B. Riley Issues Negative Forecast for Hut 8 Earnings

Hut 8 Corp. (NASDAQ:HUT - Free Report) - Research analysts at B. Riley lowered their Q3 2025 earnings per share estimates for shares of Hut 8 in a research report issued to clients and investors on Wednesday, July 9th. B. Riley analyst N. Giles now expects that the company will post earnings per share of ($0.20) for the quarter, down from their prior estimate of ($0.18). B. Riley has a "Strong-Buy" rating on the stock. The consensus estimate for Hut 8's current full-year earnings is ($0.53) per share. B. Riley also issued estimates for Hut 8's FY2025 earnings at ($0.81) EPS and FY2027 earnings at ($0.46) EPS.

Hut 8 (NASDAQ:HUT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The firm had revenue of $20.88 million during the quarter, compared to analysts' expectations of $33.68 million. Hut 8 had a negative net margin of 39.92% and a positive return on equity of 13.00%.

HUT has been the subject of a number of other reports. Canaccord Genuity Group restated a "buy" rating and issued a $32.00 price objective on shares of Hut 8 in a research report on Monday, May 12th. Northland Securities initiated coverage on shares of Hut 8 in a research note on Monday, April 21st. They set an "outperform" rating and a $20.00 price objective for the company. Citizens Jmp raised shares of Hut 8 to a "strong-buy" rating and set a $25.00 target price for the company in a research report on Thursday, May 22nd. JMP Securities assumed coverage on Hut 8 in a research report on Thursday, May 22nd. They issued a "market outperform" rating and a $25.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $21.00 price target on shares of Hut 8 in a research note on Friday, May 9th. Fifteen research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $25.76.

Hut 8 Trading Down 1.1%

Shares of NASDAQ:HUT traded down $0.24 during trading on Friday, hitting $21.83. 5,585,580 shares of the stock were exchanged, compared to its average volume of 5,834,772. The company has a fifty day moving average price of $17.36 and a two-hundred day moving average price of $17.21. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.26 and a quick ratio of 1.26. Hut 8 has a 12-month low of $8.73 and a 12-month high of $31.95.

Insider Transactions at Hut 8

In other news, insider Victor Semah sold 11,363 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $12.95, for a total transaction of $147,150.85. Following the completion of the transaction, the insider directly owned 15,738 shares of the company's stock, valued at approximately $203,807.10. This represents a 41.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Flinn sold 11,069 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $15.77, for a total value of $174,558.13. Following the sale, the director owned 19,791 shares in the company, valued at $312,104.07. The trade was a 35.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Hut 8 by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 6,546,935 shares of the company's stock valued at $76,075,000 after purchasing an additional 87,550 shares during the period. Jericho Capital Asset Management L.P. bought a new position in Hut 8 during the fourth quarter valued at about $37,400,000. BIT Capital GmbH grew its holdings in Hut 8 by 11.5% during the fourth quarter. BIT Capital GmbH now owns 1,818,456 shares of the company's stock worth $37,260,000 after acquiring an additional 187,773 shares during the period. D. E. Shaw & Co. Inc. bought a new stake in Hut 8 in the fourth quarter worth about $27,115,000. Finally, Massachusetts Financial Services Co. MA raised its position in Hut 8 by 181.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,287,163 shares of the company's stock worth $14,957,000 after acquiring an additional 829,484 shares in the last quarter. Institutional investors own 31.75% of the company's stock.

About Hut 8

Hut 8 Corp., together with its subsidiaries, acquires, builds, manages, and operates data centers for digital assets mining, computing, and artificial intelligence in the United States. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other.