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

Shares of Hut 8 Corp. (NASDAQ:HUT) have received an average rating of “Moderate Buy” from the eighteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $107.7222.

Several research firms recently commented on HUT. Needham & Company LLC raised their price target on shares of Hut 8 from $88.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Jefferies Financial Group started coverage on shares of Hut 8 in a research note on Thursday, May 14th. They issued a “buy” rating and a $156.00 target price for the company. Compass Point set a $130.00 target price on shares of Hut 8 in a research note on Wednesday, May 13th. Weiss Ratings cut shares of Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Hut 8 in a research note on Thursday, February 26th.

Insider Buying and Selling at Hut 8

In other Hut 8 news, Director Rick Rickertsen sold 17,491 shares of Hut 8 stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total value of $1,924,010.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sean Joseph Glennan sold 4,625 shares of Hut 8 stock in a transaction that occurred 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 sale, the chief financial officer owned 12,068 shares of the company’s stock, valued at $591,935.40. This trade represents a 27.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 74,628 shares of company stock valued at $6,976,321 over the last three months. 10.40% of the stock is owned by insiders.

Institutional Trading of Hut 8

A number of institutional investors have recently added to or reduced their stakes in the business. Glenmede Trust Co. NA lifted its stake in Hut 8 by 30.1% in the first quarter. Glenmede Trust Co. NA now owns 21,161 shares of the company’s stock valued at $993,000 after acquiring an additional 4,896 shares during the last quarter. Dayah Capital LLC raised its position in shares of Hut 8 by 12.6% in the first quarter. Dayah Capital LLC now owns 217,920 shares of the company’s stock valued at $10,223,000 after purchasing an additional 24,456 shares during the period. Amundi raised its position in shares of Hut 8 by 26.4% in the first quarter. Amundi now owns 8,187 shares of the company’s stock valued at $384,000 after purchasing an additional 1,712 shares during the period. California State Teachers Retirement System raised its position in shares of Hut 8 by 21.7% in the first quarter. California State Teachers Retirement System now owns 114,909 shares of the company’s stock valued at $5,390,000 after purchasing an additional 20,469 shares during the period. Finally, Engle Capital Management L.P. bought a new position in shares of Hut 8 in the first quarter valued at approximately $7,027,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Stock Performance

HUT stock opened at $112.24 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 stock has a market cap of $12.64 billion, a P/E ratio of -37.41 and a beta of 4.61. The firm has a 50 day simple moving average of $86.14 and a 200 day simple moving average of $62.88. Hut 8 has a 52 week low of $15.26 and a 52 week high of $140.80.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The company had revenue of $139.31 million for the quarter, compared to analyst estimates of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. Research analysts anticipate that Hut 8 will post -1.29 earnings per share for the current fiscal year.

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.