Hut 8 (NASDAQ:HUT) Trading Up 3% – Should You Buy?

Hut 8 Corp. (NASDAQ:HUT) was up 3% during mid-day trading on Monday . The stock traded as high as $88.12 and last traded at $88.04. Approximately 3,935,550 shares traded hands during trading, a decline of 18% from the average daily volume of 4,809,724 shares. The stock had previously closed at $85.44.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Compass Point set a $195.00 price target on Hut 8 in a research report on Wednesday, July 22nd. Northland Securities set a $120.00 price objective on Hut 8 in a research report on Thursday, May 7th. Citizens Jmp raised their price objective on Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a research note on Thursday, May 7th. Maxim Group upgraded Hut 8 to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, BTIG Research boosted their target price on Hut 8 from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $144.89.

Hut 8 Stock Down 8.2%

The company has a debt-to-equity ratio of 4.22, a quick ratio of 19.35 and a current ratio of 19.35. The company’s fifty day moving average price is $104.52 and its 200-day moving average price is $83.63. The stock has a market cap of $9.96 billion, a P/E ratio of -14.82 and a beta of 4.64.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.72). Hut 8 had a negative net margin of 188.59% and a negative return on equity of 0.97%. The firm had revenue of $72.66 million for the quarter, compared to the consensus estimate of $79.37 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. Equities analysts forecast that Hut 8 Corp. will post -2.85 EPS for the current year.

Insider Buying and Selling at Hut 8

In other news, Director Joseph Flinn sold 30,500 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the transaction, the director owned 18,238 shares of the company’s stock, valued at approximately $2,119,437.98. This represents a 62.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Victor Semah sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. Following the completion of the sale, the insider owned 31,378 shares in the company, valued at approximately $3,922,250. The trade was a 24.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 68,219 shares of company stock worth $7,720,152 over the last 90 days. Company insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Hut 8

Hedge funds have recently bought and sold shares of the business. Arlington Trust Co LLC boosted its stake in shares of Hut 8 by 175.0% during the second quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock valued at $32,000 after purchasing an additional 175 shares during the period. Imprint Wealth LLC purchased a new position in Hut 8 in the 4th quarter worth about $38,000. Russell Investments Group Ltd. lifted its holdings in Hut 8 by 235.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock valued at $46,000 after buying an additional 1,719 shares in the last quarter. Harbor Investment Advisory LLC purchased a new stake in Hut 8 in the 1st quarter valued at about $47,000. Finally, Activest Wealth Management bought a new position in Hut 8 in the 4th quarter worth about $49,000. Institutional investors own 31.75% of the company’s stock.

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.