Hut 8 (NASDAQ:HUT) Shares Gap Up – Should You Buy?

Hut 8 Corp. (NASDAQ:HUT) gapped up before the market opened on Monday . The stock had previously closed at $97.14, but opened at $103.48. Hut 8 shares last traded at $107.09, with a volume of 994,110 shares.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and set a $124.00 price target on shares of Hut 8 in a report on Thursday, June 11th. Weiss Ratings lowered shares of Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Compass Point set a $130.00 target price on shares of Hut 8 in a research note on Wednesday, May 13th. B. Riley Financial increased their price target on shares of Hut 8 from $76.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, Jefferies Financial Group started coverage on shares of Hut 8 in a research report on Thursday, May 14th. They issued a “buy” rating and a $156.00 price target on the stock. Seventeen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Hut 8 presently has an average rating of “Moderate Buy” and an average price target of $115.79.

Hut 8 Stock Down 6.8%

The firm has a market capitalization of $10.89 billion, a price-to-earnings ratio of -32.25 and a beta of 4.62. The business has a 50 day moving average of $108.94 and a 200 day moving average of $74.47. 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 (NASDAQ:HUT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The business had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. On average, equities analysts anticipate that Hut 8 Corp. will post -1.29 EPS for the current year.

Insider Buying and Selling at Hut 8

In related news, Director Joseph Flinn sold 30,500 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $116.21, for a total value of $3,544,405.00. Following the completion of the transaction, the director owned 18,238 shares of the company’s stock, valued at $2,119,437.98. This represents a 62.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Amy Marie Wilkinson sold 20,000 shares of Hut 8 stock in a transaction that occurred on 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 sale, the director directly owned 262,136 shares in the company, valued at $26,418,066.08. The trade was a 7.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 112,724 shares of company stock worth $12,184,340. 10.40% of the stock is currently owned by company insiders.

Institutional Trading of Hut 8

Several institutional investors have recently bought and sold shares of the stock. CoreCap Advisors LLC boosted its stake in shares of Hut 8 by 42.1% in the 2nd quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock valued at $62,000 after purchasing an additional 160 shares in the last quarter. Arlington Trust Co LLC lifted its holdings in Hut 8 by 175.0% during the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock valued at $32,000 after purchasing an additional 175 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Hut 8 by 1.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock valued at $734,000 after purchasing an additional 254 shares during the last quarter. GAMMA Investing LLC boosted its position in Hut 8 by 35.0% in the second quarter. GAMMA Investing LLC now owns 1,057 shares of the company’s stock valued at $122,000 after buying an additional 274 shares in the last quarter. Finally, CWM LLC boosted its position in Hut 8 by 37.4% in the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock valued at $51,000 after buying an additional 301 shares in the last quarter. Institutional investors and hedge funds 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.