Hut 8 (NASDAQ:HUT) Lowered to “Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Hut 8 (NASDAQ:HUT) from a hold rating to a sell rating in a research report report published on Friday morning.

HUT has been the subject of a number of other reports. Piper Sandler reaffirmed an “overweight” rating on shares of Hut 8 in a research note on Thursday, December 18th. Weiss Ratings restated a “hold (c-)” rating on shares of Hut 8 in a research report on Monday, December 29th. Citigroup reiterated an “outperform” rating on shares of Hut 8 in a report on Tuesday, October 21st. JMP Securities increased their price target on shares of Hut 8 from $25.00 to $65.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 21st. Finally, B. Riley lifted their price target on shares of Hut 8 from $61.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $56.76.

Hut 8 Stock Up 5.6%

Shares of NASDAQ HUT opened at $58.22 on Friday. The stock has a market cap of $6.29 billion, a PE ratio of -149.28 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 $62.91. The company has a 50-day moving average of $47.83 and a 200 day moving average of $37.95.

Hut 8 (NASDAQ:HUT) last issued its earnings results on Tuesday, November 4th. The company reported ($0.07) earnings per share for the quarter, topping 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 business had revenue of $80.72 million for the quarter, compared to analysts’ expectations of $64.70 million. As a group, sell-side analysts predict that Hut 8 will post -0.53 EPS for the current fiscal year.

Institutional Trading of Hut 8

Several institutional investors have recently added to or reduced their stakes in HUT. Ameriprise Financial Inc. boosted its position in shares of Hut 8 by 1,043.0% during the second quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company’s stock worth $46,255,000 after buying an additional 2,269,237 shares during the period. Value Aligned Research Advisors LLC boosted its holdings in Hut 8 by 110.2% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company’s stock valued at $67,845,000 after acquiring an additional 1,021,955 shares during the period. Voloridge Investment Management LLC purchased a new position in Hut 8 during the 3rd quarter valued at about $35,044,000. Nishkama Capital LLC acquired a new position in Hut 8 in the 3rd quarter valued at about $28,137,000. Finally, Thames Capital Management LLC purchased a new stake in Hut 8 during the third quarter worth about $25,084,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

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.