Hut 8 (NASDAQ:HUT) Cut to “Sell” at Wall Street Zen

Hut 8 (NASDAQ:HUT) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Friday.

A number of other research firms also recently commented on HUT. Craig Hallum reiterated a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research note on Thursday, December 18th. Keefe, Bruyette & Woods increased their target price on Hut 8 from $30.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, December 19th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hut 8 in a report on Monday, December 29th. BTIG Research reissued a “buy” rating and set a $55.00 price target on shares of Hut 8 in a research report on Wednesday, December 17th. Finally, JMP Securities boosted their price target on shares of Hut 8 from $25.00 to $65.00 and gave the company a “market outperform” rating in a report on Tuesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Hut 8 currently has an average rating of “Buy” and an average target price of $56.76.

Hut 8 Stock Up 5.6%

Shares of NASDAQ HUT opened at $58.22 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.72 and a current ratio of 0.72. Hut 8 has a 1 year low of $10.04 and a 1 year high of $62.91. The stock’s 50-day simple moving average is $47.83 and its 200-day simple moving average is $37.95. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of -149.28 and a beta of 4.41.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. Hut 8 had a return on equity of 8.06% and a net margin of 115.39%.The firm had revenue of $80.72 million during the quarter, compared to analyst estimates of $64.70 million. As a group, equities analysts anticipate that Hut 8 will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HUT. Nisa Investment Advisors LLC boosted its holdings in shares of Hut 8 by 1.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock worth $734,000 after acquiring an additional 254 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in 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 worth $331,000 after purchasing an additional 321 shares in the last quarter. Arizona State Retirement System boosted its stake in Hut 8 by 1.9% in the third quarter. Arizona State Retirement System now owns 29,290 shares of the company’s stock worth $1,020,000 after purchasing an additional 542 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Hut 8 during the fourth quarter worth $30,000. Finally, Advisors Asset Management Inc. increased its stake in shares of Hut 8 by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $30,000 after buying an additional 655 shares in the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

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.