Hut 8 Corp. (NASDAQ:HUT) Receives Consensus Rating of “Buy” from Brokerages

Shares of Hut 8 Corp. (NASDAQ:HUT) have been given a consensus rating of “Buy” by the twenty brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, seventeen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $144.8947.

Several brokerages recently issued reports on HUT. Rosenblatt Securities reaffirmed a “buy” rating and set a $124.00 target price on shares of Hut 8 in a research report on Wednesday, August 5th. Morgan Stanley assumed coverage on Hut 8 in a research note on Thursday, July 23rd. They set an “overweight” rating and a $263.00 price objective on the stock. BTIG Research lifted their price objective on shares of Hut 8 from $115.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. B. Riley Financial upped their target price on shares of Hut 8 from $130.00 to $163.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Finally, Compass Point set a $195.00 target price on shares of Hut 8 in a report on Wednesday, July 22nd.

Hut 8 Trading Down 1.6%

NASDAQ:HUT opened at $79.56 on Thursday. The company has a debt-to-equity ratio of 4.22, a current ratio of 19.35 and a quick ratio of 19.35. The firm has a 50-day moving average of $101.92 and a 200-day moving average of $84.32. The company has a market cap of $9.81 billion, a PE ratio of -14.60 and a beta of 4.64. Hut 8 has a one year low of $21.89 and a one year high of $140.80.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The business had revenue of $72.66 million during the quarter, compared to the consensus estimate of $79.37 million. Hut 8 had a negative net margin of 188.59% and a negative return on equity of 0.97%. During the same period in the previous year, the business posted $1.18 EPS. As a group, equities research analysts expect that Hut 8 will post -2.85 EPS for the current fiscal year.

Insider Transactions at Hut 8

In other Hut 8 news, Director Joseph Flinn sold 7,719 shares of Hut 8 stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $117.91, for a total transaction of $910,147.29. Following the transaction, the director owned 10,519 shares of the company’s stock, valued at $1,240,295.29. This trade represents a 42.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Victor Semah sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. Following the completion of the transaction, the insider owned 31,378 shares in the company, valued at $3,922,250. The trade was a 24.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,219 shares of company stock valued at $5,704,552 over the last ninety days. 10.40% of the stock is currently owned by insiders.

Institutional Trading of Hut 8

Hedge funds have recently bought and sold shares of the business. Millennium Management LLC raised its position in Hut 8 by 11.9% in the first quarter. Millennium Management LLC now owns 330,416 shares of the company’s stock worth $3,839,000 after acquiring an additional 35,120 shares during the period. Prudential Financial Inc. purchased a new position in Hut 8 in the second quarter valued at approximately $216,000. Russell Investments Group Ltd. grew its holdings in Hut 8 by 235.8% during 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 period. New York State Common Retirement Fund increased its position 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 worth $605,000 after buying an additional 5,400 shares during the last quarter. Finally, Invesco Ltd. increased its position in Hut 8 by 13.2% in the second quarter. Invesco Ltd. now owns 1,067,985 shares of the company’s stock worth $19,865,000 after buying an additional 124,439 shares during 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.