Hut 8 (NASDAQ:HUT) Shares Down 12.4% – Should You Sell?

Hut 8 Corp. (NASDAQ:HUT)’s stock price fell 12.4% on Wednesday . The company traded as low as $55.28 and last traded at $51.6950. 575,219 shares traded hands during trading, a decline of 89% from the average session volume of 5,222,862 shares. The stock had previously closed at $59.02.

Analyst Ratings Changes

HUT has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price objective on Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a report on Tuesday, January 27th. Wall Street Zen raised Hut 8 from a “sell” rating to a “hold” rating in a research note on Saturday. Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Hut 8 in a research report on Friday, January 16th. JMP Securities lifted their price target on shares of Hut 8 from $25.00 to $65.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 21st. Finally, Citigroup reissued an “outperform” rating on shares of Hut 8 in a research report on Tuesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $62.35.

Hut 8 Price Performance

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 has a fifty day moving average price of $50.92 and a two-hundred day moving average price of $40.03. The firm has a market cap of $5.44 billion, a P/E ratio of -129.94 and a beta of 4.42.

Hut 8 (NASDAQ:HUT) last released its quarterly 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. The company had revenue of $80.72 million during the quarter, compared to analysts’ expectations of $64.70 million. Hut 8 had a net margin of 115.39% and a return on equity of 8.06%. Equities analysts anticipate that Hut 8 Corp. will post -0.53 earnings per share for the current year.

Institutional Investors Weigh In On Hut 8

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

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.