Hut 8 (NASDAQ:HUT) Upgraded at Wall Street Zen

Hut 8 (NASDAQ:HUT) was upgraded by stock analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report released on Saturday, Wall Street Zen reports.

Several other equities analysts also recently issued reports on HUT. Weiss Ratings downgraded shares of Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 19th. Maxim Group upgraded shares of Hut 8 to a “strong-buy” rating in a report on Wednesday, August 5th. Canaccord Genuity Group restated a “buy” rating and set a $130.00 price target on shares of Hut 8 in a research report on Wednesday, October 7th. Keefe, Bruyette & Woods decreased their target price on shares of Hut 8 from $157.00 to $154.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Finally, Freedom Capital upgraded shares of Hut 8 to a “strong-buy” rating in a report on Tuesday, August 18th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Hut 8 presently has an average rating of “Buy” and a consensus target price of $141.59.

Hut 8 Stock Up 14.6%

Hut 8 stock opened at $52.65 on Friday. The company has a 50-day moving average price of $80.94 and a 200 day moving average price of $82.18. Hut 8 has a 12-month low of $31.67 and a 12-month high of $140.80. The company has a debt-to-equity ratio of 4.22, a quick ratio of 19.35 and a current ratio of 19.35.

Hut 8 (NASDAQ:HUT) last issued its earnings results on Wednesday, November 4th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of ($0.72) by $1.70. Hut 8 had a negative net margin of 188.59% and a negative return on equity of 0.97%. The company had revenue of $71.07 million for the quarter, compared to analyst estimates of $75.78 million. As a group, analysts expect that Hut 8 will post -2.93 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Hut 8

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in Hut 8 by 43.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 93,341 shares of the company’s stock valued at $8,037,000 after buying an additional 28,102 shares during the period. R Squared Ltd grew its position in Hut 8 by 13.1% in the third quarter. R Squared Ltd now owns 3,256 shares of the company’s stock worth $280,000 after buying an additional 377 shares during the last quarter. Fulcrum Asset Management LLP bought a new position in Hut 8 during the third quarter valued at about $1,506,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Hut 8 by 56.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 77,689 shares of the company’s stock valued at $6,709,000 after purchasing an additional 27,898 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in shares of Hut 8 by 6.3% in the third quarter. Pictet Asset Management Holding SA now owns 18,392 shares of the company’s stock worth $1,584,000 after purchasing an additional 1,085 shares in the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Key Stories Impacting Hut 8

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

• Positive Sentiment: Investors are increasingly valuing crypto miners for their AI data-center potential, lifting the sector even as Bitcoin was flat; Hut 8 was among the gainers. Article: Riot Platforms Jumps as AI Data Center Bets Lift Bitcoin Miners
• Positive Sentiment: Hut 8’s Q3 call highlighted its AI growth plans, including $27 billion in data-center leases, $7.5 billion in project financing and plans to expand power capacity. The company also expects 700 megawatts at Beacon Point in Q1 2027 on a path toward a full gigawatt. Article: HUT Q3 Earnings Call Focuses on AI Expansion and Project Financing Article: Hut 8 Anticipates Beacon Point Energization and Expands Buyback
• Neutral Sentiment: B. Riley reaffirmed its Buy rating with a $132 target, trimmed slightly from $134. Wells Fargo, Needham and Cantor Fitzgerald also retained positive ratings despite lowering their targets. B. Riley Recommendations
• Negative Sentiment: Hut 8’s Q3 earnings missed estimates, and several firms cut price targets: Wells Fargo to $148, Needham to $101 and Cantor Fitzgerald to $127. The cuts may temper enthusiasm, though the firms maintained Overweight or Buy ratings. Cantor Fitzgerald Target Cut Wells Fargo Target Cut Needham Target Cut

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.