Hut 8 (NASDAQ:HUT) Stock Price Down 7.8% – Here’s What Happened

Hut 8 Corp. (NASDAQ:HUT)’s stock price fell 7.8% during trading on Thursday . The company traded as low as $121.44 and last traded at $121.0810. 1,013,991 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 4,941,530 shares. The stock had previously closed at $131.29.

Wall Street Analysts Forecast Growth

HUT has been the subject of a number of recent analyst reports. B. Riley Financial lifted their price target on shares of Hut 8 from $76.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Arete Research initiated coverage on shares of Hut 8 in a research note on Monday, March 23rd. They set a “buy” rating and a $136.00 price target for the company. Cantor Fitzgerald lifted their price target on shares of Hut 8 from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. HC Wainwright reiterated a “buy” rating and set a $80.00 price objective on shares of Hut 8 in a report on Thursday, February 26th. Finally, Jefferies Financial Group initiated coverage on shares of Hut 8 in a report on Thursday, May 14th. They set a “buy” rating and a $156.00 price objective for the company. Seventeen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hut 8 has a consensus rating of “Moderate Buy” and a consensus price target of $107.72.

Hut 8 Stock Down 2.2%

The business’s fifty day moving average is $83.52 and its two-hundred day moving average is $61.89. The company has a market cap of $14.46 billion, a P/E ratio of -42.90 and a beta of 4.61. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $139.31 million for the quarter, compared to the consensus estimate of $78.53 million. Equities analysts predict that Hut 8 Corp. will post -1.29 EPS for the current year.

Insider Buying and Selling at Hut 8

In other news, Director Amy Marie Wilkinson sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $100.78, for a total value of $2,015,600.00. Following the completion of the sale, the director owned 262,136 shares in the company, valued at approximately $26,418,066.08. The trade was a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sean Joseph Glennan sold 4,625 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total transaction of $226,856.25. Following the completion of the sale, the chief financial officer owned 12,068 shares of the company’s stock, valued at approximately $591,935.40. This represents a 27.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 74,628 shares of company stock worth $6,976,321. 10.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Hut 8

Large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its position in Hut 8 by 1.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock worth $734,000 after purchasing an additional 254 shares during the last quarter. CWM LLC grew its position in Hut 8 by 37.4% during the 4th quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after purchasing an additional 301 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Hut 8 by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock worth $331,000 after purchasing an additional 321 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Hut 8 by 1.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock worth $996,000 after purchasing an additional 362 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Hut 8 by 4.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company’s stock worth $413,000 after purchasing an additional 388 shares during the last quarter. Institutional investors 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.