Hut 8 (NASDAQ:HUT) Shares Up 1.6% on Analyst Upgrade

Hut 8 Corp. (NASDAQ:HUT)’s stock price rose 1.6% during mid-day trading on Wednesday after Freedom Capital upgraded the stock to a strong-buy rating. The stock traded as high as $83.00 and last traded at $82.08. 5,486,077 shares traded hands during mid-day trading, an increase of 14% from the average session volume of 4,824,047 shares. The stock had previously closed at $80.79.

Several other equities research analysts have also recently weighed in on HUT. Citigroup reaffirmed an “outperform” rating on shares of Hut 8 in a research note on Tuesday, April 28th. Morgan Stanley initiated coverage on shares of Hut 8 in a report on Thursday, July 23rd. They set an “overweight” rating and a $263.00 target price on the stock. Jefferies Financial Group initiated coverage on shares of Hut 8 in a research note on Thursday, May 14th. They set a “buy” rating and a $156.00 price objective on the stock. Northland Securities set a $120.00 target price on shares of Hut 8 in a research note on Thursday, May 7th. Finally, Citizens Jmp lifted their target price on shares of Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $144.89.

Insider Transactions at Hut 8

In related news, Director Joseph Flinn sold 30,500 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the sale, the director directly owned 18,238 shares of the company’s stock, valued at approximately $2,119,437.98. This represents a 62.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Victor Semah sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the sale, the insider owned 31,378 shares of the company’s stock, valued at approximately $3,922,250. This represents a 24.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 48,219 shares of company stock worth $5,704,552. 10.40% of the stock is currently owned by company insiders.

Hut 8 News Roundup

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

• Positive Sentiment: Freedom Capital upgraded Hut 8 to “strong buy,” providing a positive analyst signal following the recent selloff. Zacks.com
• Positive Sentiment: Bitcoin rallied above $70,000 after President Donald Trump backed the Clarity Act, which could establish clearer rules for digital assets. Higher Bitcoin prices generally support Hut 8’s mining economics and crypto-related valuations. Bitcoin, crypto shares climb after Trump pushes Clarity Act
• Positive Sentiment: Hut 8 has been highlighted alongside a reported $19.6 billion Beacon Point backlog, reinforcing the company’s AI data-center growth narrative. Hut 8 Craters 11% Despite a $19.6B Beacon Point Backlog
• Positive Sentiment: Brokerages maintain a consensus “buy” recommendation for Hut 8, suggesting analysts remain constructive on its longer-term outlook. Hut 8 Corp. Receives Consensus Recommendation of Buy
• Neutral Sentiment: A federal court approved notice of a proposed class-action settlement involving purchasers of Hut 8 securities. The development may reduce litigation uncertainty, but the announcement does not provide settlement terms or the company’s financial obligation. Pomerantz Announces Proposed Class Action Settlement
• Negative Sentiment: The primary pressure appears to be broad profit-taking and position unwinding after major 2026 gains in AI-pivoting Bitcoin miners, rather than a deterioration in Hut 8’s contracts or business economics. What’s Pressuring These AI Miner Stocks?

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in shares of Hut 8 by 11.1% during the first quarter. Dimensional Fund Advisors LP now owns 207,619 shares of the company’s stock valued at $9,717,000 after purchasing an additional 20,813 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in Hut 8 by 4,669,387.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after purchasing an additional 4,062,367 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in Hut 8 in the fourth quarter worth approximately $1,153,000. Dayah Capital LLC grew its position in Hut 8 by 12.6% in the 1st quarter. Dayah Capital LLC now owns 217,920 shares of the company’s stock worth $10,223,000 after purchasing an additional 24,456 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Hut 8 in the 1st quarter worth approximately $4,358,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Stock Performance

The firm has a market capitalization of $9.97 billion, a PE ratio of -14.84 and a beta of 4.64. The company has a current ratio of 19.35, a quick ratio of 19.35 and a debt-to-equity ratio of 4.22. The business’s 50 day simple moving average is $103.49 and its two-hundred day simple moving average is $84.01.

Hut 8 (NASDAQ:HUT) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72). Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%.The firm had revenue of $72.66 million during the quarter, compared to analysts’ expectations of $79.37 million. During the same quarter last year, the business earned $1.18 earnings per share. Research analysts expect that Hut 8 Corp. will post -2.85 earnings per share for the current fiscal year.

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.