Hut 8 (NASDAQ:HUT) Stock Rating Upgraded by B. Riley

Hut 8 (NASDAQ:HUT - Get Free Report) was upgraded by research analysts at B. Riley to a "strong-buy" rating in a note issued to investors on Tuesday, May 13th, 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.

HUT has been the topic of a number of other reports. Benchmark dropped their price target on Hut 8 from $41.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. UBS Group set a $33.00 price objective on Hut 8 in a research note on Wednesday, April 2nd. Canaccord Genuity Group reissued a "buy" rating and issued a $32.00 target price on shares of Hut 8 in a research note on Monday, May 12th. HC Wainwright reaffirmed a "buy" rating and issued a $25.00 price target on shares of Hut 8 in a research report on Friday, May 9th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 price objective on shares of Hut 8 in a research report on Friday, March 7th. Thirteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Hut 8 presently has an average rating of "Buy" and an average price target of $25.93.

Hut 8 Trading Down 1.0%

Hut 8 stock traded down $0.18 on Tuesday, hitting $17.00. 4,448,326 shares of the stock traded hands, compared to its average volume of 5,695,457. Hut 8 has a 1 year low of $8.53 and a 1 year high of $31.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. The business's fifty day simple moving average is $12.90 and its 200 day simple moving average is $18.95.

Hut 8 (NASDAQ:HUT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company had revenue of $20.88 million for the quarter, compared to the consensus estimate of $33.68 million. Research analysts expect that Hut 8 will post -0.53 EPS for the current year.

Insider Buying and Selling at Hut 8

In other news, insider Victor Semah sold 11,363 shares of the company's stock in a transaction dated 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 owns 15,738 shares of the company's stock, valued at $203,807.10. This represents a 41.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 11.20% of the company's stock.

Institutional Trading of Hut 8

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Hut 8 by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 6,459,385 shares of the company's stock valued at $132,352,000 after acquiring an additional 245,113 shares during the period. ExodusPoint Capital Management LP bought a new position in shares of Hut 8 in the fourth quarter worth about $1,180,000. Jericho Capital Asset Management L.P. bought a new position in shares of Hut 8 in the fourth quarter worth about $37,400,000. JPMorgan Chase & Co. grew its position in shares of Hut 8 by 23.1% during the fourth quarter. JPMorgan Chase & Co. now owns 322,927 shares of the company's stock worth $6,617,000 after purchasing an additional 60,542 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Hut 8 by 4.1% during the 4th quarter. Northern Trust Corp now owns 717,575 shares of the company's stock valued at $14,703,000 after purchasing an additional 28,462 shares during the period. 31.75% of the stock is currently owned by institutional investors.

Hut 8 Company Profile

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.