Hut 8 Corp. (NASDAQ:HUT) Receives $115.79 Consensus Target Price from Analysts

Hut 8 Corp. (NASDAQ:HUT) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and seventeen have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $115.7895.

HUT has been the subject of a number of research analyst reports. Loop Capital set a $226.00 price target on Hut 8 in a report on Monday, June 22nd. Jefferies Financial Group initiated coverage on shares of Hut 8 in a research note on Thursday, May 14th. They set a “buy” rating and a $156.00 price target on the stock. Needham & Company LLC raised their price target on shares of Hut 8 from $88.00 to $128.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Compass Point set a $130.00 price objective on shares of Hut 8 in a research report on Wednesday, May 13th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $124.00 price objective on shares of Hut 8 in a research report on Thursday, June 11th.

Insider Transactions at Hut 8

In related news, Director Rick Rickertsen sold 17,491 shares of Hut 8 stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total value of $1,924,010.00. Following the completion of the sale, the director directly owned 17,491 shares in the company, valued at $1,924,010. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victor Semah sold 10,518 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $76.83, for a total transaction of $808,097.94. Following the transaction, the insider owned 41,378 shares in the company, valued at approximately $3,179,071.74. The trade was 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. Insiders have sold 112,724 shares of company stock worth $12,184,340 in the last ninety days. 10.40% of the stock is currently owned by insiders.

Institutional Trading of Hut 8

A number of institutional investors have recently bought and sold shares of the business. Millennium Management LLC lifted its stake in shares of Hut 8 by 11.9% in the 1st quarter. Millennium Management LLC now owns 330,416 shares of the company’s stock valued at $3,839,000 after purchasing an additional 35,120 shares during the period. Prudential Financial Inc. acquired a new stake in shares of Hut 8 during the second quarter worth $216,000. Russell Investments Group Ltd. increased its holdings in Hut 8 by 235.8% in the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock valued at $46,000 after purchasing an additional 1,719 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Hut 8 by 19.9% in the second quarter. New York State Common Retirement Fund now owns 32,540 shares of the company’s stock valued at $605,000 after purchasing an additional 5,400 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Hut 8 by 13.2% in the second quarter. Invesco Ltd. now owns 1,067,985 shares of the company’s stock valued at $19,865,000 after buying an additional 124,439 shares during the period. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Stock Down 6.8%

Shares of HUT opened at $96.74 on Wednesday. The company has a market capitalization of $10.89 billion, a P/E ratio of -32.25 and a beta of 4.62. Hut 8 has a one year low of $18.68 and a one year high of $140.80. The business’s 50 day simple moving average is $108.94 and its 200-day simple moving average is $74.47. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The business had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. As a group, sell-side analysts predict that Hut 8 will post -1.29 EPS for the current fiscal year.

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.