Hut 8 (NASDAQ:HUT) Stock Price Up 8% – Should You Buy?

Hut 8 Corp. (NASDAQ:HUT)’s stock price rose 8% during mid-day trading on Thursday . The company traded as high as $89.16 and last traded at $88.65. 4,438,414 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 4,823,084 shares. The stock had previously closed at $82.08.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HUT. Benchmark increased their price target on Hut 8 from $165.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Loop Capital set a $226.00 price objective on Hut 8 in a research note on Monday, June 22nd. Morgan Stanley initiated coverage on Hut 8 in a report on Thursday, July 23rd. They set an “overweight” rating and a $263.00 target price on the stock. Wall Street Zen lowered Hut 8 from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Finally, Needham & Company LLC cut their price target on Hut 8 from $145.00 to $138.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $144.89.

Hut 8 Trading Up 8.0%

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 business’s fifty day moving average is $104.04 and its two-hundred day moving average is $83.77. The firm has a market cap of $10.93 billion, a price-to-earnings ratio of -16.27 and a beta of 4.64.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The firm 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 period in the prior year, the company posted $1.18 EPS. Equities analysts anticipate that Hut 8 Corp. will post -2.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Victor Semah sold 10,000 shares of the business’s 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 sale, the insider owned 31,378 shares in the company, valued at $3,922,250. The trade was a 24.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Flinn sold 7,719 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $117.91, for a total value of $910,147.29. Following the transaction, the director directly owned 10,519 shares in the company, valued at $1,240,295.29. This trade represents a 42.32% decrease in their position. 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. In the last 90 days, insiders have sold 48,219 shares of company stock valued at $5,704,552. 10.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in HUT. CoreCap Advisors LLC grew its position in shares of Hut 8 by 42.1% during the 2nd quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock worth $62,000 after buying an additional 160 shares during the period. Arlington Trust Co LLC lifted its holdings in Hut 8 by 175.0% in the second quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock valued at $32,000 after buying an additional 175 shares during the period. GAMMA Investing LLC boosted its stake in Hut 8 by 35.0% in the second quarter. GAMMA Investing LLC now owns 1,057 shares of the company’s stock valued at $122,000 after acquiring an additional 274 shares during the last quarter. CWM LLC grew its holdings in Hut 8 by 37.4% during the 4th quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after acquiring an additional 301 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Hut 8 by 1.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock valued at $996,000 after acquiring an additional 362 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

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.