Hut 8 (NASDAQ:HUT) Stock Rating Upgraded by Freedom Capital

Hut 8 (NASDAQ:HUT) was upgraded by Freedom Capital to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Wall Street Zen downgraded Hut 8 from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Jefferies Financial Group assumed coverage on Hut 8 in a report on Thursday, May 14th. They issued a “buy” rating and a $156.00 target price on the stock. Maxim Group raised Hut 8 to a “strong-buy” rating in a research note on Wednesday, August 5th. Northland Securities set a $120.00 price target on Hut 8 in a research report on Thursday, May 7th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Hut 8 from $157.00 to $154.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Hut 8 has a consensus rating of “Buy” and an average price target of $144.89.

Hut 8 Trading Up 8.0%

Shares of HUT stock opened at $88.65 on Tuesday. The stock has a market capitalization of $10.93 billion, a PE ratio of -16.27 and a beta of 4.64. The business has a 50-day moving average of $103.49 and a 200 day moving average of $84.01. The company has a debt-to-equity ratio of 4.22, a current ratio of 19.35 and a quick ratio of 19.35. Hut 8 has a 1-year low of $21.00 and a 1-year high of $140.80.

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

Insider Transactions at Hut 8

In other news, Director Joseph Flinn sold 7,719 shares of Hut 8 stock in a transaction that occurred 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 completion of the sale, the director directly owned 10,519 shares in the company, valued at $1,240,295.29. The trade was a 42.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 business’s stock in a transaction that occurred on 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 transaction, the insider directly owned 31,378 shares of the company’s stock, valued at $3,922,250. The trade was a 24.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 48,219 shares of company stock worth $5,704,552. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Hut 8

Several hedge funds and other institutional investors have recently modified their holdings of HUT. Arlington Trust Co LLC boosted its stake in shares of Hut 8 by 175.0% in the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock worth $32,000 after buying an additional 175 shares during the last quarter. Imprint Wealth LLC bought a new stake in shares of Hut 8 in the fourth quarter worth $38,000. Russell Investments Group Ltd. increased its position in Hut 8 by 235.8% during the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock valued at $46,000 after acquiring an additional 1,719 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in Hut 8 during the first quarter valued at $47,000. Finally, Activest Wealth Management bought a new position in Hut 8 in the fourth quarter valued at about $49,000. 31.75% of the stock is owned by institutional investors.

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.