Hut 8 (NASDAQ:HUT) Stock Price Down 4.9% – Should You Sell?

Hut 8 Corp. (NASDAQ:HUT) shares fell 4.9% on Monday . The company traded as low as $100.88 and last traded at $104.59. Approximately 3,965,064 shares were traded during trading, a decline of 17% from the average session volume of 4,794,250 shares. The stock had previously closed at $109.99.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Cantor Fitzgerald upped their price target on shares of Hut 8 from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Loop Capital set a $226.00 price target on shares of Hut 8 in a report on Monday, June 22nd. Citigroup reissued an “outperform” rating on shares of Hut 8 in a research note on Tuesday, April 28th. Weiss Ratings downgraded Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Finally, Canaccord Genuity Group raised their target price on Hut 8 from $70.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Eighteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $133.10.

Hut 8 Price Performance

The firm has a market cap of $11.78 billion, a price-to-earnings ratio of -34.86 and a beta of 4.62. The business’s 50-day simple moving average is $111.59 and its two-hundred day simple moving average is $79.46. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12.

Hut 8 (NASDAQ:HUT) last issued its quarterly 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). Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%.The firm had revenue of $139.31 million during the quarter, compared to analyst estimates of $78.53 million. As a group, research analysts expect that Hut 8 Corp. will post -2.12 EPS for the current fiscal year.

Insider Activity

In related news, Director Joseph Flinn sold 30,500 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $116.21, for a total value of $3,544,405.00. Following the transaction, the director owned 18,238 shares in the company, valued at $2,119,437.98. The trade was a 62.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Victor Semah sold 10,518 shares of the company’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $76.83, for a total transaction of $808,097.94. Following the sale, the insider directly owned 41,378 shares in the company, valued at $3,179,071.74. This trade represents a 20.27% decrease in their position. The SEC filing for this sale provides additional information. 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 sold 112,724 shares of company stock worth $12,184,340 over the last ninety days. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Hut 8

A number of hedge funds have recently added to or reduced their stakes in HUT. Handelsbanken Fonder AB lifted its stake in Hut 8 by 42.5% in the second quarter. Handelsbanken Fonder AB now owns 32,200 shares of the company’s stock valued at $3,717,000 after buying an additional 9,600 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Hut 8 during the 2nd quarter worth approximately $854,000. GAMMA Investing LLC grew its position in shares of Hut 8 by 35.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,057 shares of the company’s stock worth $122,000 after buying an additional 274 shares during the period. Arlington Trust Co LLC increased its stake in shares of Hut 8 by 175.0% in the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock valued at $32,000 after acquiring an additional 175 shares in the last quarter. Finally, CoreCap Advisors LLC increased its stake in shares of Hut 8 by 42.1% in the 2nd quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock valued at $62,000 after acquiring an additional 160 shares in the last quarter. 31.75% of the stock is currently owned by institutional investors.

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.