Hut 8 (NASDAQ:HUT) Stock Price Down 6.8% – Should You Sell?

Shares of Hut 8 Corp. (NASDAQ:HUT) dropped 6.8% during trading on Friday . The company traded as low as $50.30 and last traded at $49.22. Approximately 611,055 shares traded hands during trading, a decline of 90% from the average daily volume of 6,267,963 shares. The stock had previously closed at $52.80.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HUT. Craig Hallum reiterated a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a report on Thursday, December 18th. B. Riley restated a “buy” rating on shares of Hut 8 in a research report on Wednesday, October 22nd. Keefe, Bruyette & Woods lifted their price target on shares of Hut 8 from $30.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, December 19th. Northland Securities set a $58.00 price objective on shares of Hut 8 in a research note on Wednesday, November 5th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $65.00 price objective on shares of Hut 8 in a report on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Hut 8 presently has an average rating of “Buy” and a consensus price target of $53.76.

Hut 8 Stock Down 6.0%

The stock’s 50-day moving average price is $43.84 and its 200-day moving average price is $32.84. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of -127.28 and a beta of 4.41.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.09. The company had revenue of $80.72 million during the quarter, compared to analysts’ expectations of $64.70 million. Hut 8 had a net margin of 115.39% and a return on equity of 8.06%. On average, sell-side analysts expect that Hut 8 Corp. will post -0.53 earnings per share for the current year.

Institutional Investors Weigh In On Hut 8

Large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its holdings in Hut 8 by 116.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,515 shares of the company’s stock worth $28,000 after purchasing an additional 815 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Hut 8 by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock worth $30,000 after buying an additional 655 shares during the period. State of Wyoming bought a new stake in shares of Hut 8 in the 1st quarter valued at $32,000. Russell Investments Group Ltd. lifted its position in shares of Hut 8 by 235.8% during the 2nd 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 period. Finally, NewEdge Advisors LLC boosted its stake in Hut 8 by 67.2% during the third quarter. NewEdge Advisors LLC now owns 2,257 shares of the company’s stock worth $79,000 after acquiring an additional 907 shares in the last quarter. Institutional investors and hedge funds own 31.75% of the company’s stock.

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.