Should I buy or sell Hut 8 stock right now?

5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Hut 8 in the last year. There are currently 1 sell rating, 1 hold rating and 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" HUT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in HUT, but not buy additional shares or sell existing shares. View HUT analyst ratings or view top-rated stocks .

What is Hut 8's stock price target for 2024?

5 brokers have issued twelve-month target prices for Hut 8's stock. Their HUT share price targets range from $9.00 to $15.00. On average, they expect the company's stock price to reach $12.40 in the next year. This suggests a possible upside of 57.4% from the stock's current price. View analysts price targets for HUT or view top-rated stocks among Wall Street analysts .

How have HUT shares performed in 2024?

Hut 8's stock was trading at $13.34 on January 1st, 2024. Since then, HUT shares have decreased by 40.9% and is now trading at $7.88. View the best growth stocks for 2024 here .

When is Hut 8's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, May 9th 2024. View our HUT earnings forecast .

How were Hut 8's earnings last quarter?

Hut 8 Corp. (NASDAQ:HUT) posted its quarterly earnings data on Monday, August, 14th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by $0.01. The firm had revenue of $14.28 million for the quarter, compared to the consensus estimate of $15.98 million. Hut 8 had a negative trailing twelve-month return on equity of 24.58% and a negative net margin of 184.31%. During the same period in the previous year, the business earned ($0.12) EPS.

What ETFs hold Hut 8's stock?

ETFs with the largest weight of Hut 8 (NASDAQ:HUT) stock in their portfolio include VanEck Digital Transformation ETF (DAPP) , iShares Blockchain and Tech ETF (IBLC) , Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC) , Valkyrie Bitcoin Miners ETF (WGMI) , Invesco Alerian Galaxy Crypto Economy ETF (SATO) , Bitwise Crypto Industry Innovators ETF (BITQ) , Global X Blockchain ETF (BKCH) and Amplify Transformational Data Sharing ETF (BLOK) .

Who are Hut 8's major shareholders?

Hut 8's stock is owned by a variety of retail and institutional investors. Top institutional investors include Westend Capital Management LLC (0.53%). Insiders that own company stock include Aniss Amdiss, Jaime Leverton and Shenif Visram.

How do I buy shares of Hut 8?

Shares of HUT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services. Compare Top Brokerages Here .

NASDAQ:HUT

Hut 8 (HUT) Stock Price, News & Analysis

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$7.88

+0.44 (+5.91%)

(As of 04/18/2024 ET)

Compare

Today's Range: $7.38
▼
$8.14
50-Day Range: $7.08
▼
$11.04
52-Week Range: $6.18
▼
$22.75

Volume: 2.26 million shs
Average Volume: 5.25 million shs
Market Capitalization: $703.19 million

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $12.40

Get Hut 8 alerts:

Hut 8 MarketRank™ Stock Analysis

Analyst Rating: Hold
2.40 Rating Score
Upside/Downside: 57.4% Upside
$12.40 Price Target
Short Interest: Healthy
10.33% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.48
Based on 7 Articles This Week
Insider Trading: N/A
Proj. Earnings Growth: Decreasing
From ($0.05) to ($1.18) Per Share

Overall MarketRank^™

New Rank-Based ScoringMarketRank^™ is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

1.17 out of 5 stars

Finance Sector

733rd out of 822 stocks

Nondepository Credit Institutions Industry

34th out of 43 stocks

3.2

Analyst's Opinion

Consensus Rating
Hut 8 has received a consensus rating of Hold. The company's average rating score is 2.40, and is based on 3 buy ratings, 1 hold rating, and 1 sell rating.
Amount of Analyst Coverage
Hut 8 has only been the subject of 4 research reports in the past 90 days.

3.0

Short Interest

Percentage of Shares Shorted
10.33% of the float of Hut 8 has been sold short.
Short Interest Ratio / Days to Cover
Hut 8 has a short interest ratio ("days to cover") of 1.7, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in Hut 8 has recently decreased by 4.18%, indicating that investor sentiment is improving.

0.0

Dividend Strength

Dividend Yield
Hut 8 does not currently pay a dividend.
Dividend Growth
Hut 8 does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for HUT.

3.0

News and Social Media Coverage

News Sentiment
Hut 8 has a news sentiment score of 0.48. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This news sentiment score is similar to the average news sentiment of Finance companies.
News Coverage This Week
MarketBeat has tracked 7 news articles for Hut 8 this week, compared to 5 articles on an average week.
Search Interest
36 people have searched for HUT on MarketBeat in the last 30 days. This is an increase of 71% compared to the previous 30 days.
MarketBeat Follows
18 people have added Hut 8 to their MarketBeat watchlist in the last 30 days. This is an increase of 38% compared to the previous 30 days.

0.0

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, Hut 8 insiders have not sold or bought any company stock.
Percentage Held by Institutions
Only 31.75% of the stock of Hut 8 is held by institutions.

