Hut 8 (NASDAQ:HUT) Upgraded at Maxim Group

Hut 8 (NASDAQ:HUT) was upgraded by equities research analysts at Maxim Group to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

HUT has been the topic of several other research reports. Citizens Jmp raised their target price on shares of Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a report on Thursday, May 7th. Needham & Company LLC lowered their price target on shares of Hut 8 from $145.00 to $138.00 and set a “buy” rating for the company in a report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on shares of Hut 8 from $138.00 to $157.00 and gave the company an “outperform” rating in a research report on Tuesday, July 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $124.00 price objective on shares of Hut 8 in a research report on Wednesday. Finally, Morgan Stanley initiated coverage on Hut 8 in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $263.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $138.50.

Hut 8 Trading Down 8.3%

Shares of HUT stock opened at $92.76 on Wednesday. The business has a 50-day moving average of $111.24 and a 200 day moving average of $81.88. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. Hut 8 has a 1-year low of $18.68 and a 1-year high of $140.80. The stock has a market capitalization of $10.44 billion, a PE ratio of -17.02 and a beta of 4.64.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72). Hut 8 had a negative return on equity of 0.98% and a negative net margin of 188.59%.The company had revenue of $72.66 million during the quarter, compared to analysts’ expectations of $79.37 million. During the same period last year, the firm earned $1.18 earnings per share. As a group, sell-side analysts anticipate that Hut 8 will post -2.54 earnings per share for the current year.

Insider Buying and Selling

In other Hut 8 news, insider Victor Semah sold 10,000 shares of Hut 8 stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following the completion of the transaction, the insider directly owned 31,378 shares of the company’s stock, valued at approximately $3,922,250. The trade was a 24.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Flinn sold 30,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the sale, the director directly owned 18,238 shares of the company’s stock, valued at $2,119,437.98. This trade represents a 62.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 102,206 shares of company stock valued at $11,376,242 over the last ninety days. Insiders own 10.40% of the company’s stock.

Institutional Trading of Hut 8

A number of institutional investors and hedge funds have recently modified their holdings of HUT. CoreCap Advisors LLC grew its stake in shares of Hut 8 by 42.1% during the 2nd quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock valued at $62,000 after acquiring an additional 160 shares during the period. Arlington Trust Co LLC raised its stake in Hut 8 by 175.0% during the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock worth $32,000 after acquiring an additional 175 shares during the period. GAMMA Investing LLC lifted its holdings in Hut 8 by 35.0% during the second quarter. GAMMA Investing LLC now owns 1,057 shares of the company’s stock valued at $122,000 after purchasing an additional 274 shares in the last quarter. CWM LLC lifted its holdings in Hut 8 by 37.4% during the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock valued at $51,000 after purchasing an additional 301 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Hut 8 by 1.7% in the fourth 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 period. Institutional investors 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.