Hut 8 (NASDAQ:HUT) Trading Down 4.9% – Should You Sell?

Hut 8 Corp. (NASDAQ:HUT)’s share price dropped 4.9% during trading on Monday . The company traded as low as $100.88 and last traded at $104.59. Approximately 3,965,064 shares traded hands during trading, a decline of 17% from the average session volume of 4,794,250 shares. The stock had previously closed at $109.99.

Wall Street Analysts Forecast Growth

HUT has been the subject of a number of recent analyst reports. B. Riley Financial upped their target price on Hut 8 from $76.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Benchmark boosted their price target on Hut 8 from $165.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $124.00 price objective on shares of Hut 8 in a research report on Tuesday, July 21st. Compass Point set a $195.00 target price on shares of Hut 8 in a report on Wednesday, July 22nd. Finally, Cantor Fitzgerald boosted their target price on shares of Hut 8 from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Eighteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.10.

Hut 8 Trading Down 4.9%

The firm has a 50-day moving average of $111.59 and a two-hundred day moving average of $79.46. The firm has a market capitalization of $11.78 billion, a P/E ratio of -34.86 and a beta of 4.62. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12.

Hut 8 (NASDAQ:HUT) last released its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). The business had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. On average, analysts anticipate that Hut 8 Corp. will post -2.12 EPS for the current year.

Insider Activity at Hut 8

In other Hut 8 news, Director Joseph Flinn sold 7,719 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $117.91, for a total transaction of $910,147.29. Following the sale, the director owned 10,519 shares of the company’s stock, valued at approximately $1,240,295.29. The trade was a 42.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Rick Rickertsen sold 17,491 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the sale, the director directly owned 17,491 shares in the company, valued at approximately $1,924,010. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 112,724 shares of company stock valued at $12,184,340. Company insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Hut 8

Hedge funds have recently modified their holdings of the company. Millennium Management LLC increased its holdings in Hut 8 by 11.9% in the 1st quarter. Millennium Management LLC now owns 330,416 shares of the company’s stock worth $3,839,000 after purchasing an additional 35,120 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Hut 8 during the second quarter valued at about $216,000. Russell Investments Group Ltd. grew its holdings in shares of Hut 8 by 235.8% during the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after purchasing an additional 1,719 shares during the last quarter. New York State Common Retirement Fund grew its holdings in shares of Hut 8 by 19.9% during the second quarter. New York State Common Retirement Fund now owns 32,540 shares of the company’s stock worth $605,000 after purchasing an additional 5,400 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Hut 8 by 13.2% in the second quarter. Invesco Ltd. now owns 1,067,985 shares of the company’s stock valued at $19,865,000 after buying an additional 124,439 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.