Hut 8 (NASDAQ:HUT) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Hut 8 (NASDAQ:HUT) from a sell rating to a hold rating in a research report sent to investors on Saturday.

A number of other research firms also recently commented on HUT. Rosenblatt Securities reaffirmed a “buy” rating and set a $65.00 target price on shares of Hut 8 in a report on Thursday, December 18th. Benchmark reissued a “buy” rating on shares of Hut 8 in a research report on Wednesday, December 17th. Needham & Company LLC restated a “buy” rating and set a $60.00 price objective on shares of Hut 8 in a research note on Friday, January 16th. B. Riley upped their price objective on shares of Hut 8 from $61.00 to $76.00 and gave the company a “buy” rating in a report on Friday, January 9th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a report on Tuesday, January 27th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Hut 8 presently has an average rating of “Buy” and a consensus price target of $59.12.

Hut 8 Trading Down 9.3%

NASDAQ:HUT opened at $55.83 on Friday. The company has a market capitalization of $6.03 billion, a P/E ratio of -143.15 and a beta of 4.41. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14. Hut 8 has a 12 month low of $10.04 and a 12 month high of $66.07. The firm has a fifty day simple moving average of $50.20 and a 200-day simple moving average of $39.41.

Hut 8 (NASDAQ:HUT) last released its 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. Hut 8 had a return on equity of 8.06% and a net margin of 115.39%.The firm had revenue of $80.72 million for the quarter, compared to the consensus estimate of $64.70 million. On average, equities research analysts anticipate that Hut 8 will post -0.53 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in shares of Hut 8 during the 4th quarter valued at about $30,000. Activest Wealth Management purchased a new position in Hut 8 during the fourth quarter worth approximately $49,000. CWM LLC grew its holdings in Hut 8 by 37.4% in the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock valued at $51,000 after purchasing an additional 301 shares during the period. Farther Finance Advisors LLC increased its position in shares of Hut 8 by 1,578.3% in the fourth quarter. Farther Finance Advisors LLC now owns 1,393 shares of the company’s stock valued at $64,000 after buying an additional 1,310 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Hut 8 by 116.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,515 shares of the company’s stock worth $28,000 after buying an additional 815 shares during the period. Institutional investors and hedge funds 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.