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

Key Points

• Hut 8 received a consensus “Moderate Buy” rating from 19 analysts, with 18 buy ratings and one sell rating. The average 1-year price target is $133.10.
• Several brokers recently raised their price targets on the stock, including Piper Sandler, Needham, Benchmark, Jefferies, and Rosenblatt. Benchmark was the most bullish of the group, lifting its target to $195.
• Hut 8’s latest earnings missed expectations, posting a loss of $1.98 per share versus the expected loss of $0.33, even though revenue topped estimates at $139.31 million. The stock was also noted as trading down 6.5% and had insider selling over the last quarter.

Shares of Hut 8 Corp. (NASDAQ:HUT - Get Free Report) have received an average rating of "Moderate Buy" from the nineteen brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and eighteen have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $133.10.

A number of brokerages have weighed in on HUT. Piper Sandler increased their price target on Hut 8 from $93.00 to $127.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Needham & Company LLC upped their target price on Hut 8 from $128.00 to $145.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Benchmark boosted their target price on shares of Hut 8 from $165.00 to $195.00 and gave the company a "buy" rating in a research report on Wednesday. Jefferies Financial Group initiated coverage on shares of Hut 8 in a research note on Thursday, May 14th. They set a "buy" rating and a $156.00 target price on the stock. Finally, Rosenblatt Securities restated a "buy" rating and issued a $124.00 price target on shares of Hut 8 in a report on Tuesday, July 21st.

Hut 8 Trading Down 6.5%

NASDAQ:HUT opened at $109.99 on Friday. Hut 8 has a 52 week low of $18.68 and a 52 week high of $140.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The firm's fifty day moving average is $111.59 and its 200-day moving average is $79.31. The firm has a market cap of $12.38 billion, a P/E ratio of -36.66 and a beta of 4.62.

Hut 8 (NASDAQ:HUT - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.33) by ($1.65). The firm had revenue of $139.31 million for 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%. Equities analysts expect that Hut 8 will post -2.12 earnings per share for the current year.

Insider Activity at Hut 8

In related news, insider Victor Semah sold 10,518 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $76.83, for a total value 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. The trade was a 20.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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. Also, Director Rick Rickertsen sold 17,491 shares of the company's stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total value of $1,924,010.00. Following the transaction, the director directly owned 17,491 shares in the company, valued at approximately $1,924,010. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 112,724 shares of company stock worth $12,184,340 over the last quarter. Company insiders own 10.40% of the company's stock.

Institutional Investors Weigh In On Hut 8

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of Hut 8 during the fourth quarter worth approximately $30,000. Arlington Trust Co LLC grew its position 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 purchasing an additional 175 shares during the period. Imprint Wealth LLC acquired a new stake in Hut 8 in the 4th quarter valued at $38,000. Russell Investments Group Ltd. increased its stake in Hut 8 by 235.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company's stock valued at $46,000 after purchasing an additional 1,719 shares in the last quarter. Finally, Harbor Investment Advisory LLC acquired a new position in Hut 8 during the first quarter worth $47,000. Institutional investors and hedge funds 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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