Hut 8 (NASDAQ:HUT) Stock Price Up 1.6% After Analyst Upgrade

Hut 8 Corp. (NASDAQ:HUT) shot up 1.6% during mid-day trading on Wednesday after Freedom Capital upgraded the stock to a strong-buy rating. The stock traded as high as $83.00 and last traded at $82.08. Approximately 5,486,077 shares changed hands during mid-day trading, an increase of 14% from the average session volume of 4,824,047 shares. The stock had previously closed at $80.79.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity Group boosted their price objective on Hut 8 from $70.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Needham & Company LLC reduced their target price on Hut 8 from $145.00 to $138.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Rosenblatt Securities reiterated a “buy” rating and set a $124.00 target price on shares of Hut 8 in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods lowered their target price on shares of Hut 8 from $157.00 to $154.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. Finally, Citigroup restated an “outperform” rating on shares of Hut 8 in a report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $144.89.

Insider Buying and Selling at Hut 8

In other Hut 8 news, insider Victor Semah sold 10,000 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. Following the completion of the sale, the insider directly owned 31,378 shares in the company, valued at approximately $3,922,250. This trade represents a 24.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Flinn sold 30,500 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $116.21, for a total value of $3,544,405.00. Following the completion of the transaction, the director directly owned 18,238 shares in the company, valued at approximately $2,119,437.98. The trade was a 62.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 48,219 shares of company stock worth $5,704,552 over the last ninety days. Corporate insiders own 10.40% of the company’s stock.

Key Headlines Impacting Hut 8

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Freedom Capital upgraded Hut 8 to “strong buy,” providing a positive analyst signal following the recent selloff. Zacks.com
• Positive Sentiment: Bitcoin rallied above $70,000 after President Donald Trump backed the Clarity Act, which could establish clearer rules for digital assets. Higher Bitcoin prices generally support Hut 8’s mining economics and crypto-related valuations. Bitcoin, crypto shares climb after Trump pushes Clarity Act
• Positive Sentiment: Hut 8 has been highlighted alongside a reported $19.6 billion Beacon Point backlog, reinforcing the company’s AI data-center growth narrative. Hut 8 Craters 11% Despite a $19.6B Beacon Point Backlog
• Positive Sentiment: Brokerages maintain a consensus “buy” recommendation for Hut 8, suggesting analysts remain constructive on its longer-term outlook. Hut 8 Corp. Receives Consensus Recommendation of Buy
• Neutral Sentiment: A federal court approved notice of a proposed class-action settlement involving purchasers of Hut 8 securities. The development may reduce litigation uncertainty, but the announcement does not provide settlement terms or the company’s financial obligation. Pomerantz Announces Proposed Class Action Settlement
• Negative Sentiment: The primary pressure appears to be broad profit-taking and position unwinding after major 2026 gains in AI-pivoting Bitcoin miners, rather than a deterioration in Hut 8’s contracts or business economics. What’s Pressuring These AI Miner Stocks?

Institutional Investors Weigh In On Hut 8

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in Hut 8 by 11.1% in the first quarter. Dimensional Fund Advisors LP now owns 207,619 shares of the company’s stock valued at $9,717,000 after purchasing an additional 20,813 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Hut 8 by 4,669,387.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after purchasing an additional 4,062,367 shares in the last quarter. Handelsbanken Fonder AB purchased a new stake in shares of Hut 8 during the 4th quarter worth approximately $1,153,000. Dayah Capital LLC boosted its holdings in shares of Hut 8 by 12.6% in the 1st quarter. Dayah Capital LLC now owns 217,920 shares of the company’s stock valued at $10,223,000 after buying an additional 24,456 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Hut 8 in the 1st quarter valued at $4,358,000. 31.75% of the stock is owned by institutional investors and hedge funds.

Hut 8 Price Performance

The stock’s 50-day moving average is $103.49 and its 200 day moving average is $84.01. The company has a debt-to-equity ratio of 4.22, a quick ratio of 19.35 and a current ratio of 19.35. The stock has a market capitalization of $9.97 billion, a PE ratio of -14.84 and a beta of 4.64.

Hut 8 (NASDAQ:HUT) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.72). Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%.The firm had revenue of $72.66 million for the quarter, compared to analyst estimates of $79.37 million. During the same period last year, the firm earned $1.18 EPS. As a group, equities analysts expect that Hut 8 Corp. will post -2.85 earnings per share for the current year.

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.