Hut 8 Stock Gets Stronger EPS Forecast from Maxim Group

Key Points

• Maxim Group raised Hut 8’s EPS forecasts across multiple periods, including Q3 2026 to a loss of $1.57 per share from $1.62, while maintaining its “Strong-Buy” rating.
• Analyst sentiment remains broadly positive: 22 of 24 analysts rate Hut 8 Buy or Strong Buy, with a consensus price target of $145.77.
• Hut 8 shares opened at $83.61, down 1.9%, after the company’s latest quarterly results missed expectations, reporting a $1.27-per-share loss versus the $0.55 consensus estimate.

Hut 8 Corp. (NASDAQ:HUT - Free Report) - Research analysts at Maxim Group boosted their Q3 2026 earnings per share (EPS) estimates for shares of Hut 8 in a research note issued to investors on Monday, October 12th. Maxim Group analyst A. Klee now expects that the company will post earnings of ($1.57) per share for the quarter, up from their prior forecast of ($1.62). Maxim Group has a "Strong-Buy" rating on the stock. The consensus estimate for Hut 8's current full-year earnings is ($2.97) per share. Maxim Group also issued estimates for Hut 8's Q4 2026 earnings at ($1.45) EPS, FY2026 earnings at ($3.86) EPS, Q1 2027 earnings at ($1.48) EPS, Q2 2027 earnings at ($2.85) EPS, Q3 2027 earnings at ($5.52) EPS, Q4 2027 earnings at ($4.87) EPS, FY2027 earnings at ($14.72) EPS, Q1 2028 earnings at ($4.64) EPS, Q2 2028 earnings at ($8.27) EPS, Q3 2028 earnings at ($7.74) EPS and FY2028 earnings at ($28.03) EPS.

Several other analysts also recently issued reports on HUT. Compass Point set a $195.00 price target on shares of Hut 8 in a research report on Wednesday, July 22nd. UBS Group restated a "buy" rating on shares of Hut 8 in a research note on Thursday, October 8th. B. Riley Financial upped their price objective on shares of Hut 8 from $130.00 to $163.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. BTIG Research raised their price objective on shares of Hut 8 from $115.00 to $150.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Finally, Loop Capital set a $226.00 price objective on shares of Hut 8 in a research note on Monday, June 22nd. Four 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 company's stock. According to data from MarketBeat.com, Hut 8 currently has an average rating of "Buy" and a consensus target price of $145.77.

Hut 8 Stock Down 1.9%

Shares of NASDAQ:HUT opened at $83.61 on Wednesday. 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 has a twelve month low of $31.67 and a twelve month high of $140.80. The stock's 50 day moving average is $89.18 and its 200-day moving average is $94.01.

Hut 8 (NASDAQ:HUT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The firm had revenue of $74.93 million during the quarter, compared to the consensus estimate of $79.37 million. Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%. During the same quarter in the previous year, the company posted $1.18 EPS.

Insider Buying and Selling at Hut 8

In other Hut 8 news, CFO Sean Glennan sold 6,445 shares of Hut 8 stock in a transaction on Monday, August 24th. The shares were sold at an average price of $78.76, for a total transaction 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. The trade was a 26.39% decrease in their position. The transaction was disclosed in a legal 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, Director Mayo Shattuck, III sold 20,000 shares of Hut 8 stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the transaction, the director directly owned 89,408 shares in the company, valued at $8,940,800. This represents a 18.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Hut 8 during the second quarter valued at about $1,093,294,000. Avala Global LP bought a new position in Hut 8 during the second quarter worth about $144,602,000. Wellington Management Group LLP purchased a new position in shares of Hut 8 in the second quarter worth about $97,949,000. Montanova Capital LLC purchased a new position in shares of Hut 8 in the second quarter worth about $77,348,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Hut 8 in the second quarter worth about $56,364,000. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Key Hut 8 News

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

• Positive Sentiment: Maxim Group raised its EPS forecasts across multiple periods, including FY2026 to a loss of $3.86 per share from $4.00, FY2027 to a loss of $14.72 from $15.13, and FY2028 to a loss of $28.03 from $28.33. The firm also increased estimates for each reported quarter from Q3 2026 through Q3 2028. Although the revisions still imply losses, smaller projected losses can signal improving expectations. Maxim maintained a “Strong-Buy” rating on Hut 8.

Hut 8 Company Profile

Hut 8 Corp. NASDAQ: HUT is a North American energy infrastructure and digital asset mining company. Its operations include cryptocurrency mining, with a primary focus on Bitcoin, as well as the development and management of data center infrastructure supported by its energy resources.

The company owns and operates mining and data center facilities in the United States and Canada. In addition to self-mining digital assets, Hut 8 has pursued opportunities in high-performance computing and artificial intelligence infrastructure, using its power capacity, data center sites and related development capabilities to support evolving computing demand.

Hut 8 was originally established as Hut 8 Mining Corp., a Canadian cryptocurrency mining company.

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