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

Wall Street Zen downgraded shares of Hut 8 (NASDAQ:HUT) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

HUT has been the topic of several other research reports. Canaccord Genuity Group lifted their price target on Hut 8 from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. Benchmark restated a “buy” rating on shares of Hut 8 in a research report on Wednesday, December 17th. Craig Hallum reiterated a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research report on Thursday, December 18th. Keefe, Bruyette & Woods raised their price objective on shares of Hut 8 from $30.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, December 19th. Finally, Northland Securities set a $58.00 price objective on shares of Hut 8 in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $56.76.

Hut 8 Price Performance

Shares of HUT opened at $58.22 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.72 and a quick ratio of 0.72. Hut 8 has a 1-year low of $10.04 and a 1-year high of $62.91. The stock has a market cap of $6.29 billion, a PE ratio of -149.28 and a beta of 4.41. The firm has a fifty day moving average price of $47.83 and a 200 day moving average price of $38.19.

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

Institutional Trading of Hut 8

Several hedge funds and other institutional investors have recently made changes to their positions in HUT. Vanguard Group Inc. raised its holdings in Hut 8 by 1.8% during the third quarter. Vanguard Group Inc. now owns 7,728,037 shares of the company’s stock worth $269,013,000 after purchasing an additional 140,248 shares in the last quarter. Ameriprise Financial Inc. increased its position in Hut 8 by 20.3% during the 3rd 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 period. Geode Capital Management LLC increased its position in Hut 8 by 13.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,563,091 shares of the company’s stock worth $47,679,000 after purchasing an additional 309,113 shares during the period. Value Aligned Research Advisors LLC raised its stake in shares of 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 buying an additional 1,021,955 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Hut 8 by 45.5% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,555,800 shares of the company’s stock valued at $54,156,000 after buying an additional 486,721 shares during the period. Hedge funds and other institutional investors own 31.75% of the company’s stock.

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.