0.0

Earnings and Valuation

Earnings Growth
Earnings for Hut 8 are expected to decrease in the coming year, from ($0.05) to ($1.18) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of Hut 8 is -2.87, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of Hut 8 is -2.87, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
Hut 8 has a P/B Ratio of 1.29. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

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About Hut 8 Stock (NASDAQ:HUT)

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. The company mines Bitcoin. It also offers managed services for energy infrastructure development, such as site design, procurement, and construction management; software automation, process design, personnel hiring, and team training; utilities contracts, hosting operations, and customer management; energy portfolio optimization and strategic initiatives; and finance, accounting, and safety services for digital asset mining site owners, governments, and data center developers. In addition, the company provides colocation, cloud, and connectivity services; hosting services, which include the provision of mining equipment and space, as well as monitors, troubleshoots, repairs, and maintains customer mining equipment; and equipment sales and repair services. Hut 8 Corp. was founded in 2017 and is based in Miami, Florida.

HUT Stock Price History

30 days | 90 days | 365 days | Advanced Chart

HUT Stock News Headlines

April 17, 2024 | investorplace.com

Bitcoin Halving Playbook: 3 Mining Stocks to Buy for Crypto Profits

April 17, 2024 | financialpost.com

Canadian Investor Alert: SMK Law Announces Investigation into Hut 8 Corp. (TSX: HUT.TO, NASDAQ: HUT)

April 18, 2024 | Priority Gold (Ad)

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April 17, 2024 | businesswire.com

Canadian Investor Alert: SMK Law Announces Investigation into Hut 8 Corp. (TSX: HUT.TO, NASDAQ: HUT)

April 16, 2024 | globenewswire.com

Hut 8 optimizes self-mining operations as miners come online at Salt Creek

April 16, 2024 | globenewswire.com

Hut 8 optimizes self-mining operations as miners come online at Salt Creek

April 8, 2024 | markets.businessinsider.com

24 HOUR DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Hut 8

April 8, 2024 | prnewswire.com

Shareholders that lost money on Hut 8 Corp.(HUT) Urged to Join Class Action - Contact Levi & Korsinsky to Learn More

April 18, 2024 | Priority Gold (Ad)

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April 7, 2024 | markets.businessinsider.com

DEADLINE REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Hut 8

April 5, 2024 | globenewswire.com

Hut 8 Operations Update for March 2024

April 5, 2024 | globenewswire.com

Hut 8 Operations Update for March 2024

April 5, 2024 | prnewswire.com

Hut 8 Corp. Class Action: The Gross Law Firm Reminds Hut 8 Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of April 8, 2024 - HUT

April 4, 2024 | prnewswire.com

HUT IMPORTANT DEADLINE: ROSEN, LEADING INVESTOR COUNSEL, Encourages Hut 8 Corp. Investors to Secure Counsel Before Important April 8 Deadline in Securities Class Action - HUT

April 4, 2024 | prnewswire.com

SHAREHOLDER ACTION REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Hut 8

April 2, 2024 | prnewswire.com

Investors who lost money on Hut 8 Corp.(HUT) should contact The Gross Law Firm about pending Class Action - HUT

April 1, 2024 | prnewswire.com

Levi & Korsinsky Reminds Hut 8 Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of April 8, 2024 - HUT

March 30, 2024 | news.yahoo.com

BOGO Whoppers, MoonPies, Total Eclipse of the Hut: These are the best food deals for the 2024 solar eclipse

March 29, 2024 | prnewswire.com

HUT 8 SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Hut 8 Corp. - HUT

March 29, 2024 | msn.com

What could come next in Turkey Leg Hut bankruptcy filing? We asked a law professor.

March 29, 2024 | msn.com

Why Shares of Hut Stock Are Climbing This Week

March 29, 2024 | prnewswire.com

SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Hut 8

March 29, 2024 | prnewswire.com

Hut 8 Corp. Sued for Securities Law Violations - Investors Should Contact The Gross Law Firm for More Information - HUT

March 28, 2024 | stockhouse.com

Hut 8 Corp. (HUT) Deadline Approaching: Berger Montague Advises Investors of Deadline in Securities Fraud Lawsuit

March 28, 2024 | msn.com

HUT Earnings: Hut 8 Soars on Impressive Six-Month Numbers

March 28, 2024 | marketwatch.com

Toronto Stocks Rise as Canadian GDP Growth Tops Views in January; Hut 8 Rises on 1H Profit, Revenue

March 28, 2024 | msn.com

Hut 8 Stock Climbed After Its Results, What's Going On?

