Northland Capmk Has Positive Outlook for Hut 8 Q2 Earnings

Hut 8 Corp. (NASDAQ:HUT - Free Report) - Research analysts at Northland Capmk increased their Q2 2026 earnings per share estimates for shares of Hut 8 in a note issued to investors on Friday, July 11th. Northland Capmk analyst M. Grondahl now expects that the company will earn $0.04 per share for the quarter, up from their previous estimate of $0.03. Northland Capmk currently has a "Strong-Buy" rating on the stock. The consensus estimate for Hut 8's current full-year earnings is ($0.53) per share. Northland Capmk also issued estimates for Hut 8's Q3 2026 earnings at $0.07 EPS and FY2026 earnings at $0.19 EPS.

A number of other research firms have also weighed in on HUT. BTIG Research assumed coverage on shares of Hut 8 in a research note on Monday, April 14th. They issued a "buy" rating and a $18.00 target price on the stock. Maxim Group assumed coverage on shares of Hut 8 in a research report on Thursday, May 1st. They issued a "buy" rating and a $20.00 price target for the company. HC Wainwright reiterated a "buy" rating and issued a $25.00 target price on shares of Hut 8 in a research note on Friday, May 9th. Citizens Jmp upgraded shares of Hut 8 to a "strong-buy" rating and set a $25.00 price target for the company in a report on Thursday, May 22nd. Finally, UBS Group set a $33.00 price objective on shares of Hut 8 in a research report on Wednesday, April 2nd. Fifteen research analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $25.76.

Hut 8 Price Performance

NASDAQ:HUT opened at $21.83 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.27. Hut 8 has a 1-year low of $8.73 and a 1-year high of $31.95. The company has a 50 day moving average price of $17.36 and a 200-day moving average price of $17.12.

Hut 8 (NASDAQ:HUT - Get Free Report) last released its 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). Hut 8 had a negative net margin of 39.92% and a positive return on equity of 13.00%. The firm had revenue of $20.88 million during the quarter, compared to analyst estimates of $33.68 million.

Insider Transactions 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 transaction, the insider owned 15,738 shares in the company, valued at approximately $203,807.10. This represents a 41.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Flinn sold 11,069 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $15.77, for a total value of $174,558.13. Following the transaction, the director directly owned 19,791 shares of the company's stock, valued at approximately $312,104.07. The trade was a 35.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.20% of the stock is owned by corporate insiders.

Institutional Trading of Hut 8

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Hut 8 by 3.9% during the fourth 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 in the last quarter. Northern Trust Corp raised its stake in shares of Hut 8 by 4.1% in the 4th quarter. Northern Trust Corp now owns 717,575 shares of the company's stock valued at $14,703,000 after buying an additional 28,462 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of Hut 8 in the 4th quarter valued at approximately $1,180,000. Jericho Capital Asset Management L.P. bought a new position in Hut 8 during the 4th quarter valued at about $37,400,000. Finally, JPMorgan Chase & Co. grew its holdings 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 during the last quarter. Institutional investors and hedge funds own 31.75% of the company's stock.

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.

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