Hut 8 (NASDAQ:HUT) Shares Gap Down – Should You Sell?

Hut 8 Corp. (NASDAQ:HUT) shares gapped down before the market opened on Thursday . The stock had previously closed at $54.17, but opened at $49.99. Hut 8 shares last traded at $46.0160, with a volume of 3,249,428 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. BTIG Research reissued a “buy” rating and issued a $55.00 price target on shares of Hut 8 in a report on Wednesday, December 17th. JMP Securities boosted their target price on shares of Hut 8 from $25.00 to $65.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 21st. Rosenblatt Securities restated a “buy” rating and issued a $65.00 target price on shares of Hut 8 in a report on Thursday, December 18th. Wall Street Zen raised shares of Hut 8 from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Northland Securities set a $58.00 price objective on shares of Hut 8 in a research note on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Hut 8 has a consensus rating of “Buy” and an average price target of $62.35.

Hut 8 Price Performance

The company has a market capitalization of $5.73 billion, a PE ratio of -136.05 and a beta of 4.42. 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 company’s 50 day moving average price is $51.35 and its 200-day moving average price is $40.38.

Hut 8 (NASDAQ:HUT) last issued its earnings results on Tuesday, November 4th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. The firm had revenue of $80.72 million for the quarter, compared to analysts’ expectations of $64.70 million. Hut 8 had a return on equity of 8.06% and a net margin of 115.39%. On average, sell-side analysts forecast that Hut 8 Corp. will post -0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hut 8

A number of hedge funds have recently made changes to their positions in HUT. Vanguard Group Inc. boosted its position in Hut 8 by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock worth $366,526,000 after purchasing an additional 250,320 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Hut 8 by 4,669,387.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after buying an additional 4,062,367 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Hut 8 by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock worth $104,133,000 after buying an additional 504,652 shares during the period. Geode Capital Management LLC grew its stake in shares of Hut 8 by 13.7% in the second quarter. Geode Capital Management LLC now owns 2,563,091 shares of the company’s stock valued at $47,679,000 after buying an additional 309,113 shares in the last quarter. Finally, Value Aligned Research Advisors LLC raised its holdings in shares of 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 valued at $67,845,000 after buying an additional 1,021,955 shares during the period. Hedge funds and other institutional investors own 31.75% of the company’s stock.

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.