Hut 8 (NASDAQ:HUT) Stock Keeps Buy Rating at B. Riley Financial

Hut 8 (NASDAQ:HUT)‘s stock had its “buy” rating reissued by research analysts at B. Riley Financial in a research note issued to investors on Friday, Benzinga reports. They currently have a $132.00 target price on the stock, down from their prior target price of $134.00. B. Riley Financial‘s price objective suggests a potential upside of 169.69% from the company’s previous close.

A number of other research analysts have also recently commented on HUT. UBS Group restated a “buy” rating on shares of Hut 8 in a research note on Thursday, October 8th. Piper Sandler dropped their price target on Hut 8 from $143.00 to $123.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 20th. Needham & Company LLC reduced their price target on Hut 8 from $138.00 to $101.00 and set a “buy” rating on the stock in a research note on Thursday. Maxim Group upgraded Hut 8 to a “strong-buy” rating in a report on Wednesday, August 5th. Finally, Freedom Broker upgraded Hut 8 to a “strong-buy” rating in a report on Tuesday, August 18th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Hut 8 has a consensus rating of “Buy” and an average price target of $141.59.

Hut 8 Stock Up 6.5%

HUT traded up $3.00 on Friday, hitting $48.95. The company had a trading volume of 3,121,408 shares, compared to its average volume of 5,038,455. The company has a debt-to-equity ratio of 4.22, a current ratio of 19.35 and a quick ratio of 19.35. Hut 8 has a 52-week low of $31.67 and a 52-week high of $140.80. The stock has a fifty day simple moving average of $81.63 and a 200-day simple moving average of $82.21. The firm has a market capitalization of $6.03 billion, a P/E ratio of -9.85 and a beta of 4.53.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of ($0.72) by $1.70. Hut 8 had a negative return on equity of 9.99% and a negative net margin of 169.76%. The business had revenue of $71.07 million for the quarter, compared to analysts’ expectations of $75.78 million. As a group, equities analysts expect that Hut 8 will post -2.93 EPS for the current fiscal year.

Insider Transactions at Hut 8

In other Hut 8 news, CFO Sean Glennan sold 6,445 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $78.76, for a total value of $507,608.20. Following the sale, the chief financial officer owned 17,978 shares in the company, valued at approximately $1,415,947.28. This represents a 26.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mayo Shattuck, III sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the transaction, the director directly owned 89,408 shares of the company’s stock, valued at $8,940,800. This represents a 18.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Hut 8

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GK Wealth Management LLC purchased a new position in Hut 8 during the third quarter valued at $25,000. Arlington Trust Co LLC boosted its holdings in Hut 8 by 175.0% in the second quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock worth $32,000 after acquiring an additional 175 shares in the last quarter. Heritage Family Offices LLP purchased a new stake in shares of Hut 8 in the third quarter worth $35,000. Parkside Financial Bank & Trust grew its stake in shares of Hut 8 by 258.5% in the second quarter. Parkside Financial Bank & Trust now owns 380 shares of the company’s stock worth $44,000 after acquiring an additional 274 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Hut 8 in the third quarter worth $50,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 News Summary

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

• Positive Sentiment: Management highlighted $27 billion in AI data-center leases, $7.5 billion in project financing and plans to bring 700 megawatts of power online at Beacon Point in Q1 2027. These commitments reinforce Hut 8’s push beyond Bitcoin mining into data-center infrastructure. HUT Q3 Earnings Call Focuses on AI Expansion and Project Financing
• Positive Sentiment: The company expanded its share-repurchase authorization to $1 billion, a potential source of shareholder support. Hut 8 expands buyback authorization
• Neutral Sentiment: Hut 8 sold 3,102 bitcoin to fund a $250 million share repurchase. Buybacks can support per-share value, but the sale also reduces the company’s Bitcoin holdings; one report said the market reacted negatively to the move. Hut 8 sold bitcoin to buy back stock
• Negative Sentiment: Hut 8’s Q3 results missed estimates, adding pressure despite its longer-term expansion plans. HUT Q3 earnings call and results
• Negative Sentiment: Cantor Fitzgerald, Wells Fargo and Needham cut their price targets to $127, $148 and $101, respectively. However, they retained positive ratings—overweight at Cantor and Wells Fargo, and buy at Needham—so the revisions temper, rather than eliminate, their optimism. Cantor Fitzgerald lowers Hut 8 price target

About Hut 8

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.