Hut 8 Corp. (NASDAQ:HUT) Given Average Rating of “Moderate Buy” by Analysts

Shares of Hut 8 Corp. (NASDAQ:HUT) have been given a consensus recommendation of “Moderate Buy” by the seventeen brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and sixteen have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $74.1875.

Several equities research analysts recently issued reports on HUT shares. Wall Street Zen lowered Hut 8 from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Needham & Company LLC increased their target price on Hut 8 from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Hut 8 in a research report on Thursday, February 26th. Canaccord Genuity Group increased their target price on Hut 8 from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, Piper Sandler increased their target price on Hut 8 from $74.00 to $93.00 and gave the stock an “overweight” rating in a research report on Tuesday.

Hut 8 Stock Performance

HUT stock opened at $78.77 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.12. The firm has a market cap of $8.73 billion, a P/E ratio of -33.95 and a beta of 4.38. Hut 8 has a 12-month low of $11.86 and a 12-month high of $83.18. The stock’s 50 day simple moving average is $56.16 and its 200 day simple moving average is $51.18.

Insider Buying and Selling at Hut 8

In other Hut 8 news, insider Victor Semah sold 5,498 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $269,676.90. Following the sale, the insider directly owned 24,796 shares of the company’s stock, valued at $1,216,243.80. This trade represents a 18.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sean Joseph Glennan sold 4,625 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $226,856.25. Following the completion of the sale, the chief financial officer directly owned 12,068 shares in the company, valued at $591,935.40. This represents a 27.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 11.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HUT. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Hut 8 by 4,669,387.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock valued at $186,629,000 after purchasing an additional 4,062,367 shares during the period. SRS Investment Management LLC acquired a new position in shares of Hut 8 during the fourth quarter valued at $131,838,000. Sachem Head Capital Management LP acquired a new position in shares of Hut 8 during the fourth quarter valued at $129,780,000. Ameriprise Financial Inc. increased its holdings in shares of Hut 8 by 1,043.0% during the second quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company’s stock valued at $46,255,000 after purchasing an additional 2,269,237 shares during the period. Finally, Oasis Management Co Ltd. increased its holdings in shares of Hut 8 by 231.5% during the fourth quarter. Oasis Management Co Ltd. now owns 2,307,683 shares of the company’s stock valued at $106,015,000 after purchasing an additional 1,611,653 shares during the period. 31.75% of the stock is 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.