Hut 8 (NASDAQ:HUT) Shares Gap Down – Time to Sell?

Hut 8 Corp. (NASDAQ:HUT)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $50.39, but opened at $48.15. Hut 8 shares last traded at $52.5180, with a volume of 525,128 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HUT. Benchmark reiterated a “buy” rating on shares of Hut 8 in a research note on Wednesday, December 17th. BTIG Research reaffirmed a “buy” rating and issued a $55.00 target price on shares of Hut 8 in a report on Wednesday, December 17th. B. Riley reiterated a “buy” rating on shares of Hut 8 in a research report on Wednesday, October 22nd. Roth Capital reiterated a “buy” rating on shares of Hut 8 in a research note on Tuesday. Finally, Canaccord Genuity Group lifted their price objective on shares of Hut 8 from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $53.76.

Hut 8 Stock Up 0.6%

The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of -135.36 and a beta of 4.41. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14. The firm’s 50 day simple moving average is $43.73 and its 200-day simple moving average is $32.39.

Hut 8 (NASDAQ:HUT) last issued its earnings results on Tuesday, November 4th. The company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.09. The business had revenue of $80.72 million for the quarter, compared to the consensus estimate of $64.70 million. Hut 8 had a net margin of 115.39% and a return on equity of 8.06%. On average, sell-side analysts anticipate that Hut 8 Corp. will post -0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its position in Hut 8 by 116.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,515 shares of the company’s stock worth $28,000 after acquiring an additional 815 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Hut 8 by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock worth $30,000 after purchasing an additional 655 shares during the period. State of Wyoming purchased a new position in shares of Hut 8 in the 1st quarter valued at about $32,000. Russell Investments Group Ltd. lifted its stake in shares of Hut 8 by 235.8% in the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock valued at $46,000 after purchasing an additional 1,719 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in Hut 8 by 67.2% during the third quarter. NewEdge Advisors LLC now owns 2,257 shares of the company’s stock worth $79,000 after buying an additional 907 shares in the last quarter. Institutional investors and hedge funds own 31.75% of the company’s stock.

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.