Hut 8 (NASDAQ:HUT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Hut 8 (NASDAQ:HUT) from a sell rating to a hold rating in a research note released on Saturday morning.

A number of other analysts have also weighed in on HUT. Roth Mkm reaffirmed a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research note on Tuesday, January 27th. Rosenblatt Securities reissued a “buy” rating and set a $65.00 target price on shares of Hut 8 in a research note on Thursday, December 18th. Needham & Company LLC restated a “buy” rating and set a $60.00 price target on shares of Hut 8 in a report on Friday, January 16th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hut 8 in a research note on Monday, December 29th. Finally, Benchmark restated a “buy” rating on shares of Hut 8 in a report on Wednesday, December 17th. Two research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $62.35.

Hut 8 Stock Performance

Shares of HUT opened at $56.18 on Friday. The firm has a fifty day moving average of $50.54 and a 200-day moving average of $39.77. The company has a market cap of $6.07 billion, a price-to-earnings ratio of -144.05 and a beta of 4.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.72 and a current ratio of 0.72. Hut 8 has a 1 year low of $10.04 and a 1 year high of $66.07.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings data 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. The firm had revenue of $80.72 million for the quarter, compared to the consensus estimate of $64.70 million. Hut 8 had a net margin of 115.39% and a return on equity of 8.06%. As a group, equities analysts anticipate that Hut 8 will post -0.53 earnings per share for the current year.

Institutional Investors Weigh In On Hut 8

Institutional investors have recently made changes to their positions in the stock. Strs Ohio increased its stake in Hut 8 by 278.8% in the fourth quarter. Strs Ohio now owns 25,000 shares of the company’s stock valued at $1,148,000 after purchasing an additional 18,400 shares in the last quarter. Danske Bank A S bought a new stake in shares of Hut 8 in the 4th quarter valued at $51,000. Activest Wealth Management acquired a new stake in Hut 8 during the 4th quarter worth $49,000. State of New Jersey Common Pension Fund D bought a new position in Hut 8 during the fourth quarter worth about $2,562,000. Finally, Moody Aldrich Partners LLC bought a new position in shares of Hut 8 during the 4th quarter valued at about $4,980,000. 31.75% of the stock is owned by institutional investors and hedge funds.

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.