Hut 8 Corp. (NASDAQ:HUT) Receives Average Rating of “Buy” from Analysts

Hut 8 Corp. (NASDAQ:HUT) has received an average rating of “Buy” from the nineteen brokerages that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $53.7647.

A number of equities analysts recently weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Hut 8 in a research report on Thursday, December 18th. JMP Securities raised their price target on Hut 8 from $25.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 21st. Wall Street Zen raised Hut 8 from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Craig Hallum reissued a “buy” rating and set a $80.00 target price on shares of Hut 8 in a research note on Thursday, December 18th. Finally, Roth Capital reaffirmed a “buy” rating on shares of Hut 8 in a research report on Tuesday, December 23rd.

Hut 8 Stock Performance

NASDAQ HUT opened at $58.35 on Wednesday. The stock has a fifty day simple moving average of $44.45 and a 200-day simple moving average of $34.59. 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 $6.30 billion, a PE ratio of -149.62 and a beta of 4.41. Hut 8 has a twelve month low of $10.04 and a twelve month high of $60.42.

Hut 8 (NASDAQ:HUT) last posted its earnings results on Tuesday, November 4th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. Hut 8 had a net margin of 115.39% and a return on equity of 8.06%. The company had revenue of $80.72 million for the quarter, compared to analysts’ expectations of $64.70 million. Equities analysts anticipate that Hut 8 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. Vanguard Group Inc. boosted its position in Hut 8 by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,728,037 shares of the company’s stock valued at $269,013,000 after buying an additional 140,248 shares during the period. Ameriprise Financial Inc. boosted its holdings in Hut 8 by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock valued at $104,133,000 after purchasing an additional 504,652 shares during the period. Geode Capital Management LLC boosted its holdings in Hut 8 by 13.7% in the second quarter. Geode Capital Management LLC now owns 2,563,091 shares of the company’s stock valued at $47,679,000 after purchasing an additional 309,113 shares during the period. Value Aligned Research Advisors LLC grew its stake in Hut 8 by 110.2% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company’s stock worth $67,845,000 after purchasing an additional 1,021,955 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Hut 8 by 45.5% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,555,800 shares of the company’s stock worth $54,156,000 after purchasing an additional 486,721 shares during the period. 31.75% of the stock is owned by hedge funds and other 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.