Hut 8 (NASDAQ:HUT) Earns Neutral Rating from Analysts at Rothschild & Co Redburn

Rothschild & Co Redburn initiated coverage on shares of Hut 8 (NASDAQ:HUT) in a report issued on Monday, MarketBeat reports. The brokerage issued a neutral rating and a $96.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. B. Riley Financial lifted their price objective on Hut 8 from $130.00 to $163.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Weiss Ratings downgraded shares of Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $124.00 price target on shares of Hut 8 in a research note on Wednesday, August 5th. Benchmark lifted their price target on shares of Hut 8 from $165.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Finally, Piper Sandler upped their price target on shares of Hut 8 from $127.00 to $143.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Hut 8 currently has a consensus rating of “Buy” and an average price target of $143.95.

Hut 8 Stock Performance

Shares of Hut 8 stock opened at $102.46 on Monday. The stock’s fifty day simple moving average is $93.27 and its 200 day simple moving average is $90.18. The company has a current ratio of 19.35, a quick ratio of 19.35 and a debt-to-equity ratio of 4.22. The company has a market capitalization of $12.63 billion, a PE ratio of -18.80 and a beta of 4.51. Hut 8 has a 12 month low of $31.67 and a 12 month high of $140.80.

Hut 8 (NASDAQ:HUT) last posted its earnings results on Wednesday, August 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72). Hut 8 had a negative net margin of 188.59% and a negative return on equity of 0.97%. The business had revenue of $74.93 million during the quarter, compared to analyst estimates of $79.37 million. During the same period in the previous year, the firm posted $1.18 earnings per share. On average, research analysts predict that Hut 8 will post -2.85 EPS for the current year.

Insider Activity

In related news, CFO Sean Glennan sold 6,445 shares of Hut 8 stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $78.76, for a total value of $507,608.20. Following the sale, the chief financial officer owned 17,978 shares of the company’s stock, valued at approximately $1,415,947.28. This trade represents a 26.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Hut 8

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Hut 8 during the 2nd quarter worth approximately $1,093,294,000. Sachem Head Capital Management LP bought a new stake in shares of Hut 8 in the fourth quarter worth $129,780,000. Geode Capital Management LLC lifted its position in shares of Hut 8 by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 2,593,916 shares of the company’s stock worth $119,181,000 after purchasing an additional 79,591 shares in the last quarter. Oasis Management Co Ltd. boosted its holdings in Hut 8 by 231.5% during the fourth quarter. Oasis Management Co Ltd. now owns 2,307,683 shares of the company’s stock worth $106,015,000 after purchasing an additional 1,611,653 shares during the last quarter. Finally, Avala Global LP acquired a new position in Hut 8 during the second quarter worth $144,602,000. Institutional investors own 31.75% of the company’s stock.

Key Stories Impacting Hut 8

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

• Positive Sentiment: Hut 8 won bidding for Poolin’s Texas data centers with a $140 million offer. The acquisition could expand Hut 8’s power and data-center footprint and strengthen its position as it shifts beyond cryptocurrency mining toward AI and high-performance computing. However, investors may also assess the capital requirements and integration risks. The Block article
• Positive Sentiment: UBS initiated coverage of HUT with a Buy rating, along with favorable ratings for other bitcoin miners pursuing AI-related data-center opportunities. The coverage may improve institutional sentiment and supports the view that Hut 8’s infrastructure assets could have value beyond mining. UBS coverage article
• Positive Sentiment: Technical commentary described a bullish breakout above $101.83, with the prior high near $140.80 identified as a potential upside target if momentum continues. FXEmpire forecast
• Neutral Sentiment: Hut 8’s lean management structure and elimination of many traditional executive titles could reduce bureaucracy, though the long-term effect on execution and governance remains unclear. Wall Street Journal article
• Negative Sentiment: Rothschild & Co. Redburn initiated coverage with a Neutral rating and a $96 price target, below the recent trading level. That cautious view may weigh on the stock, particularly given Hut 8’s recent earnings miss and continued losses.
• Negative Sentiment: Local officials in West Feliciana Parish addressed community concerns about a proposed Hut 8 data center, highlighting potential permitting, environmental, infrastructure, or community-relations hurdles for future expansion. WBRZ article

About Hut 8

Hut 8 Corp. (NASDAQ:HUT) is a North American energy infrastructure and digital asset mining company. The company develops and operates data centers, power-generation resources and other infrastructure that support energy-intensive computing applications, including Bitcoin mining.

Hut 8 also provides services related to digital asset mining and data center operations, while pursuing opportunities in high-performance computing and artificial intelligence infrastructure. Its business is supported by a portfolio of power and data center sites in the United States and Canada.

The company was formed through the combination of Canadian Bitcoin miner Hut 8 Mining Corp.