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

Key Points

• Analysts give Hut 8 a consensus rating of "Moderate Buy" (18 analysts: 16 buys, 1 strong buy, 1 sell) with an average 12‑month price target of $73.00.
• The stock was trading around $70.92 with a market cap of $7.86 billion, a high beta (4.38) and a 1‑year range of $10.61–$74.65, signaling substantial volatility.
• Insider selling: the CFO and another insider sold shares on March 10 at about $49.05, trimming their holdings (insiders own 11.20%); institutional ownership stands near 31.75%.

Hut 8 Corp. (NASDAQ:HUT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the eighteen analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $73.00.

Several equities analysts have recently weighed in on the company. Roth Mkm restated a "buy" rating and issued a $80.00 target price on shares of Hut 8 in a research report on Tuesday, January 27th. Keefe, Bruyette & Woods raised their target price on Hut 8 from $55.00 to $75.00 and gave the company a "moderate buy" rating in a research report on Tuesday, January 27th. HC Wainwright restated a "buy" rating and issued a $80.00 target price on shares of Hut 8 in a research report on Thursday, February 26th. Canaccord Genuity Group raised their target price on Hut 8 from $62.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Finally, Arete Research initiated coverage on shares of Hut 8 in a research note on Monday, March 23rd. They issued a "buy" rating and a $136.00 target price on the stock.

Hut 8 Stock Performance

NASDAQ HUT opened at $70.92 on Friday. The company has a market cap of $7.86 billion, a PE ratio of -30.57 and a beta of 4.38. The stock's 50 day simple moving average is $53.74 and its 200-day simple moving average is $49.76. Hut 8 has a 1-year low of $10.61 and a 1-year high of $74.65. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.09 and a quick ratio of 1.09.

Insider Buying and Selling

In other news, CFO Sean Joseph Glennan sold 4,625 shares of the company'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 value of $226,856.25. Following the completion of the sale, the chief financial officer directly owned 12,068 shares in the company, valued at $591,935.40. This represents a 27.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Victor Semah sold 5,498 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $269,676.90. Following the completion of the sale, the insider owned 24,796 shares of the company's stock, valued at $1,216,243.80. This trade represents a 18.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 11.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hut 8

Large investors have recently made changes to their positions in the stock. Harvest Portfolios Group Inc. grew its position in shares of Hut 8 by 75.3% in the third quarter. Harvest Portfolios Group Inc. now owns 85,093 shares of the company's stock valued at $2,962,000 after purchasing an additional 36,543 shares in the last quarter. Paradiem LLC purchased a new stake in shares of Hut 8 in the third quarter valued at approximately $1,652,000. Steadview Capital Management LLC purchased a new stake in shares of Hut 8 in the third quarter valued at approximately $985,000. Y Intercept Hong Kong Ltd grew its position in shares of Hut 8 by 26.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 131,110 shares of the company's stock valued at $4,564,000 after purchasing an additional 27,568 shares in the last quarter. Finally, Tactive Advisors LLC grew its position in Hut 8 by 42.6% in the third quarter. Tactive Advisors LLC now owns 93,958 shares of the company's stock worth $3,271,000 after acquiring an additional 28,082 shares during the period. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

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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