut 8 by 26.4% during the 1st quarter. Amundi now owns 8,187 shares of the company’s stock worth $384,000 after purchasing an additional 1,712 shares during the period. California State Teachers Retirement System grew its stake in shares of Hut 8 by 21.7% during the 1st quarter. California State Teachers Retirement System now owns 114,909 shares of the company’s stock worth $5,390,000 after purchasing an additional 20,469 shares during the period. Finally, Engle Capital Management L.P. acquired a new stake in shares of Hut 8 during the 1st quarter worth approximately $7,027,000. 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.