Hut 8 Corp. (NASDAQ:HUT) Stock Now Rated “Buy” by Sell-Side Brokerages

Shares of Hut 8 Corp. (NASDAQ:HUT) have been given an average recommendation of “Buy” by the twenty-four brokerages that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eighteen have assigned a buy recommendation and four have issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $141.59.

Several brokerages recently issued reports on HUT. Canaccord Genuity Group restated a “buy” rating and issued a $130.00 price objective on shares of Hut 8 in a report on Wednesday, October 7th. Piper Sandler decreased their target price on shares of Hut 8 from $143.00 to $123.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 20th. Wall Street Zen raised shares of Hut 8 from a “strong sell” rating to a “sell” rating in a research note on Saturday. Maxim Group upgraded shares of Hut 8 to a “strong-buy” rating in a research report on Wednesday, August 5th. Finally, Freedom Capital raised shares of Hut 8 to a “strong-buy” rating in a research note on Tuesday, August 18th.

Key Stories Impacting Hut 8

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

• Positive Sentiment: Investors are increasingly valuing crypto miners for their AI data-center potential, lifting the sector even as Bitcoin was flat; Hut 8 was among the gainers. Article: Riot Platforms Jumps as AI Data Center Bets Lift Bitcoin Miners
• Positive Sentiment: Hut 8’s Q3 call highlighted its AI growth plans, including $27 billion in data-center leases, $7.5 billion in project financing and plans to expand power capacity. The company also expects 700 megawatts at Beacon Point in Q1 2027 on a path toward a full gigawatt. Article: HUT Q3 Earnings Call Focuses on AI Expansion and Project Financing Article: Hut 8 Anticipates Beacon Point Energization and Expands Buyback
• Neutral Sentiment: B. Riley reaffirmed its Buy rating with a $132 target, trimmed slightly from $134. Wells Fargo, Needham and Cantor Fitzgerald also retained positive ratings despite lowering their targets. B. Riley Recommendations
• Negative Sentiment: Hut 8’s Q3 earnings missed estimates, and several firms cut price targets: Wells Fargo to $148, Needham to $101 and Cantor Fitzgerald to $127. The cuts may temper enthusiasm, though the firms maintained Overweight or Buy ratings. Cantor Fitzgerald Target Cut Wells Fargo Target Cut Needham Target Cut

Insider Buying and Selling

In related news, CFO Sean Glennan sold 6,445 shares of Hut 8 stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $78.76, for a total value of $507,608.20. Following the completion of the sale, the chief financial officer owned 17,978 shares in the company, valued at approximately $1,415,947.28. This trade represents a 26.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mayo Shattuck, III sold 20,000 shares of Hut 8 stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the director owned 89,408 shares of the company’s stock, valued at $8,940,800. This trade represents a 18.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Hut 8

A number of institutional investors have recently modified their holdings of HUT. GK Wealth Management LLC acquired a new position in Hut 8 during the 3rd quarter worth about $25,000. Arlington Trust Co LLC increased its stake in 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. Heritage Family Offices LLP purchased a new stake in Hut 8 during the third quarter worth about $35,000. Parkside Financial Bank & Trust lifted its position in shares of Hut 8 by 258.5% during the second quarter. Parkside Financial Bank & Trust now owns 380 shares of the company’s stock worth $44,000 after purchasing an additional 274 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Hut 8 during the third quarter worth about $50,000. 31.75% of the stock is owned by institutional investors and hedge funds.

Hut 8 Price Performance

HUT stock opened at $52.65 on Tuesday. The business has a fifty day moving average of $80.94 and a two-hundred day moving average of $82.18. The company has a quick ratio of 19.35, a current ratio of 9.48 and a debt-to-equity ratio of 3.84. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of -10.74 and a beta of 4.53. Hut 8 has a 52-week low of $31.67 and a 52-week high of $140.80.

Hut 8 (NASDAQ:HUT) last posted its earnings results on Wednesday, November 4th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $1.70. The company had revenue of $71.07 million for the quarter, compared to the consensus estimate of $75.78 million. Hut 8 had a negative return on equity of 9.68% and a negative net margin of 169.76%. As a group, research analysts anticipate that Hut 8 will post -1.33 earnings per share for the current year.

Hut 8 Company Profile

Hut 8 is a North American energy and digital infrastructure company whose businesses include Bitcoin mining, data centers and computing services. It develops and operates facilities that support digital asset mining and other high-performance computing workloads.

The company’s services include infrastructure and managed services for Bitcoin mining, as well as data center capacity and computing solutions. Hut 8 also works on developing and operating energy infrastructure to support its facilities.

Hut 8 Corp was formed in 2023 through the merger of Canadian Bitcoin miner Hut 8 Mining Corp.