Hut 8 (NASDAQ:HUT) Stock Price Up 10.3% – Should You Buy?

Hut 8 Corp. (NASDAQ:HUT) shares rose 10.3% during trading on Monday . The company traded as high as $55.25 and last traded at $56.5380. Approximately 2,133,129 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 4,026,019 shares. The stock had previously closed at $51.27.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HUT. Piper Sandler restated an “overweight” rating on shares of Hut 8 in a report on Thursday, December 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hut 8 in a research report on Monday, December 29th. JMP Securities raised their target price on shares of Hut 8 from $25.00 to $65.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 21st. Citigroup reaffirmed an “outperform” rating on shares of Hut 8 in a research note on Tuesday, October 21st. 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 given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Hut 8 has an average rating of “Buy” and an average target price of $53.76.

Hut 8 Stock Performance

The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -148.41 and a beta of 4.41. The stock’s 50 day moving average price is $44.57 and its 200 day moving average price is $34.75. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14.

Hut 8 (NASDAQ:HUT) last released its earnings results on Tuesday, November 4th. The company reported ($0.07) earnings per share for the quarter, beating 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 business had revenue of $80.72 million during the quarter, compared to analysts’ expectations of $64.70 million. Analysts expect that Hut 8 Corp. will post -0.53 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in HUT. Ameriprise Financial Inc. raised its stake in Hut 8 by 1,043.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company’s stock valued at $46,255,000 after acquiring an additional 2,269,237 shares during the period. Value Aligned Research Advisors LLC boosted its position in Hut 8 by 110.2% during the third quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company’s stock worth $67,845,000 after purchasing an additional 1,021,955 shares during the period. Voloridge Investment Management LLC acquired a new position in shares of Hut 8 in the third quarter valued at $35,044,000. Nishkama Capital LLC bought a new position in shares of Hut 8 in the third quarter valued at about $28,137,000. Finally, Thames Capital Management LLC acquired a new stake in shares of Hut 8 during the 3rd quarter worth about $25,084,000. 31.75% of the stock is currently owned by institutional investors.

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.