Hut 8 Corp. (NASDAQ:HUT) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Analysts remain bullish on Hut 8: Nineteen brokerages assign the stock an average “Buy” rating, with a consensus 12-month price target of approximately $144.89. Several firms recently raised their targets, including Benchmark to $195 and B. Riley to $163.
• Recent quarterly results missed expectations: Hut 8 reported an adjusted loss of $1.27 per share versus the expected $0.55 loss, while revenue of $72.66 million fell short of the $79.37 million consensus estimate. Analysts expect a full-year loss of $2.85 per share.
• Shares show significant volatility and insider selling: HUT opened at $82.08, compared with a 52-week range of $20.69 to $140.80, and has a beta of 4.64. Insiders sold 48,219 shares worth about $5.7 million over the past three months, while institutional investors own 31.75% of the company.

Shares of Hut 8 Corp. (NASDAQ:HUT - Get Free Report) have earned an average rating of "Buy" from the nineteen research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold recommendation, seventeen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $144.8947.

A number of research analysts recently weighed in on HUT shares. Piper Sandler lifted their target price on shares of Hut 8 from $127.00 to $143.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. B. Riley Financial increased their price target on Hut 8 from $130.00 to $163.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Rosenblatt Securities reissued a "buy" rating and set a $124.00 price target on shares of Hut 8 in a report on Wednesday, August 5th. Benchmark boosted their price objective on Hut 8 from $165.00 to $195.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Finally, Citizens Jmp upped their price objective on Hut 8 from $100.00 to $140.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 7th.

Hut 8 Price Performance

Shares of NASDAQ:HUT opened at $82.08 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. Hut 8 has a 1-year low of $20.69 and a 1-year high of $140.80. The company has a market capitalization of $10.12 billion, a P/E ratio of -15.06 and a beta of 4.64. The firm's 50 day simple moving average is $104.04 and its two-hundred day simple moving average is $83.77.

Hut 8 (NASDAQ:HUT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.72). The firm had revenue of $72.66 million during the quarter, compared to analysts' expectations 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 period last year, the company earned $1.18 earnings per share. Research analysts expect that Hut 8 will post -2.85 EPS for the current fiscal year.

Insider Activity at Hut 8

In related news, insider Victor Semah sold 10,000 shares of Hut 8 stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the sale, the insider owned 31,378 shares of the company's stock, valued at approximately $3,922,250. This trade represents a 24.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Flinn sold 7,719 shares of the business's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $117.91, for a total value of $910,147.29. Following the completion of the transaction, the director directly owned 10,519 shares in the company, valued at approximately $1,240,295.29. This represents a 42.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 48,219 shares of company stock worth $5,704,552 in the last three months. 10.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hut 8

Hedge funds have recently modified their holdings of the stock. CoreCap Advisors LLC grew its stake in Hut 8 by 42.1% during the second quarter. CoreCap Advisors LLC now owns 540 shares of the company's stock valued at $62,000 after acquiring an additional 160 shares in the last quarter. Arlington Trust Co LLC increased its holdings in Hut 8 by 175.0% in the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company's stock valued at $32,000 after acquiring an additional 175 shares during the last quarter. GAMMA Investing LLC lifted its stake in Hut 8 by 35.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,057 shares of the company's stock worth $122,000 after purchasing an additional 274 shares in the last quarter. CWM LLC lifted its stake in Hut 8 by 37.4% in the 4th quarter. CWM LLC now owns 1,106 shares of the company's stock worth $51,000 after purchasing an additional 301 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Hut 8 by 1.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company's stock valued at $996,000 after purchasing an additional 362 shares during the last quarter. Hedge funds and other institutional investors own 31.75% of the company's stock.

Hut 8 Company Profile

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.

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