Hut 8 Target of Unusually Large Options Trading (NASDAQ:HUT)

Key Points

• Hut 8 saw unusually heavy options activity on Monday, with traders buying 25,633 call options, about 30% above its average volume. This suggests elevated bullish speculation around the stock.
• Analyst sentiment remains largely positive, with several firms reiterating buy/outperform ratings and lifting price targets as high as $145. MarketBeat data shows a consensus rating of “Moderate Buy” and an average target price of $121.26.
• Insider selling and strong institutional interest both stood out: two directors recently sold shares, while several large investors significantly increased their stakes. The stock also jumped to $100.20 on Monday amid active trading.

Hut 8 Corp. (NASDAQ:HUT - Get Free Report) saw unusually large options trading activity on Monday. Traders purchased 25,633 call options on the company. This is an increase of approximately 30% compared to the average volume of 19,733 call options.

Analysts Set New Price Targets

Several research firms have recently commented on HUT. Needham & Company LLC restated a "buy" rating and issued a $145.00 price objective on shares of Hut 8 in a research note on Monday. Citigroup reissued an "outperform" rating on shares of Hut 8 in a report on Tuesday, April 28th. Canaccord Genuity Group upped their price target on Hut 8 from $70.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Compass Point set a $130.00 price objective on Hut 8 in a research note on Wednesday, May 13th. Finally, Weiss Ratings cut Hut 8 from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. Seventeen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Hut 8 has a consensus rating of "Moderate Buy" and a consensus target price of $121.26.

Insider Buying and Selling at Hut 8

In other news, Director Rick Rickertsen sold 17,491 shares of Hut 8 stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the transaction, the director owned 17,491 shares in the company, valued at $1,924,010. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Amy Marie Wilkinson sold 20,000 shares of Hut 8 stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the transaction, the director owned 262,136 shares in the company, valued at $26,418,066.08. This represents a 7.09% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 112,724 shares of company stock worth $12,184,340. 10.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HUT. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Hut 8 by 4,669,387.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company's stock worth $186,629,000 after purchasing an additional 4,062,367 shares during the period. Handelsbanken Fonder AB purchased a new position in Hut 8 during the fourth quarter worth $1,153,000. Steadview Capital Management LLC boosted its stake in Hut 8 by 1,425.3% during the fourth quarter. Steadview Capital Management LLC now owns 431,655 shares of the company's stock worth $19,830,000 after buying an additional 403,355 shares during the period. GeoSphere Capital Management LLC increased its position in Hut 8 by 64.3% during the fourth quarter. GeoSphere Capital Management LLC now owns 115,000 shares of the company's stock valued at $5,283,000 after acquiring an additional 45,000 shares during the last quarter. Finally, Thoroughbred Financial Services LLC bought a new position in Hut 8 during the fourth quarter valued at $741,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

Hut 8 Price Performance

Shares of HUT traded up $8.75 during trading hours on Monday, reaching $100.20. 4,611,189 shares of the stock traded hands, compared to its average volume of 4,800,525. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. Hut 8 has a 52-week low of $18.68 and a 52-week high of $140.80. The company's 50-day moving average price is $111.24 and its two-hundred day moving average price is $77.35. The company has a market cap of $11.28 billion, a P/E ratio of -33.49 and a beta of 4.62.

Hut 8 (NASDAQ:HUT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.33) by ($1.65). The business had revenue of $139.31 million during the quarter, compared to analysts' expectations of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. On average, analysts anticipate that Hut 8 will post -1.29 earnings per share for the current year.

Hut 8 News Summary

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Hut 8 fully commercialized its Beacon Point AI data center campus with a second 352 MW lease, bringing the campus-level base-term contract value to $19.6 billion and signaling strong demand for its AI infrastructure. PR Newswire article
• Positive Sentiment: The new lease boosts Hut 8’s contracted AI data center capacity and increases visibility into future cash flow, with total contracted AI data center capacity now rising to 949 MW. Reuters article
• Positive Sentiment: Investor sentiment was also lifted by the fact that the tenant is investment-grade and already committed to the first phase, reinforcing confidence in Hut 8’s AI data center strategy. Proactive Investors article
• Neutral Sentiment: Broader coverage noted Hut 8 rising alongside other AI infrastructure names such as IREN and Riot Platforms, suggesting a sympathy move across the sector. Barrons article

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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