Analysts Set Hut 8 Corp. (NASDAQ:HUT) Price Target at $133.10

Hut 8 Corp. (NASDAQ:HUT) has earned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and eighteen have given a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $137.20.

HUT has been the topic of several research analyst reports. Morgan Stanley began coverage on shares of Hut 8 in a research note on Thursday, July 23rd. They set an “overweight” rating and a $263.00 target price on the stock. Piper Sandler boosted their price target on Hut 8 from $93.00 to $127.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Jefferies Financial Group started coverage on shares of Hut 8 in a research report on Thursday, May 14th. They issued a “buy” rating and a $156.00 price target for the company. Keefe, Bruyette & Woods increased their target price on Hut 8 from $138.00 to $157.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Canaccord Genuity Group raised their target price on shares of Hut 8 from $70.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, May 7th.

Insider Buying and Selling at Hut 8

In related news, insider Victor Semah sold 10,000 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the sale, the insider owned 31,378 shares in the company, valued at approximately $3,922,250. This represents a 24.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Amy Marie Wilkinson sold 20,000 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the completion of the sale, the director directly owned 262,136 shares in the company, valued at approximately $26,418,066.08. This represents a 7.09% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 112,724 shares of company stock worth $12,184,340. Company insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Hut 8

A number of institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC lifted its position in shares of Hut 8 by 11.9% during the first quarter. Millennium Management LLC now owns 330,416 shares of the company’s stock worth $3,839,000 after purchasing an additional 35,120 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Hut 8 in the 2nd quarter worth approximately $216,000. Russell Investments Group Ltd. boosted its position 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 acquiring an additional 1,719 shares in the last quarter. New York State Common Retirement Fund boosted its position in Hut 8 by 19.9% during the second quarter. New York State Common Retirement Fund now owns 32,540 shares of the company’s stock valued at $605,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Hut 8 by 13.2% in the 2nd quarter. Invesco Ltd. now owns 1,067,985 shares of the company’s stock worth $19,865,000 after buying an additional 124,439 shares during the last quarter. 31.75% of the stock is owned by institutional investors.

Hut 8 Stock Performance

Shares of HUT stock opened at $108.27 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market capitalization of $12.19 billion, a price-to-earnings ratio of -36.09 and a beta of 4.62. Hut 8 has a one year low of $18.68 and a one year high of $140.80. The company’s 50-day moving average is $111.81 and its 200 day moving average is $80.64.

Hut 8 (NASDAQ:HUT) last posted its quarterly 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 firm had revenue of $139.31 million for the quarter, compared to analysts’ expectations of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. Sell-side analysts expect that Hut 8 will post -2.52 EPS for the current fiscal year.

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.