Hut 8 Corp. (NASDAQ:HUT) Receives Consensus Rating of “Buy” from Brokerages

Hut 8 Corp. (NASDAQ:HUT) has earned an average recommendation of “Buy” from the nineteen analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $56.7647.

A number of equities research analysts recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and set a $65.00 price objective on shares of Hut 8 in a research report on Thursday, December 18th. B. Riley boosted their price objective on Hut 8 from $61.00 to $76.00 and gave the stock a “buy” rating in a report on Friday. Wall Street Zen upgraded Hut 8 from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. JMP Securities raised their price target on shares of Hut 8 from $25.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 21st. Finally, Benchmark reissued a “buy” rating on shares of Hut 8 in a research report on Wednesday, December 17th.

Hut 8 Trading Up 0.6%

Shares of Hut 8 stock opened at $61.48 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.72 and a quick ratio of 0.72. The business has a fifty day simple moving average of $45.34 and a two-hundred day simple moving average of $36.07. Hut 8 has a 1 year low of $10.04 and a 1 year high of $62.91. The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of -157.64 and a beta of 4.41.

Hut 8 (NASDAQ:HUT) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.09. The business had revenue of $80.72 million during the quarter, compared to the consensus estimate of $64.70 million. Hut 8 had a return on equity of 8.06% and a net margin of 115.39%. Research analysts forecast that Hut 8 will post -0.53 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Permanent Capital Management LP purchased a new stake in shares of Hut 8 in the fourth quarter worth $551,000. Harbour Capital Advisors LLC purchased a new stake in shares of Hut 8 during the fourth quarter valued at approximately $828,000. GAMMA Investing LLC purchased a new position in shares of Hut 8 in the fourth quarter valued at about $30,000. Value Aligned Research Advisors LLC lifted its holdings in Hut 8 by 110.2% in 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 during the period. Finally, IFP Advisors Inc boosted its holdings in Hut 8 by 23.9% in the third quarter. IFP Advisors Inc now owns 4,764 shares of the company’s stock valued at $166,000 after acquiring an additional 919 shares in the last quarter. Institutional investors own 31.75% of the company’s stock.

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.