Hut 8 Corp. (NASDAQ:HUT) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Hut 8 has a consensus analyst rating of “Moderate Buy”, with 16 of 17 research firms rating the stock a buy and an average 12-month price target of about $99.94.
• Several analysts raised their price targets on Hut 8 recently, including Piper Sandler and Needham, reflecting growing optimism around the stock.
• The company’s latest earnings showed a loss per share of $1.98, worse than estimates, even though revenue of $139.31 million came in above expectations.

Hut 8 Corp. (NASDAQ:HUT - Get Free Report) has been given an average rating of "Moderate Buy" by the seventeen research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $99.9375.

Several research analysts have weighed in on the stock. Piper Sandler increased their price target on shares of Hut 8 from $93.00 to $127.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 6th. Citigroup reissued an "outperform" rating on shares of Hut 8 in a research report on Tuesday, April 28th. Keefe, Bruyette & Woods raised their target price on Hut 8 from $55.00 to $75.00 and gave the stock a "moderate buy" rating in a report on Tuesday, January 27th. Needham & Company LLC lifted their target price on Hut 8 from $88.00 to $128.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Finally, Rosenblatt Securities boosted their price target on Hut 8 from $89.00 to $124.00 and gave the company a "buy" rating in a report on Friday.

Insider Activity

In related news, CFO Sean Joseph Glennan sold 4,625 shares of the business's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the completion of the transaction, the chief financial officer directly owned 12,068 shares in the company, valued at approximately $591,935.40. The trade was a 27.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Victor Semah sold 10,518 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $76.83, for a total transaction of $808,097.94. Following the completion of the sale, the insider directly owned 41,378 shares of the company's stock, valued at $3,179,071.74. This represents a 20.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 20,641 shares of company stock worth $1,304,631 in the last ninety days. Corporate insiders own 10.40% of the company's stock.

Institutional Trading of Hut 8

Hedge funds and other institutional investors have recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in shares of Hut 8 by 1.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company's stock valued at $734,000 after buying an additional 254 shares in the last quarter. CWM LLC increased 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 buying an additional 301 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Hut 8 by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company's stock valued at $331,000 after acquiring an additional 321 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Hut 8 by 1.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company's stock valued at $996,000 after acquiring an additional 362 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Hut 8 by 4.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company's stock valued at $413,000 after acquiring an additional 388 shares in the last quarter. 31.75% of the stock is owned by hedge funds and other institutional investors.

Hut 8 Trading Up 3.8%

Shares of NASDAQ:HUT opened at $102.19 on Tuesday. The stock's 50-day simple moving average is $62.49 and its two-hundred day simple moving average is $54.00. The stock has a market capitalization of $11.51 billion, a price-to-earnings ratio of -34.06 and a beta of 4.48. Hut 8 has a 52-week low of $14.74 and a 52-week high of $111.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86.

Hut 8 (NASDAQ:HUT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The business had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. Analysts expect that Hut 8 will post -1.27 EPS for the current year.

About Hut 8

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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