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

Shares of Hut 8 Corp. (NASDAQ:HUT) have been assigned an average rating of “Moderate Buy” from the nineteen analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and eighteen have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $137.20.

Several research analysts have recently weighed in on the stock. Citizens Jmp lifted their target price on shares of Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 7th. Piper Sandler upped their price target on shares of Hut 8 from $93.00 to $127.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Northland Securities set a $120.00 price objective on shares of Hut 8 in a research note on Thursday, May 7th. Rosenblatt Securities reiterated a “buy” rating and set a $124.00 price objective on shares of Hut 8 in a research report on Tuesday, July 21st. Finally, Wall Street Zen downgraded shares of Hut 8 from a “sell” rating to a “strong sell” rating in a research note on Saturday.

Hut 8 Trading Down 0.6%

NASDAQ:HUT opened at $107.63 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. Hut 8 has a 1-year low of $18.68 and a 1-year high of $140.80. The firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of -35.88 and a beta of 4.62. The stock has a fifty day simple moving average of $111.84 and a 200 day simple moving average of $80.83.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($1.65). Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%.The company had revenue of $139.31 million for the quarter, compared to analyst estimates of $78.53 million. Sell-side analysts forecast that Hut 8 will post -2.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Amy Marie Wilkinson sold 20,000 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the transaction, the director directly owned 262,136 shares of the company’s stock, valued at approximately $26,418,066.08. The trade was a 7.09% 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. Also, Director Rick Rickertsen sold 17,491 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total value of $1,924,010.00. Following the completion of the sale, the director directly owned 17,491 shares of the company’s stock, valued at approximately $1,924,010. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 112,724 shares of company stock worth $12,184,340. 10.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hut 8

Several institutional investors and hedge funds have recently bought and sold shares of HUT. CoreCap Advisors LLC increased its holdings in shares of Hut 8 by 42.1% in the 2nd quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock valued at $62,000 after purchasing an additional 160 shares during the period. Arlington Trust Co LLC boosted its holdings in shares of Hut 8 by 175.0% during the second quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock worth $32,000 after purchasing an additional 175 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Hut 8 by 1.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock worth $734,000 after purchasing an additional 254 shares during the period. GAMMA Investing LLC grew its position in Hut 8 by 35.0% during the second quarter. GAMMA Investing LLC now owns 1,057 shares of the company’s stock valued at $122,000 after purchasing an additional 274 shares in the last quarter. Finally, CWM LLC grew its position in Hut 8 by 37.4% during the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock valued at $51,000 after purchasing an additional 301 shares in the last quarter. Hedge funds and other institutional investors 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.