Northland Securities Increases Earnings Estimates for Hut 8

Hut 8 Corp. (NASDAQ:HUT) – Stock analysts at Northland Securities increased their FY2026 earnings estimates for Hut 8 in a research note issued on Wednesday, November 4th. Northland Securities analyst M. Grondahl now forecasts that the company will earn ($0.07) per share for the year, up from their previous estimate of ($2.36). The consensus estimate for Hut 8’s current full-year earnings is ($1.33) per share. Northland Securities also issued estimates for Hut 8’s Q4 2026 earnings at ($0.95) EPS.

A number of other equities research analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Cantor Fitzgerald reduced their price target on Hut 8 from $151.00 to $127.00 and set an “overweight” rating on the stock in a research report on Thursday, November 5th. Roth Capital began coverage on Hut 8 in a research note on Wednesday, October 7th. They set a “buy” rating and a $108.00 price objective on the stock. Benchmark lifted their price objective on Hut 8 from $165.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company cut their target price on Hut 8 from $175.00 to $148.00 and set an “overweight” rating for the company in a research report on Thursday, November 5th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $137.45.

Hut 8 Stock Up 8.3%

Shares of HUT opened at $57.02 on Monday. Hut 8 has a 12 month low of $31.67 and a 12 month high of $140.80. The firm’s 50 day moving average is $80.49 and its 200-day moving average is $82.17. The company has a quick ratio of 19.35, a current ratio of 19.35 and a debt-to-equity ratio of 4.22.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $1.70. Hut 8 had a negative net margin of 169.76% and a negative return on equity of 9.99%. The firm had revenue of $71.07 million during the quarter, compared to the consensus estimate of $75.78 million.

Insider Buying and Selling

In related news, CFO Sean Glennan sold 6,445 shares of Hut 8 stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $78.76, for a total value of $507,608.20. Following the transaction, the chief financial officer directly owned 17,978 shares of the company’s stock, valued at $1,415,947.28. This trade represents a 26.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mayo A. Shattuck III sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the transaction, the director owned 89,408 shares of the company’s stock, valued at approximately $8,940,800. This represents a 18.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Hut 8

A number of large investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Hut 8 during the 2nd quarter worth $1,093,294,000. Avala Global LP bought a new stake in shares of Hut 8 during the 2nd quarter worth $144,602,000. Wellington Management Group LLP acquired a new stake in Hut 8 in the second quarter valued at about $97,949,000. Montanova Capital LLC acquired a new stake in Hut 8 in the second quarter valued at about $77,348,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Hut 8 in the second quarter valued at about $56,364,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 News Summary

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Hut 8’s reported $26.6 billion AI pipeline helped support a rebound after an earnings-related selloff, reinforcing hopes that AI data-center demand can become a significant growth driver. Hut 8 Stock Rebounds as AI Pipeline Hits $26.6B
• Positive Sentiment: Northland Securities raised its earnings estimates for Hut 8, a potentially supportive sign that its outlook is improving. Northland Securities Boosts Earnings Estimates for Hut 8
• Positive Sentiment: Management highlighted AI growth prospects and liquidity on its Q3 earnings call, which may reassure investors about the company’s ability to fund its plans. Hut 8 Earnings Call Highlights AI Growth and Liquidity
• Neutral Sentiment: Morgan Stanley cut its Hut 8 price target from $275 to $184 but maintained an “overweight” rating. The retained bullish rating is offset by the substantial target reduction. Morgan Stanley Stock Recommendations
• Neutral Sentiment: Bitcoin mining difficulty is forecast to fall 6.4%. This could affect mining economics, but the report does not establish a direct company-specific impact for Hut 8. Bitcoin Mining Difficulty Is Set for a 6.4% Drop
• Negative Sentiment: Broader concerns about a possible slowdown in AI data-center expansion—including another operator’s delayed revenue target—could weigh on sentiment toward Hut 8’s AI growth plans. Is America’s AI Data Center Boom About to Hit a Brick Wall?

Hut 8 Company Profile

Hut 8 is a North American energy and digital infrastructure company whose businesses include Bitcoin mining, data centers and computing services. It develops and operates facilities that support digital asset mining and other high-performance computing workloads.

The company’s services include infrastructure and managed services for Bitcoin mining, as well as data center capacity and computing solutions. Hut 8 also works on developing and operating energy infrastructure to support its facilities.

Hut 8 Corp was formed in 2023 through the merger of Canadian Bitcoin miner Hut 8 Mining Corp.