Hut 8 Stock Gets Increased EPS Estimate from Maxim Group

Hut 8 Corp. (NASDAQ:HUT) – Maxim Group raised their Q3 2026 earnings per share estimates for Hut 8 in a report issued on Monday, October 12th. Maxim Group analyst A. Klee now anticipates that the company will earn ($1.57) per share for the quarter, up from their previous forecast of ($1.62). Maxim Group currently has a “Strong-Buy” rating on the stock. The consensus estimate for Hut 8’s current full-year earnings is ($2.97) per share. Maxim Group also issued estimates for Hut 8’s Q4 2026 earnings at ($1.45) EPS, FY2026 earnings at ($3.86) EPS, Q1 2027 earnings at ($1.48) EPS, Q2 2027 earnings at ($2.85) EPS, Q3 2027 earnings at ($5.52) EPS, Q4 2027 earnings at ($4.87) EPS, FY2027 earnings at ($14.72) EPS, Q1 2028 earnings at ($4.64) EPS, Q2 2028 earnings at ($8.27) EPS, Q3 2028 earnings at ($7.74) EPS and FY2028 earnings at ($28.03) EPS.

HUT has been the topic of a number of other research reports. Roth Capital reissued a “buy” rating and set a $108.00 price objective on shares of Hut 8 in a report on Wednesday, October 7th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $130.00 target price on shares of Hut 8 in a report on Wednesday, October 7th. UBS Group reaffirmed a “buy” rating on shares of Hut 8 in a report on Thursday, October 8th. Needham & Company LLC decreased their price target on Hut 8 from $145.00 to $138.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. Finally, Loop Capital set a $226.00 price target on shares of Hut 8 in a report on Monday, June 22nd. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $145.77.

Hut 8 Price Performance

NASDAQ:HUT opened at $83.61 on Wednesday. The company has a current ratio of 19.35, a quick ratio of 19.35 and a debt-to-equity ratio of 4.22. Hut 8 has a 52-week low of $31.67 and a 52-week high of $140.80. The business’s fifty day moving average is $89.18 and its 200 day moving average is $94.01.

Hut 8 (NASDAQ:HUT) last posted its quarterly 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 company had revenue of $74.93 million during the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $1.18 earnings per share.

Institutional Trading of Hut 8

Several institutional investors and hedge funds have recently modified their holdings of the business. GK Wealth Management LLC purchased a new position in shares of Hut 8 in the 3rd quarter worth about $25,000. Arlington Trust Co LLC increased its position in shares of Hut 8 by 175.0% during the 2nd 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 last quarter. Parkside Financial Bank & Trust increased its position in shares of Hut 8 by 258.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 380 shares of the company’s stock valued at $44,000 after purchasing an additional 274 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in shares of Hut 8 during the 1st quarter valued at about $47,000. Finally, CoreCap Advisors LLC raised its holdings in shares of Hut 8 by 42.1% during the 2nd quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock valued at $62,000 after buying an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Insider Buying and Selling at Hut 8

In related news, CFO Sean Glennan sold 6,445 shares of Hut 8 stock in a transaction 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 completion of the sale, the chief financial officer owned 17,978 shares of the company’s stock, valued at approximately $1,415,947.28. This trade represents a 26.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mayo A. Shattuck III sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $100.00, for a total value of $2,000,000.00. Following the transaction, the director owned 89,408 shares of the company’s stock, valued at approximately $8,940,800. The trade was a 18.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 10.40% of the company’s stock.

Hut 8 News Summary

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Maxim Group raised its EPS forecasts across multiple periods, including FY2026 to a loss of $3.86 per share from $4.00, FY2027 to a loss of $14.72 from $15.13, and FY2028 to a loss of $28.03 from $28.33. The firm also increased estimates for each reported quarter from Q3 2026 through Q3 2028. Although the revisions still imply losses, smaller projected losses can signal improving expectations. Maxim maintained a “Strong-Buy” rating on Hut 8.

About Hut 8

Hut 8 Corp. (NASDAQ: HUT) is a North American energy infrastructure and digital asset mining company. Its operations include cryptocurrency mining, with a primary focus on Bitcoin, as well as the development and management of data center infrastructure supported by its energy resources.

The company owns and operates mining and data center facilities in the United States and Canada. In addition to self-mining digital assets, Hut 8 has pursued opportunities in high-performance computing and artificial intelligence infrastructure, using its power capacity, data center sites and related development capabilities to support evolving computing demand.

Hut 8 was originally established as Hut 8 Mining Corp., a Canadian cryptocurrency mining company.