Northland Securities Raises Earnings Estimates for Hut 8

Key Points

• Northland Securities sharply improved its FY2026 forecast, narrowing its expected loss per share to $0.07 from $2.36; the broader consensus estimate is a loss of $1.33 per share.
• Analysts overall remain positive, with a consensus Buy rating and $141.59 price target, although Needham lowered its target to $101 while retaining a Buy rating.
• Hut 8 reported quarterly EPS of $0.98, beating the consensus estimate of a $0.72 loss, but revenue of $71.07 million came in below the $75.78 million estimate.

Hut 8 Corp. (NASDAQ:HUT - Free Report) - Analysts at Northland Securities upped their FY2026 earnings estimates for shares of Hut 8 in a report issued on Wednesday, November 4th. Northland Securities analyst M. Grondahl now expects that the company will post earnings per share of ($0.07) for the year, up from their previous forecast 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.

Several other equities analysts also recently commented on the company. Wall Street Zen upgraded Hut 8 from a "strong sell" rating to a "sell" rating in a research report on Saturday. Freedom Capital upgraded Hut 8 to a "strong-buy" rating in a research report on Tuesday, August 18th. Freedom Broker upgraded Hut 8 to a "strong-buy" rating in a research note on Tuesday, August 18th. Maxim Group upgraded Hut 8 to a "strong-buy" rating in a research note on Wednesday, August 5th. Finally, Needham & Company LLC cut their price objective on Hut 8 from $138.00 to $101.00 and set a "buy" rating for the company in a report on Thursday. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $141.59.

Hut 8 Price Performance

HUT opened at $52.65 on Monday. The company has a market capitalization of $6.32 billion, a P/E ratio of -10.74 and a beta of 4.54. The company has a debt-to-equity ratio of 3.84, a current ratio of 9.48 and a quick ratio of 9.48. The firm's fifty day moving average price is $80.94 and its two-hundred day moving average price is $82.18. Hut 8 has a fifty-two week low of $31.67 and a fifty-two week high of $140.80.

Hut 8 (NASDAQ:HUT - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $1.70. The company had revenue of $71.07 million for the quarter, compared to the consensus estimate of $75.78 million. Hut 8 had a negative net margin of 169.76% and a negative return on equity of 9.68%.

Insider Activity

In related news, Director Mayo Shattuck, III sold 20,000 shares of Hut 8 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 $8,940,800. This trade represents a 18.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sean Glennan sold 6,445 shares of Hut 8 stock in a transaction on Monday, August 24th. The stock was 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 in the company, valued at approximately $1,415,947.28. This represents a 26.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 10.40% of the company's stock.

Institutional Trading of Hut 8

A number of institutional investors have recently made changes to their positions in the business. GK Wealth Management LLC bought a new stake in Hut 8 in the 3rd quarter valued at $25,000. Arlington Trust Co LLC lifted its holdings in Hut 8 by 175.0% during the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company's stock valued at $32,000 after purchasing an additional 175 shares during the last quarter. Heritage Family Offices LLP acquired a new stake in Hut 8 during the 3rd quarter valued at $35,000. Parkside Financial Bank & Trust boosted its position in Hut 8 by 258.5% during the second quarter. Parkside Financial Bank & Trust now owns 380 shares of the company's stock worth $44,000 after purchasing an additional 274 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Hut 8 during the third quarter worth $50,000. Institutional investors own 31.75% of the company's stock.

Key Hut 8 News

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

• Positive Sentiment: Investors are increasingly valuing crypto miners for their AI data-center potential, lifting the sector even as Bitcoin was flat; Hut 8 was among the gainers. Article: Riot Platforms Jumps as AI Data Center Bets Lift Bitcoin Miners
• Positive Sentiment: Hut 8’s Q3 call highlighted its AI growth plans, including $27 billion in data-center leases, $7.5 billion in project financing and plans to expand power capacity. The company also expects 700 megawatts at Beacon Point in Q1 2027 on a path toward a full gigawatt. Article: HUT Q3 Earnings Call Focuses on AI Expansion and Project Financing Article: Hut 8 Anticipates Beacon Point Energization and Expands Buyback
• Neutral Sentiment: B. Riley reaffirmed its Buy rating with a $132 target, trimmed slightly from $134. Wells Fargo, Needham and Cantor Fitzgerald also retained positive ratings despite lowering their targets. B. Riley Recommendations
• Negative Sentiment: Hut 8’s Q3 earnings missed estimates, and several firms cut price targets: Wells Fargo to $148, Needham to $101 and Cantor Fitzgerald to $127. The cuts may temper enthusiasm, though the firms maintained Overweight or Buy ratings. Cantor Fitzgerald Target Cut Wells Fargo Target Cut Needham Target Cut

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.

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