Hut 8 (NASDAQ:HUT) Research Coverage Started at Arete Research

Arete Research began coverage on shares of Hut 8 (NASDAQ:HUT) in a research report report published on Monday, MarketBeat Ratings reports. The firm issued a buy rating and a $136.00 target price on the stock.

A number of other equities analysts have also issued reports on HUT. Benchmark reaffirmed a “buy” rating on shares of Hut 8 in a research report on Wednesday, December 17th. Wall Street Zen downgraded shares of Hut 8 from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. B. Riley Financial raised their price target on shares of Hut 8 from $61.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Rosenblatt Securities restated a “buy” rating and set a $65.00 price objective on shares of Hut 8 in a report on Thursday, February 26th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Hut 8 in a research report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.71.

Hut 8 Stock Performance

Shares of NASDAQ HUT opened at $55.62 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $54.01 and its two-hundred day moving average is $47.32. The company has a market cap of $6.17 billion, a P/E ratio of -23.97 and a beta of 4.42. Hut 8 has a 12 month low of $10.04 and a 12 month high of $66.07.

Insider Buying and Selling at Hut 8

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Hut 8 by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock valued at $366,526,000 after buying an additional 250,320 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Hut 8 by 4,669,387.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after buying an additional 4,062,367 shares in the last quarter. Ameriprise Financial Inc. grew its holdings 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 acquiring an additional 504,652 shares during the last quarter. SRS Investment Management LLC bought a new stake in Hut 8 during the 4th quarter worth about $131,838,000. Finally, Sachem Head Capital Management LP acquired a new stake in Hut 8 in the 4th quarter valued at about $129,780,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

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.