Hut 8 (NASDAQ:HUT) Stock Rating Lowered by Wall Street Zen

Hut 8 (NASDAQ:HUT) was downgraded by equities researchers at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued on Saturday.

Several other research analysts also recently weighed in on the company. Compass Point set a $195.00 price target on Hut 8 in a research note on Wednesday, July 22nd. Benchmark boosted their price objective on Hut 8 from $165.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Northland Securities set a $120.00 price objective on shares of Hut 8 in a report on Thursday, May 7th. Loop Capital set a $226.00 target price on shares of Hut 8 in a research report on Monday, June 22nd. Finally, Weiss Ratings downgraded shares of Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Eighteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Hut 8 has an average rating of “Moderate Buy” and a consensus target price of $137.20.

Hut 8 Stock Performance

NASDAQ:HUT opened at $107.63 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $12.12 billion, a PE ratio of -35.88 and a beta of 4.64. The firm’s 50 day moving average is $111.84 and its 200 day moving average is $80.97. Hut 8 has a 12 month low of $18.68 and a 12 month high of $140.80.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing the consensus estimate of ($0.33) by ($1.65). Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. The firm had revenue of $139.31 million during the quarter, compared to analysts’ expectations of $78.53 million. Sell-side analysts expect that Hut 8 will post -2.52 earnings per share for the current year.

Insiders Place Their Bets

In other Hut 8 news, insider Victor Semah sold 10,000 shares of Hut 8 stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the insider owned 31,378 shares of the company’s stock, valued at $3,922,250. The trade was a 24.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amy Marie Wilkinson sold 20,000 shares of Hut 8 stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $100.78, for a total value of $2,015,600.00. Following the sale, the director directly owned 262,136 shares of the company’s stock, valued at approximately $26,418,066.08. This trade represents a 7.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 102,206 shares of company stock worth $11,376,242. 10.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hut 8

Large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Hut 8 by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock worth $366,526,000 after buying an additional 250,320 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Hut 8 by 4,669,387.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after acquiring an additional 4,062,367 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Hut 8 by 20.3% during the third quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock worth $104,133,000 after acquiring an additional 504,652 shares in the last quarter. SRS Investment Management LLC bought a new stake in shares of Hut 8 in the 4th quarter worth approximately $131,838,000. Finally, Sachem Head Capital Management LP bought a new stake in shares of Hut 8 in the 4th quarter worth approximately $129,780,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

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.