Northland Securities Has Weak Forecast for Hut 8 Q2 Earnings

Key Points

• Northland Securities lowered its Q2 2026 EPS forecast for Hut 8 to a loss of $0.25 per share from $0.21, and also projected losses of $0.21 in Q3 and $0.16 in Q4.
• Hut 8’s latest quarterly results were mixed: it reported a much larger-than-expected loss of $1.98 per share, but revenue came in well above estimates at $139.31 million versus $78.53 million expected.
• Analyst sentiment remains broadly bullish, with 16 Buy ratings and only one Sell rating, even as insiders have recently sold shares and the stock has shown high volatility.

Hut 8 Corp. (NASDAQ:HUT - Free Report) - Equities research analysts at Northland Securities decreased their Q2 2026 EPS estimates for Hut 8 in a research note issued on Wednesday, May 6th. Northland Securities analyst M. Grondahl now expects that the company will post earnings per share of ($0.25) for the quarter, down from their prior estimate of ($0.21). The consensus estimate for Hut 8's current full-year earnings is ($1.27) per share. Northland Securities also issued estimates for Hut 8's Q3 2026 earnings at ($0.21) EPS and Q4 2026 earnings at ($0.16) EPS.

Hut 8 (NASDAQ:HUT - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.33) by ($1.65). Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. The business had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million.

A number of other research analysts have also weighed in on HUT. BTIG Research raised their price objective on shares of Hut 8 from $90.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Arete Research assumed coverage on shares of Hut 8 in a research report on Monday, March 23rd. They set a "buy" rating and a $136.00 price target on the stock. Canaccord Genuity Group raised their price target on shares of Hut 8 from $70.00 to $130.00 and gave the company a "buy" rating in a research report on Thursday. Rosenblatt Securities raised their price target on shares of Hut 8 from $89.00 to $124.00 and gave the company a "buy" rating in a research report on Friday. Finally, Roth Mkm reissued a "buy" rating and set a $80.00 price target on shares of Hut 8 in a research report on Tuesday, January 27th. Sixteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $99.94.

Hut 8 Price Performance

Hut 8 stock opened at $98.46 on Monday. Hut 8 has a 1-year low of $13.48 and a 1-year high of $111.33. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of -32.82 and a beta of 4.48. The firm's fifty day moving average price is $60.68 and its two-hundred day moving average price is $53.27. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12.

Institutional Trading of Hut 8

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new stake in Hut 8 in the fourth quarter worth about $30,000. Imprint Wealth LLC bought a new stake in Hut 8 in the fourth quarter worth about $38,000. Harbor Investment Advisory LLC bought a new stake in Hut 8 in the first quarter worth about $47,000. Activest Wealth Management bought a new stake in Hut 8 in the fourth quarter worth about $49,000. Finally, Danske Bank A S bought a new stake in Hut 8 in the fourth quarter worth about $51,000. Institutional investors own 31.75% of the company's stock.

Insider Transactions at Hut 8

In other Hut 8 news, insider Victor Semah sold 10,518 shares of Hut 8 stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $76.83, for a total value of $808,097.94. Following the sale, the insider owned 41,378 shares of the company's stock, valued at approximately $3,179,071.74. The trade was a 20.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Joseph Glennan sold 4,625 shares of Hut 8 stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the completion of the sale, the chief financial officer directly owned 12,068 shares in the company, valued at approximately $591,935.40. This represents a 27.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 20,641 shares of company stock worth $1,304,631 over the last three months. 10.40% of the stock is owned by insiders.

More Hut 8 News

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

• Positive Sentiment: Hut 8 signed a major Texas data center lease, including a reported $9.8 billion campus agreement and a separate 352MW lease with an investment-grade tenant, underscoring strong demand for its AI infrastructure strategy. Hut 8 signs 352MW data center lease in Texas with investment grade tenant
• Positive Sentiment: Canaccord Genuity, Rosenblatt, Citizens JMP, Needham, and Piper Sandler all raised price targets and kept bullish ratings, signaling growing confidence in Hut 8’s transition from crypto mining to AI data infrastructure. Analyst price target updates
• Positive Sentiment: Management highlighted accelerating demand and defended the company’s crypto-to-AI power story, which may be helping support investor sentiment after recent skepticism. Hut 8 CEO: Investor skepticism on crypto to AI power story is over
• Positive Sentiment: Recent earnings-related coverage noted revenue more than tripled year over year, helping explain the stock’s strong upward momentum and renewed enthusiasm around execution. Hut 8 revenues more-than-triple, shares hit all-time high
• Neutral Sentiment: Hut 8 also outlined its capital intensity for AI buildouts and targeted initial data hall delivery in Q2 2027, which shows a long runway but also reminds investors the expansion will take time. Hut 8 outlines capex and delivery timeline
• Negative Sentiment: Some traders took profits after the stock’s sharp prior-day surge, with coverage noting the shares were lower following a very large move higher earlier in the week. Why Is Hut 8 Stock Falling On Thursday?

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.

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