Hut 8 (NASDAQ:HUT) Shares Gap Up – What’s Next?

Shares of Hut 8 Corp. (NASDAQ:HUT) gapped up before the market opened on Monday . The stock had previously closed at $91.45, but opened at $101.51. Hut 8 shares last traded at $106.4880, with a volume of 1,686,739 shares changing hands.

Analyst Upgrades and Downgrades

HUT has been the topic of a number of analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $124.00 price objective on shares of Hut 8 in a research report on Thursday, June 11th. Compass Point set a $130.00 target price on shares of Hut 8 in a research report on Wednesday, May 13th. Arete Research started coverage on shares of Hut 8 in a research note on Monday, March 23rd. They issued a “buy” rating and a $136.00 target price for the company. Loop Capital set a $226.00 price target on shares of Hut 8 in a report on Monday, June 22nd. Finally, Northland Securities set a $120.00 price objective on Hut 8 in a report on Thursday, May 7th. Seventeen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $120.37.

Hut 8 Trading Up 9.2%

The stock has a market cap of $11.24 billion, a price-to-earnings ratio of -33.42 and a beta of 4.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. The company’s fifty day moving average price is $111.24 and its 200-day moving average price is $77.35.

Hut 8 (NASDAQ:HUT) last released its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($1.65). Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%.The company had revenue of $139.31 million for the quarter, compared to analysts’ expectations of $78.53 million. On average, research analysts expect that Hut 8 Corp. will post -1.29 EPS for the current fiscal year.

Insider Activity at Hut 8

In related news, Director Joseph Flinn sold 7,719 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $117.91, for a total value of $910,147.29. Following the transaction, the director directly owned 10,519 shares of the company’s stock, valued at $1,240,295.29. This represents a 42.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Victor Semah sold 10,000 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 31,378 shares of the company’s stock, valued at $3,922,250. This trade represents a 24.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 112,724 shares of company stock valued at $12,184,340 over the last three months. 10.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Arlington Trust Co LLC increased its holdings in Hut 8 by 175.0% in the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock worth $32,000 after buying an additional 175 shares during the period. CoreCap Advisors LLC boosted its holdings in shares of Hut 8 by 42.1% in the 2nd quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock valued at $62,000 after acquiring an additional 160 shares during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Hut 8 in the 4th quarter valued at $30,000. Imprint Wealth LLC purchased a new stake in shares of Hut 8 in the 4th quarter valued at $38,000. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Hut 8 in the first quarter worth $47,000. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

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.