Hut 8 Corp. (NASDAQ:HUT) Receives $65.56 Consensus PT from Brokerages

Shares of Hut 8 Corp. (NASDAQ:HUT) have earned an average rating of “Moderate Buy” from the eighteen brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, sixteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $69.7059.

Several analysts recently weighed in on the company. Craig Hallum restated a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research note on Thursday, December 18th. Rosenblatt Securities reiterated a “buy” rating and set a $65.00 price objective on shares of Hut 8 in a research note on Thursday, February 26th. BTIG Research reissued a “buy” rating and issued a $55.00 target price on shares of Hut 8 in a report on Wednesday, December 17th. Arete Research started coverage on Hut 8 in a research note on Monday, March 23rd. They issued a “buy” rating and a $136.00 target price on the stock. Finally, HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Hut 8 in a report on Thursday, February 26th.

Insider Transactions at Hut 8

In other Hut 8 news, CFO Sean Joseph Glennan sold 4,625 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were 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 trade represents a 27.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victor Semah sold 5,498 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 $269,676.90. Following the completion of the transaction, the insider directly owned 24,796 shares of the company’s stock, valued at $1,216,243.80. This trade represents a 18.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 11.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hut 8

A number of hedge funds have recently added to or reduced their stakes in HUT. Advisors Asset Management Inc. boosted its stake in Hut 8 by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $30,000 after purchasing an additional 655 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Hut 8 in the fourth quarter worth $30,000. Imprint Wealth LLC purchased a new position in shares of Hut 8 in the fourth quarter worth $38,000. Russell Investments Group Ltd. lifted its holdings in shares of Hut 8 by 235.8% during the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock valued at $46,000 after purchasing an additional 1,719 shares in the last quarter. Finally, Activest Wealth Management purchased a new stake in shares of Hut 8 during the fourth quarter valued at $49,000. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Hut 8 Price Performance

Shares of HUT opened at $47.40 on Monday. Hut 8 has a fifty-two week low of $10.04 and a fifty-two week high of $66.07. The firm’s 50-day simple moving average is $53.63 and its two-hundred day simple moving average is $47.50. The stock has a market cap of $5.26 billion, a PE ratio of -20.43 and a beta of 4.42. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.09 and a current ratio of 1.09.

About Hut 8

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.