Brokerages Set Hut 8 Corp. (NASDAQ:HUT) PT at $53.76

Shares of Hut 8 Corp. (NASDAQ:HUT) have earned a consensus recommendation of “Buy” from the nineteen analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $56.7647.

A number of analysts have issued reports on the stock. Benchmark reiterated a “buy” rating on shares of Hut 8 in a research note on Wednesday, December 17th. Wall Street Zen upgraded shares of Hut 8 from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Canaccord Genuity Group raised their target price on Hut 8 from $54.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Citigroup reaffirmed an “outperform” rating on shares of Hut 8 in a research report on Tuesday, October 21st. Finally, Roth Capital reissued a “buy” rating on shares of Hut 8 in a report on Tuesday, December 23rd.

Hut 8 Stock Performance

Shares of HUT stock opened at $60.04 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.72 and a quick ratio of 0.72. Hut 8 has a fifty-two week low of $10.04 and a fifty-two week high of $62.68. The stock’s 50-day moving average is $44.95 and its two-hundred day moving average is $35.22. The firm has a market cap of $6.49 billion, a P/E ratio of -153.95 and a beta of 4.41.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.09. Hut 8 had a return on equity of 8.06% and a net margin of 115.39%.The business had revenue of $80.72 million during the quarter, compared to analyst estimates of $64.70 million. Analysts predict that Hut 8 will post -0.53 earnings per share for the current fiscal year.

Institutional Trading of Hut 8

A number of institutional investors and hedge funds have recently modified their holdings of HUT. GAMMA Investing LLC bought a new stake in shares of Hut 8 during the 4th quarter worth $30,000. Nisa Investment Advisors LLC boosted its holdings in Hut 8 by 116.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,515 shares of the company’s stock valued at $28,000 after acquiring an additional 815 shares during the period. Advisors Asset Management Inc. grew its position in shares of Hut 8 by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $30,000 after purchasing an additional 655 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Hut 8 by 67.2% during the 3rd quarter. NewEdge Advisors LLC now owns 2,257 shares of the company’s stock worth $79,000 after purchasing an additional 907 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Hut 8 by 235.8% during the 2nd 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 period. 31.75% of the stock is currently owned by institutional investors and hedge funds.

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.