Hut 8 (NASDAQ:HUT) Stock Price Down 1.6% – Here’s Why

Hut 8 Corp. (NASDAQ:HUT) traded down 1.6% on Monday . The company traded as low as $77.50 and last traded at $79.56. 4,693,121 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 4,852,140 shares. The stock had previously closed at $80.86.

Analyst Ratings Changes

HUT has been the topic of a number of analyst reports. Piper Sandler increased their price target on Hut 8 from $127.00 to $143.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Weiss Ratings downgraded Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday. Benchmark raised 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. BTIG Research boosted their price target on Hut 8 from $115.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Finally, Morgan Stanley started coverage on shares of Hut 8 in a research report on Thursday, July 23rd. They set an “overweight” rating and a $263.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Hut 8 presently has an average rating of “Buy” and a consensus target price of $144.89.

Hut 8 Stock Performance

The stock has a fifty day simple moving average of $102.73 and a two-hundred day simple moving average of $84.18. The company has a debt-to-equity ratio of 4.22, a quick ratio of 19.35 and a current ratio of 19.35. The stock has a market cap of $9.81 billion, a price-to-earnings ratio of -14.60 and a beta of 4.64.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.27) 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 business had revenue of $72.66 million for the quarter, compared to analyst estimates of $79.37 million. During the same period last year, the firm posted $1.18 EPS. Analysts expect that Hut 8 Corp. will post -2.85 EPS for the current fiscal year.

Insider Activity

In other Hut 8 news, insider Victor Semah sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 31,378 shares of the company’s stock, valued at approximately $3,922,250. The trade was a 24.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Flinn sold 30,500 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the completion of the transaction, the director directly owned 18,238 shares of the company’s stock, valued at $2,119,437.98. This trade represents a 62.58% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 48,219 shares of company stock valued at $5,704,552. Insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HUT. California State Teachers Retirement System grew its position in Hut 8 by 11,436.2% during the 2nd quarter. California State Teachers Retirement System now owns 13,256,088 shares of the company’s stock worth $1,530,349,000 after acquiring an additional 13,141,179 shares during the last quarter. BlackRock Inc. bought a new position in Hut 8 in the second quarter valued at about $1,093,294,000. Vanguard Group Inc. boosted its stake in shares of Hut 8 by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock valued at $366,526,000 after purchasing an additional 250,320 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew 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 worth $186,629,000 after purchasing an additional 4,062,367 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Hut 8 by 20.3% during the third quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock worth $104,133,000 after purchasing an additional 504,652 shares during the last quarter. 31.75% of the stock is currently 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.