Hut 8 Corp. (NASDAQ:HUT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Hut 8 Corp. (NASDAQ:HUT) has been assigned a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $65.5625.

A number of equities research analysts recently commented on the company. HC Wainwright reiterated a “buy” rating and issued a $80.00 target price on shares of Hut 8 in a research report on Thursday, February 26th. BTIG Research restated a “buy” rating and set a $55.00 price objective on shares of Hut 8 in a research note on Wednesday, December 17th. Craig Hallum reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a report on Thursday, December 18th. Roth Mkm reissued a “buy” rating and set a $80.00 target price on shares of Hut 8 in a report on Tuesday, January 27th. Finally, Keefe, Bruyette & Woods increased their price target on Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a research report on Tuesday, January 27th.

Institutional Investors Weigh In On Hut 8

Hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in Hut 8 by 19.4% in the 2nd quarter. Rhumbline Advisers now owns 146,356 shares of the company’s stock valued at $2,722,000 after purchasing an additional 23,753 shares during the last quarter. Zweig DiMenna Associates LLC acquired a new stake in Hut 8 during the 2nd quarter worth $3,688,000. Tobam grew its holdings in shares of Hut 8 by 48.9% during the second quarter. Tobam now owns 34,945 shares of the company’s stock worth $650,000 after buying an additional 11,482 shares in the last quarter. Paradiem LLC acquired a new stake in shares of Hut 8 in the third quarter valued at about $1,652,000. Finally, Harvest Portfolios Group Inc. lifted its stake in shares of Hut 8 by 75.3% in the third quarter. Harvest Portfolios Group Inc. now owns 85,093 shares of the company’s stock worth $2,962,000 after buying an additional 36,543 shares in the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Stock Performance

Shares of HUT opened at $54.21 on Thursday. The stock has a 50-day moving average of $55.17 and a two-hundred day moving average of $44.66. Hut 8 has a one year low of $10.04 and a one year high of $66.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market cap of $6.01 billion, a P/E ratio of -23.37 and a beta of 4.42.

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.