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

Hut 8 Corp. (NASDAQ:HUT) has been given an average rating of “Moderate Buy” by the nineteen research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and eighteen have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $133.10.

Several equities research analysts recently issued reports on the company. B. Riley Financial upped their price target on Hut 8 from $76.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Northland Securities set a $120.00 price objective on Hut 8 in a research note on Thursday, May 7th. Canaccord Genuity Group lifted their price objective on shares of Hut 8 from $70.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings lowered shares of Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Finally, Piper Sandler upped their target price on shares of Hut 8 from $93.00 to $127.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th.

Hut 8 Price Performance

HUT stock opened at $109.99 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The business has a 50-day simple moving average of $111.59 and a two-hundred day simple moving average of $79.31. The company has a market capitalization of $12.38 billion, a P/E ratio of -36.66 and a beta of 4.62. Hut 8 has a 52-week low of $18.68 and a 52-week high of $140.80.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing the consensus estimate 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 company had revenue of $139.31 million during the quarter, compared to analysts’ expectations of $78.53 million. Research analysts expect that Hut 8 will post -2.12 EPS for the current fiscal year.

Insider Activity

In other Hut 8 news, Director Joseph Flinn sold 30,500 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $116.21, for a total value of $3,544,405.00. Following the completion of the sale, the director directly owned 18,238 shares of the company’s stock, valued at approximately $2,119,437.98. This represents a 62.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the completion of the sale, the director owned 17,491 shares of the company’s stock, valued at approximately $1,924,010. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 112,724 shares of company stock valued at $12,184,340 in the last three months. 10.40% of the stock is owned by company insiders.

Institutional Trading of Hut 8

A number of hedge funds have recently bought and sold shares of the business. CoreCap Advisors LLC raised its stake in shares of Hut 8 by 42.1% in the second quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock valued at $62,000 after buying an additional 160 shares during the period. Arlington Trust Co LLC grew its stake in shares of Hut 8 by 175.0% during the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock worth $32,000 after acquiring an additional 175 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Hut 8 by 1.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock worth $734,000 after acquiring an additional 254 shares during the period. GAMMA Investing LLC increased its holdings in Hut 8 by 35.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,057 shares of the company’s stock worth $122,000 after acquiring an additional 274 shares during the last quarter. Finally, CWM LLC increased its holdings in Hut 8 by 37.4% in the 4th quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after acquiring an additional 301 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors.

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.