Hut 8 (NASDAQ:HUT) Stock Price Down 6.8% – Should You Sell?

Shares of Hut 8 Corp. (NASDAQ:HUT) were down 6.8% during trading on Friday . The stock traded as low as $50.30 and last traded at $49.22. Approximately 611,055 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 6,267,963 shares. The stock had previously closed at $52.80.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Hut 8 in a research report on Thursday, December 18th. Roth Capital reiterated a “buy” rating on shares of Hut 8 in a report on Tuesday. Craig Hallum restated a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a research note on Thursday, December 18th. B. Riley reaffirmed a “buy” rating on shares of Hut 8 in a research report on Wednesday, October 22nd. Finally, Northland Securities set a $58.00 price target on shares of Hut 8 in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $53.76.

Hut 8 Price Performance

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 stock has a market cap of $5.25 billion, a PE ratio of -124.46 and a beta of 4.41. The business has a 50-day moving average price of $43.81 and a 200 day moving average price of $32.53.

Hut 8 (NASDAQ:HUT) last announced 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. The company had revenue of $80.72 million during the quarter, compared to analyst estimates of $64.70 million. Hut 8 had a return on equity of 8.06% and a net margin of 115.39%. As a group, research analysts forecast that Hut 8 Corp. will post -0.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hut 8

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Value Aligned Research Advisors LLC grew its position in shares of Hut 8 by 110.2% in the third quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company’s stock valued at $67,845,000 after purchasing an additional 1,021,955 shares in the last quarter. IFP Advisors Inc boosted its stake in Hut 8 by 23.9% in the 3rd quarter. IFP Advisors Inc now owns 4,764 shares of the company’s stock worth $166,000 after purchasing an additional 919 shares during the period. CIBC Bancorp USA Inc. purchased a new position in Hut 8 during the 3rd quarter valued at about $350,000. NewEdge Advisors LLC increased its position in shares of Hut 8 by 67.2% during the third quarter. NewEdge Advisors LLC now owns 2,257 shares of the company’s stock valued at $79,000 after buying an additional 907 shares during the period. Finally, Central Asset Investments & Management Holdings HK Ltd purchased a new stake in shares of Hut 8 in the third quarter worth about $766,000. 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.