Hut 8 Corp. (NASDAQ:HUT) Receives $99.94 Average Target Price from Brokerages

Hut 8 Corp. (NASDAQ:HUT) has been assigned an average rating of “Moderate Buy” from the eighteen analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and seventeen have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $107.7222.

A number of equities analysts have issued reports on the company. Needham & Company LLC increased their price objective on Hut 8 from $88.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Arete Research assumed coverage on Hut 8 in a report on Monday, March 23rd. They issued a “buy” rating and a $136.00 price objective for the company. Jefferies Financial Group assumed coverage on Hut 8 in a report on Thursday. They issued a “buy” rating and a $156.00 price objective for the company. Citigroup reiterated an “outperform” rating on shares of Hut 8 in a report on Tuesday, April 28th. Finally, Northland Securities set a $120.00 price objective on Hut 8 in a report on Thursday, May 7th.

Hut 8 Price Performance

Shares of Hut 8 stock opened at $96.20 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. The company has a market cap of $10.83 billion, a PE ratio of -32.07 and a beta of 4.48. The business has a 50 day moving average of $67.78 and a 200 day moving average of $56.08. Hut 8 has a 52 week low of $14.74 and a 52 week high of $112.26.

Hut 8 (NASDAQ:HUT) last announced its earnings results on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). The business had revenue of $139.31 million for the quarter, compared to the consensus estimate of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. As a group, equities research analysts forecast that Hut 8 will post -2.34 earnings per share for the current year.

Insider Activity

In other news, insider Victor Semah sold 10,518 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $76.83, for a total transaction of $808,097.94. Following the completion of the transaction, the insider directly owned 41,378 shares in the company, valued at $3,179,071.74. This trade represents a 20.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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, Director Rick Rickertsen sold 17,491 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total value of $1,924,010.00. Following the transaction, the director owned 17,491 shares of the company’s stock, valued at $1,924,010. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 54,628 shares of company stock worth $4,960,721 over the last three months. 10.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hut 8

Several institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its position in shares of Hut 8 by 1.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock valued at $734,000 after buying an additional 254 shares during the last quarter. CWM LLC boosted its position in Hut 8 by 37.4% in the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after purchasing an additional 301 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Hut 8 by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock worth $331,000 after purchasing an additional 321 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Hut 8 by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock worth $996,000 after purchasing an additional 362 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Hut 8 by 4.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company’s stock worth $413,000 after purchasing an additional 388 shares during the last quarter. 31.75% of the stock is owned by hedge funds and other institutional investors.

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.