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

Shares of Hut 8 Corp. (NASDAQ:HUT) have earned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and seventeen have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $107.7222.

A number of research analysts have issued reports on the stock. Needham & Company LLC boosted their target price on shares of Hut 8 from $88.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Citigroup reissued an “outperform” rating on shares of Hut 8 in a research note on Tuesday, April 28th. Citizens Jmp boosted their price target on shares of Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 7th. Arete Research started coverage on shares of Hut 8 in a research report on Monday, March 23rd. They set a “buy” rating and a $136.00 price target on the stock. Finally, Rosenblatt Securities boosted their price target on shares of Hut 8 from $89.00 to $124.00 and gave the stock a “buy” rating in a research report on Friday, May 8th.

Hut 8 Trading Down 6.2%

Hut 8 stock opened at $105.68 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $90.08 and a two-hundred day moving average price of $64.66. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of -35.23 and a beta of 4.61. 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 earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). The firm had revenue of $139.31 million for the quarter, compared to analyst estimates of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. Sell-side analysts expect that Hut 8 will post -1.29 earnings per share for the current year.

Insiders Place Their Bets

In other Hut 8 news, Director Amy Marie Wilkinson sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the sale, the director directly owned 262,136 shares in the company, valued at approximately $26,418,066.08. The trade was a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victor Semah sold 10,518 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $76.83, for a total transaction of $808,097.94. Following the sale, the insider owned 41,378 shares in the company, valued at $3,179,071.74. This trade represents a 20.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 64,505 shares of company stock worth $6,479,788. 10.40% of the stock is owned by corporate insiders.

Institutional Trading of Hut 8

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its holdings in shares of Hut 8 by 1.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock worth $734,000 after purchasing an additional 254 shares in the last quarter. CWM LLC increased its position in shares of Hut 8 by 37.4% in the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after acquiring an additional 301 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Hut 8 by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock worth $331,000 after acquiring an additional 321 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Hut 8 by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock worth $996,000 after acquiring an additional 362 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of Hut 8 by 4.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company’s stock worth $413,000 after acquiring an additional 388 shares in the last quarter. 31.75% of the stock is currently owned by institutional investors.

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.