Hut 8 (NASDAQ:HUT - Get Free Report) was upgraded by equities research analysts at B. Riley to a "strong-buy" rating in a note issued to investors on Tuesday, Marketbeat reports. B. Riley also issued estimates for Hut 8's Q2 2025 earnings at ($0.23) EPS, Q3 2025 earnings at ($0.18) EPS, Q4 2025 earnings at ($0.19) EPS, FY2025 earnings at ($0.78) EPS, Q1 2026 earnings at ($0.21) EPS, Q2 2026 earnings at ($0.19) EPS, Q3 2026 earnings at ($0.16) EPS, Q4 2026 earnings at ($0.12) EPS and FY2026 earnings at ($0.69) EPS.
A number of other research firms have also issued reports on HUT. Rosenblatt Securities began coverage on shares of Hut 8 in a report on Friday, March 7th. They set a "buy" rating and a $23.00 price target on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 price objective on shares of Hut 8 in a research report on Friday, March 7th. UBS Group set a $33.00 price objective on shares of Hut 8 in a research report on Wednesday, April 2nd. Northland Securities initiated coverage on shares of Hut 8 in a research report on Monday, April 21st. They set an "outperform" rating and a $20.00 price objective on the stock. Finally, BTIG Research initiated coverage on shares of Hut 8 in a research report on Monday, April 14th. They set a "buy" rating and a $18.00 price objective on the stock. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $25.93.
Read Our Latest Analysis on Hut 8
Hut 8 Stock Up 9.9%
Shares of HUT stock traded up $1.55 during trading hours on Tuesday, reaching $17.13. 10,986,080 shares of the stock traded hands, compared to its average volume of 5,693,227. Hut 8 has a 1-year low of $8.53 and a 1-year high of $31.95. The business has a fifty day moving average price of $12.80 and a 200 day moving average price of $18.92. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35.
Hut 8 (NASDAQ:HUT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The firm had revenue of $20.88 million for the quarter, compared to analyst estimates of $33.68 million. As a group, equities research analysts predict that Hut 8 will post -0.53 earnings per share for the current year.
Insiders Place Their Bets
In related news, insider Victor Semah sold 11,363 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $12.95, for a total transaction of $147,150.85. Following the completion of the sale, the insider now directly owns 15,738 shares of the company's stock, valued at approximately $203,807.10. This represents a 41.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.20% of the company's stock.
Institutional Trading of Hut 8
Several large investors have recently modified their holdings of HUT. Jericho Capital Asset Management L.P. bought a new stake in shares of Hut 8 during the 4th quarter worth $37,400,000. D. E. Shaw & Co. Inc. bought a new stake in shares of Hut 8 during the 4th quarter worth $27,115,000. Voloridge Investment Management LLC bought a new stake in Hut 8 in the 4th quarter valued at $24,170,000. Arrowstreet Capital Limited Partnership bought a new stake in Hut 8 in the 4th quarter valued at $23,009,000. Finally, Invesco Ltd. boosted its holdings in Hut 8 by 1,408.8% in the 4th quarter. Invesco Ltd. now owns 936,650 shares of the company's stock valued at $19,192,000 after purchasing an additional 874,572 shares during the period. 31.75% of the stock is owned by institutional investors.
Hut 8 Company Profile
(
Get Free Report)
Hut 8 Corp., together with its subsidiaries, acquires, builds, manages, and operates data centers for digital assets mining, computing, and artificial intelligence in the United States. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other.
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