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

Shares of Hut 8 Corp. (NASDAQ:HUT) have received a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $65.5625.

A number of brokerages recently issued reports on HUT. Keefe, Bruyette & Woods lifted their target price on Hut 8 from $55.00 to $75.00 and gave the company a “moderate buy” rating in a research report on Tuesday, January 27th. Wall Street Zen cut shares of Hut 8 from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Benchmark reiterated a “buy” rating on shares of Hut 8 in a report on Wednesday, December 17th. Craig Hallum reissued a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a research report on Thursday, December 18th. Finally, Roth Mkm restated a “buy” rating and set a $80.00 target price on shares of Hut 8 in a report on Tuesday, January 27th.

Insider Activity

In other Hut 8 news, CFO Sean Joseph Glennan sold 4,625 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total transaction of $226,856.25. Following the sale, the chief financial officer directly owned 12,068 shares of the company’s stock, valued at $591,935.40. The trade was a 27.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Victor Semah sold 5,498 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $269,676.90. Following the transaction, the insider owned 24,796 shares of the company’s stock, valued at approximately $1,216,243.80. This represents a 18.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 11.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC increased its position in shares of Hut 8 by 1.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock worth $734,000 after purchasing an additional 254 shares during the last quarter. CWM LLC boosted its holdings in shares of Hut 8 by 37.4% in the 4th quarter. CWM LLC now owns 1,106 shares of the company’s stock valued at $51,000 after buying an additional 301 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Hut 8 by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock valued at $331,000 after buying an additional 321 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Hut 8 by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock valued at $996,000 after buying an additional 362 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Hut 8 by 4.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company’s stock worth $413,000 after buying an additional 388 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors.

Hut 8 Stock Performance

Shares of Hut 8 stock opened at $47.46 on Monday. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of -20.46 and a beta of 4.42. The stock’s 50-day moving average is $54.39 and its 200-day moving average is $46.88. Hut 8 has a one year low of $10.04 and a one year high of $66.07. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.09 and a quick ratio of 1.09.

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.