Hut 8 (NASDAQ:HUT) Trading Up 3% – Time to Buy?

Shares of Hut 8 Corp. (NASDAQ:HUT) traded up 3% during mid-day trading on Friday . The stock traded as high as $88.06 and last traded at $85.44. 5,426,866 shares changed hands during trading, an increase of 13% from the average session volume of 4,810,668 shares. The stock had previously closed at $82.95.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HUT shares. BTIG Research lifted their price target on shares of Hut 8 from $115.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Rosenblatt Securities restated a “buy” rating and issued a $124.00 price target on shares of Hut 8 in a report on Wednesday, August 5th. Loop Capital set a $226.00 target price on Hut 8 in a research note on Monday, June 22nd. Compass Point set a $195.00 price target on shares of Hut 8 in a research report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods lowered their price objective on Hut 8 from $157.00 to $154.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Hut 8 presently has an average rating of “Buy” and an average price target of $144.89.

Hut 8 Stock Up 3.0%

The firm’s 50 day simple moving average is $105.78 and its 200 day simple moving average is $83.14. The company has a quick ratio of 19.35, a current ratio of 19.35 and a debt-to-equity ratio of 4.22. The company has a market cap of $10.53 billion, a price-to-earnings ratio of -15.68 and a beta of 4.64.

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

Insider Buying and Selling at Hut 8

In other Hut 8 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 completion of the transaction, the insider directly owned 31,378 shares of the company’s stock, valued at approximately $3,922,250. This trade represents a 24.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy Marie Wilkinson sold 20,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $100.78, for a total value of $2,015,600.00. Following the transaction, the director directly owned 262,136 shares of the company’s stock, valued at $26,418,066.08. This represents a 7.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 68,219 shares of company stock valued at $7,720,152. 10.40% of the stock is owned by corporate insiders.

Institutional Trading of Hut 8

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Hut 8 during the second quarter valued at approximately $1,093,294,000. Vanguard Group Inc. raised its holdings in shares of Hut 8 by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock worth $366,526,000 after acquiring an additional 250,320 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Hut 8 by 4,669,387.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after purchasing an additional 4,062,367 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Hut 8 by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock valued at $104,133,000 after acquiring an additional 504,652 shares during the last quarter. Finally, SRS Investment Management LLC acquired a new stake in shares of Hut 8 in the 4th quarter valued at $131,838,000. Institutional investors and hedge funds 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.