Hut 8 (NASDAQ:HUT) Rating Lowered to “Sell” at Wall Street Zen

Hut 8 (NASDAQ:HUT) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

HUT has been the subject of a number of other research reports. BTIG Research restated a “buy” rating and set a $55.00 target price on shares of Hut 8 in a research report on Wednesday, December 17th. JMP Securities boosted their price target on shares of Hut 8 from $25.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 21st. Cantor Fitzgerald raised their price objective on shares of Hut 8 from $24.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $65.00 target price on shares of Hut 8 in a report on Thursday, December 18th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Hut 8 in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $56.76.

Hut 8 Price Performance

Shares of HUT stock opened at $58.22 on Friday. Hut 8 has a 1 year low of $10.04 and a 1 year high of $62.91. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $47.83 and its 200-day moving average is $37.95. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of -149.28 and a beta of 4.41.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.09. Hut 8 had a net margin of 115.39% and a return on equity of 8.06%. The firm had revenue of $80.72 million during the quarter, compared to analysts’ expectations of $64.70 million. Sell-side analysts forecast that Hut 8 will post -0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Hut 8

Large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. grew its position in Hut 8 by 1,043.0% in the second quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company’s stock valued at $46,255,000 after purchasing an additional 2,269,237 shares in the last quarter. Value Aligned Research Advisors LLC lifted its position in Hut 8 by 110.2% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company’s stock worth $67,845,000 after buying an additional 1,021,955 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in Hut 8 during the 3rd quarter worth about $35,044,000. Nishkama Capital LLC acquired a new position in shares of Hut 8 during the 3rd quarter worth about $28,137,000. Finally, Thames Capital Management LLC bought a new position in shares of Hut 8 in the 3rd quarter valued at about $25,084,000. 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.