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

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

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods reduced their price objective on Hut 8 from $157.00 to $154.00 and set an “outperform” rating for the company in a research note on Thursday, August 6th. B. Riley Financial reiterated a “buy” rating and issued a $132.00 price objective (down from $134.00) on shares of Hut 8 in a report on Friday. UBS Group restated a “buy” rating on shares of Hut 8 in a research report on Thursday, October 8th. Needham & Company LLC reduced their price target on Hut 8 from $138.00 to $101.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Rosenblatt Securities reduced their target price on shares of Hut 8 from $124.00 to $100.00 and set a “buy” rating for the company in a report on Thursday. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Hut 8 currently has a consensus rating of “Buy” and an average target price of $141.59.

Hut 8 Trading Up 14.6%

Shares of NASDAQ HUT opened at $52.65 on Friday. The company has a current ratio of 19.35, a quick ratio of 19.35 and a debt-to-equity ratio of 4.22. The stock has a 50 day moving average of $80.94 and a two-hundred day moving average of $82.18. Hut 8 has a twelve month low of $31.67 and a twelve month high of $140.80.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of ($0.72) by $1.70. Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%. The company had revenue of $71.07 million for the quarter, compared to the consensus estimate of $75.78 million. On average, research analysts expect that Hut 8 will post -2.93 EPS for the current fiscal year.

Insider Activity at Hut 8

In other Hut 8 news, Director Mayo A. Shattuck III sold 20,000 shares of the stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $100.00, for a total value of $2,000,000.00. Following the completion of the transaction, the director directly owned 89,408 shares of the company’s stock, valued at approximately $8,940,800. This trade represents a 18.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Sean Glennan sold 6,445 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $78.76, for a total value of $507,608.20. Following the completion of the transaction, the chief financial officer directly owned 17,978 shares of the company’s stock, valued at $1,415,947.28. This trade represents a 26.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 10.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board purchased a new position in shares of Hut 8 during the 2nd quarter valued at $45,301,000. Dimensional Fund Advisors LP grew its position in shares of Hut 8 by 11.1% during the first quarter. Dimensional Fund Advisors LP now owns 207,619 shares of the company’s stock worth $9,717,000 after acquiring an additional 20,813 shares during the last quarter. Signal Advisors Wealth LLC acquired a new position in Hut 8 in the third quarter worth approximately $2,378,000. Dayah Capital LLC increased its holdings in Hut 8 by 12.6% during the 1st quarter. Dayah Capital LLC now owns 217,920 shares of the company’s stock valued at $10,223,000 after purchasing an additional 24,456 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Hut 8 in the first quarter valued at approximately $4,358,000. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Hut 8

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Investors are increasingly valuing crypto miners for their AI data-center potential, lifting the sector even as Bitcoin was flat; Hut 8 was among the gainers. Article: Riot Platforms Jumps as AI Data Center Bets Lift Bitcoin Miners
• Positive Sentiment: Hut 8’s Q3 call highlighted its AI growth plans, including $27 billion in data-center leases, $7.5 billion in project financing and plans to expand power capacity. The company also expects 700 megawatts at Beacon Point in Q1 2027 on a path toward a full gigawatt. Article: HUT Q3 Earnings Call Focuses on AI Expansion and Project Financing Article: Hut 8 Anticipates Beacon Point Energization and Expands Buyback
• Neutral Sentiment: B. Riley reaffirmed its Buy rating with a $132 target, trimmed slightly from $134. Wells Fargo, Needham and Cantor Fitzgerald also retained positive ratings despite lowering their targets. B. Riley Recommendations
• Negative Sentiment: Hut 8’s Q3 earnings missed estimates, and several firms cut price targets: Wells Fargo to $148, Needham to $101 and Cantor Fitzgerald to $127. The cuts may temper enthusiasm, though the firms maintained Overweight or Buy ratings. Cantor Fitzgerald Target Cut Wells Fargo Target Cut Needham Target Cut

Hut 8 Company Profile

Hut 8 Corp. is a North American energy infrastructure and computing company whose business includes digital asset mining, high-performance computing and data center operations. The company develops and manages power and infrastructure assets intended to support energy-intensive computing applications.

Hut 8’s activities have historically centered on Bitcoin mining, supported by company-operated data centers and specialized mining equipment. It also provides infrastructure for emerging computing applications, including artificial intelligence and other high-performance computing workloads, as it seeks to expand beyond cryptocurrency mining.

The company was established in Canada and expanded its operations in the United States through its combination with U.S.