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Company Calendar

Last Earnings: 8/14/2023
Today: 4/18/2024
Next Earnings (Estimated): 5/09/2024
Fiscal Year End: 12/31/2024

Get Stock Alerts

Industry, Sector and Symbol

Stock Exchange: NASDAQ
Sector: Finance
Industry: Nondepository credit institutions
Sub-Industry: N/A
Current Symbol: NASDAQ:HUT
CUSIP: N/A
CIK: 1731805
Web: hut8mining.com
Phone: (647) 256-1992
Fax: N/A
Employees: 219
Year Founded: N/A

Price Target and Rating

Average Stock Price Target: $12.40
High Stock Price Target: $15.00
Low Stock Price Target: $9.00
Potential Upside/Downside: +57.4%
Consensus Rating: Hold
Rating Score (0-4): 2.40
Research Coverage: 5 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($2.75)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-186,770,000.00
Net Margins: -184.31%
Pretax Margin: -333.61%
Return on Equity: -24.58%
Return on Assets: -20.69%

Debt

Debt-to-Equity Ratio: 0.04
Current Ratio: 4.61
Quick Ratio: 4.61

Sales & Book Value

Annual Sales: $73.90 million
Price / Sales: 9.52
Cash Flow: $0.03 per share
Price / Cash Flow: 267.24
Book Value: $6.13 per share
Price / Book: 1.29

Miscellaneous

Outstanding Shares: 89,237,000
Free Float: N/A
Market Cap: $703.19 million
Optionable: Optionable
Beta: 3.91

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Key Executives

Mr. Asher Kevin Genoot (Age 28)
Co-Founder, CEO, President & Director
Comp: $250k
Mr. Michael Ho (Age 30)
Co- Founder, Chief Strategy Officer & Director
Comp: $250k
Mr. Shenif Visram C.M.A. (Age 51)
CPA, Chief Financial Officer
Mr. James Beer
Senior Vice President of Operations
Ms. Erin Dermer
Senior Vice President of Communications & Culture
Ms. Suzanne Ennis
Vice President of Corporate Development

Key Competitors

View All Competitors

Institutional Ownership

View All Institutional Transactions

HUT Stock Analysis - Frequently Asked Questions

Should I buy or sell Hut 8 stock right now?: 5 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Hut 8 in the last year. There are currently 1 sell rating, 1 hold rating and 3 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" HUT shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in HUT, but not buy additional shares or sell existing shares.
View HUT analyst ratings or view top-rated stocks.
What is Hut 8's stock price target for 2024?: 5 brokers have issued twelve-month target prices for Hut 8's stock. Their HUT share price targets range from $9.00 to $15.00. On average, they expect the company's stock price to reach $12.40 in the next year. This suggests a possible upside of 57.4% from the stock's current price.
View analysts price targets for HUT or view top-rated stocks among Wall Street analysts.
How have HUT shares performed in 2024?: Hut 8's stock was trading at $13.34 on January 1st, 2024. Since then, HUT shares have decreased by 40.9% and is now trading at $7.88.
View the best growth stocks for 2024 here.
When is Hut 8's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Thursday, May 9th 2024.
View our HUT earnings forecast.

How were Hut 8's earnings last quarter?: Hut 8 Corp. (NASDAQ:HUT) posted its quarterly earnings data on Monday, August, 14th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by $0.01. The firm had revenue of $14.28 million for the quarter, compared to the consensus estimate of $15.98 million. Hut 8 had a negative trailing twelve-month return on equity of 24.58% and a negative net margin of 184.31%. During the same period in the previous year, the business earned ($0.12) EPS.
What ETFs hold Hut 8's stock?: ETFs with the largest weight of Hut 8 (NASDAQ:HUT) stock in their portfolio include VanEck Digital Transformation ETF (DAPP), iShares Blockchain and Tech ETF (IBLC), Invesco Alerian Galaxy Blockchain Users and Decentralized Commerce ETF (BLKC), Valkyrie Bitcoin Miners ETF (WGMI), Invesco Alerian Galaxy Crypto Economy ETF (SATO), Bitwise Crypto Industry Innovators ETF (BITQ), Global X Blockchain ETF (BKCH) and Amplify Transformational Data Sharing ETF (BLOK).
Who are Hut 8's major shareholders?: Hut 8's stock is owned by a variety of retail and institutional investors. Top institutional investors include Westend Capital Management LLC (0.53%). Insiders that own company stock include Aniss Amdiss, Jaime Leverton and Shenif Visram.
How do I buy shares of Hut 8?: Shares of HUT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

This page (NASDAQ:HUT) was last updated on 4/18/2024 by MarketBeat.com Staff

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Hut 8 (HUT) Stock Price, News & Analysis

Hut 8 MarketRank™ Stock Analysis

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About Hut 8 Stock (NASDAQ:HUT)

HUT Stock Price History

HUT Stock News Headlines

Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Key Executives

Key Competitors

Institutional Ownership

HUT Stock Analysis - Frequently Asked Questions

Overall MarketRank^™