Maxim Group Predicts Hut 8's Q3 Earnings (NASDAQ:HUT)

Key Points

• Maxim Group expects Hut 8 to report a Q3 2026 loss of $1.62 per share and maintains a “Strong Buy” rating. The firm also forecasts continued losses through 2028.
• Hut 8’s latest quarter missed expectations, with a $1.27 per-share loss versus the anticipated $0.55 loss and revenue of $72.66 million versus the $79.37 million consensus.
• Despite the earnings weakness, analysts remain broadly bullish, with a consensus “Buy” rating and average price target of $139.15, supported by the company’s planned pivot toward AI data-center infrastructure.

Hut 8 Corp. (NASDAQ:HUT - Free Report) - Investment analysts at Maxim Group issued their Q3 2026 earnings per share estimates for Hut 8 in a research note issued on Wednesday, August 5th. Maxim Group analyst A. Klee anticipates that the company will earn ($1.62) per share for the quarter. Maxim Group has a "Strong-Buy" rating on the stock. The consensus estimate for Hut 8's current full-year earnings is ($2.16) per share. Maxim Group also issued estimates for Hut 8's Q4 2026 earnings at ($1.53) EPS, Q1 2027 earnings at ($1.58) EPS, Q2 2027 earnings at ($2.95) EPS, Q3 2027 earnings at ($5.63) EPS, Q4 2027 earnings at ($4.98) EPS, FY2027 earnings at ($15.13) EPS, Q1 2028 earnings at ($4.74) EPS, Q2 2028 earnings at ($8.33) EPS and FY2028 earnings at ($28.33) EPS.

Several other equities research analysts have also recently issued reports on HUT. Citigroup reissued an "outperform" rating on shares of Hut 8 in a research report on Tuesday, April 28th. Jefferies Financial Group started coverage on shares of Hut 8 in a research note on Thursday, May 14th. They set a "buy" rating and a $156.00 price target on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $124.00 price target on shares of Hut 8 in a report on Wednesday. B. Riley Financial boosted their price objective on shares of Hut 8 from $130.00 to $163.00 and gave the company a "buy" rating in a research note on Monday. Finally, Wall Street Zen downgraded Hut 8 from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $139.15.

Hut 8 Trading Down 2.3%

NASDAQ HUT opened at $90.65 on Friday. The company has a market cap of $11.17 billion, a P/E ratio of -16.63 and a beta of 4.64. Hut 8 has a 12 month low of $18.68 and a 12 month high of $140.80. The company has a debt-to-equity ratio of 4.22, a current ratio of 19.35 and a quick ratio of 0.86. The company has a 50-day moving average of $110.57 and a 200-day moving average of $82.09.

Hut 8 (NASDAQ:HUT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.72). The business had revenue of $72.66 million during the quarter, compared to analyst estimates of $79.37 million. Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%.During the same period in the previous year, the business posted $1.18 earnings per share.

Insider Buying and Selling at Hut 8

In other Hut 8 news, Director Amy Marie Wilkinson sold 20,000 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $100.78, for a total value of $2,015,600.00. Following the transaction, the director directly owned 262,136 shares of the company's stock, valued at $26,418,066.08. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Victor Semah sold 10,000 shares of the business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. Following the transaction, the insider owned 31,378 shares in the company, valued at approximately $3,922,250. This represents a 24.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 102,206 shares of company stock worth $11,376,242. Insiders own 10.40% of the company's stock.

Institutional Investors Weigh In On Hut 8

A number of large investors have recently modified their holdings of the stock. Arlington Trust Co LLC lifted its position in Hut 8 by 175.0% during the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company's stock worth $32,000 after acquiring an additional 175 shares in the last quarter. Imprint Wealth LLC purchased a new position in Hut 8 in the 4th quarter worth approximately $38,000. Russell Investments Group Ltd. grew its position in Hut 8 by 235.8% in the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company's stock valued at $46,000 after acquiring an additional 1,719 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in Hut 8 in the first quarter valued at approximately $47,000. Finally, Activest Wealth Management purchased a new stake in shares of Hut 8 during the fourth quarter valued at approximately $49,000. Institutional investors and hedge funds own 31.75% of the company's stock.

Hut 8 News Roundup

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

• Positive Sentiment: Analyst upgrades and bullish targets: Maxim Group upgraded Hut 8 to “strong buy.” Keefe, Bruyette & Woods maintained an “outperform” rating and set a $154 price target, despite trimming it from $157. These targets imply substantial potential upside if the AI infrastructure strategy succeeds. Benzinga analyst rating report
• Positive Sentiment: AI infrastructure pivot is attracting investor interest: Hut 8 is repositioning itself as a power-focused AI data-center platform, seeking longer-term contracted cash flows rather than relying primarily on bitcoin prices. The company has also outlined an 8.7-gigawatt development pipeline, while its Beacon Point lease is projected to have $9.8 billion of base-term value. Why Hut 8 Is Up After Pivoting Toward AI Data Center Infrastructure Hut 8 outlines 8.7 GW pipeline
• Positive Sentiment: Financing could support expansion: Hut 8 reportedly secured $7.5 billion in non-recourse, investment-grade project financing, potentially enabling large campus construction without equity dilution or additional parent-level debt. Adjusted EBITDA improved and gross margin expanded to 64%, according to one analysis. Hut 8 Q2 2026 analysis
• Neutral Sentiment: Options activity increased: Traders purchased a high volume of HUT call options, signaling speculative bullish positioning, though options activity does not necessarily indicate durable institutional confidence. Hut 8 call options activity
• Negative Sentiment: Earnings missed expectations: Hut 8 reported a quarterly loss of $1.27 per share versus the expected $0.55 loss, while revenue of $72.66 million fell short of the $79.37 million consensus. The company also posted a deeply negative net margin, with bitcoin mark-to-market volatility contributing to the weak GAAP results. The earnings disappointment has driven the recent decline and remains the main near-term risk. Hut 8 stock falls on disappointing earnings

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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