Hut 8 (NASDAQ:HUT) Shares Up 9.2% – Should You Buy?

Hut 8 Corp. (NASDAQ:HUT) shares were up 9.2% during trading on Thursday . The company traded as high as $88.69 and last traded at $88.09. Approximately 5,457,721 shares changed hands during mid-day trading, an increase of 13% from the average session volume of 4,822,277 shares. The stock had previously closed at $80.68.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. B. Riley Financial lifted their target price on Hut 8 from $130.00 to $163.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. BTIG Research increased their price target on Hut 8 from $115.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Morgan Stanley initiated coverage on shares of Hut 8 in a report on Thursday, July 23rd. They issued an “overweight” rating and a $263.00 price objective on the stock. Freedom Capital raised shares of Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Finally, Jefferies Financial Group began coverage on shares of Hut 8 in a research note on Thursday, May 14th. They set a “buy” rating and a $156.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $144.89.

Hut 8 Price Performance

The company has a debt-to-equity ratio of 4.22, a current ratio of 19.35 and a quick ratio of 19.35. The firm has a market capitalization of $11.53 billion, a price-to-earnings ratio of -17.16 and a beta of 4.51. The stock has a 50 day moving average price of $95.29 and a two-hundred day moving average price of $86.07.

Hut 8 (NASDAQ:HUT) last announced its earnings results on Wednesday, August 5th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72). The firm had revenue of $74.93 million for the quarter, compared to analysts’ expectations of $79.37 million. Hut 8 had a negative net margin of 188.59% and a negative return on equity of 0.97%. During the same quarter last year, the business earned $1.18 earnings per share. As a group, analysts expect that Hut 8 Corp. will post -2.85 EPS for the current year.

Insider Activity at Hut 8

In related news, insider Victor Semah sold 10,000 shares of Hut 8 stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following the completion of the transaction, 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. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sean Glennan sold 6,445 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $78.76, for a total transaction of $507,608.20. Following the sale, the chief financial officer owned 17,978 shares in the company, valued at approximately $1,415,947.28. This trade represents a 26.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 54,664 shares of company stock worth $6,212,160. Corporate insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System increased its stake in shares of Hut 8 by 11,436.2% during the second quarter. California State Teachers Retirement System now owns 13,256,088 shares of the company’s stock worth $1,530,349,000 after buying an additional 13,141,179 shares during the period. BlackRock Inc. acquired a new stake in shares of Hut 8 in the 2nd quarter valued at $1,093,294,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Hut 8 by 4,669,387.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock valued at $186,629,000 after purchasing an additional 4,062,367 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Hut 8 by 20.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock worth $104,133,000 after purchasing an additional 504,652 shares during the last quarter. Finally, SRS Investment Management LLC acquired a new position in shares of Hut 8 during the fourth quarter worth $131,838,000. 31.75% of the stock is owned by institutional investors and hedge funds.

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.