Northland Capmk Issues Optimistic Outlook for Hut 8 Earnings

Hut 8 Corp. (NASDAQ:HUT - Free Report) - Stock analysts at Northland Capmk raised their Q2 2026 earnings estimates for shares of Hut 8 in a note issued to investors on Friday, July 11th. Northland Capmk analyst M. Grondahl now anticipates that the company will post earnings per share of $0.04 for the quarter, up from their previous forecast of $0.03. Northland Capmk 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.

Several other brokerages also recently issued reports on HUT. Canaccord Genuity Group reissued a "buy" rating and set a $32.00 price objective on shares of Hut 8 in a research report on Monday, May 12th. Maxim Group began coverage on shares of Hut 8 in a research report on Thursday, May 1st. They set a "buy" rating and a $20.00 price objective on the stock. HC Wainwright reissued a "buy" rating and set a $25.00 price objective on shares of Hut 8 in a research report on Friday, May 9th. Benchmark lowered their price objective on shares of Hut 8 from $41.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group set a $33.00 price target on shares of Hut 8 in a research note on Wednesday, April 2nd. Fifteen equities research analysts have rated the stock with a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $26.12.

Hut 8 Price Performance

Hut 8 stock traded down $0.12 during midday trading on Monday, hitting $22.12. 4,182,373 shares of the company's stock were exchanged, compared to its average volume of 5,780,144. Hut 8 has a 12-month low of $8.73 and a 12-month high of $31.95. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.27. The firm's 50 day simple moving average is $18.07 and its 200 day simple moving average is $17.19.

Hut 8 (NASDAQ:HUT - Get Free Report) last issued its quarterly earnings data 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 positive return on equity of 13.00% and a negative net margin of 39.92%. The business had revenue of $20.88 million for the quarter, compared to analysts' expectations of $33.68 million.

Insider Transactions at Hut 8

In related news, Director Joseph Flinn sold 11,069 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $15.77, for a total transaction of $174,558.13. Following the sale, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Victor Semah sold 11,363 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $12.95, for a total transaction of $147,150.85. Following the sale, the insider directly owned 15,738 shares in the company, valued at approximately $203,807.10. This represents a 41.93% decrease in their position. The disclosure for this sale can be found here. 11.20% of the stock is currently owned by insiders.

Institutional Trading of Hut 8

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Hut 8 by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 6,459,385 shares of the company's stock valued at $132,352,000 after purchasing an additional 245,113 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Hut 8 by 4.1% in the fourth 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 in the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Hut 8 in the fourth quarter valued at about $1,180,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Hut 8 in the fourth quarter valued at about $37,400,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Hut 8 by 23.1% in the fourth quarter. JPMorgan Chase & Co. now owns 322,927 shares of the company's stock valued at $6,617,000 after purchasing an additional 60,542 shares in the last quarter. Hedge funds and other institutional investors 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.