Hut 8 (NASDAQ:HUT) Trading Down 2.3% After Analyst Downgrade

Shares of Hut 8 Corp. (NASDAQ:HUT) dropped 2.3% on Friday after Keefe, Bruyette & Woods lowered their price target on the stock from $157.00 to $154.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Hut 8 traded as low as $85.05 and last traded at $88.59. Approximately 6,813,723 shares changed hands during mid-day trading, an increase of 41% from the average daily volume of 4,819,493 shares. The stock had previously closed at $90.65.

Several other analysts have also recently issued reports on the company. Cantor Fitzgerald increased their target price on Hut 8 from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Canaccord Genuity Group raised their price target on shares of Hut 8 from $70.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Citigroup reissued an “outperform” rating on shares of Hut 8 in a research report on Tuesday, April 28th. Compass Point set a $195.00 target price on Hut 8 in a research note on Wednesday, July 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $124.00 price target on shares of Hut 8 in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $139.15.

Insiders Place Their Bets

In other Hut 8 news, Director Rick Rickertsen sold 17,491 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the transaction, the director directly owned 17,491 shares of the company’s stock, valued at $1,924,010. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Victor Semah sold 10,000 shares of Hut 8 stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. Following the completion of the sale, the insider owned 31,378 shares in the company, valued at approximately $3,922,250. The trade was a 24.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 102,206 shares of company stock valued at $11,376,242 over the last ninety days. 10.40% of the stock is owned by corporate insiders.

Trending Headlines about Hut 8

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

• Positive Sentiment: Analyst support remains strong: Maxim Group upgraded Hut 8 to “Strong Buy,” while Rosenblatt Securities assigned a “Buy” rating. Maxim’s bullish rating suggests some analysts view the recent weakness as an opportunity. Hut 8 Earns Buy Rating from Rosenblatt Securities
• Positive Sentiment: AI infrastructure pivot provides a potential growth catalyst: Investors have shown interest in Hut 8’s move toward AI data-center infrastructure, which could diversify the company beyond cryptocurrency mining and support longer-term revenue growth. Why Hut 8 Is Up After Pivoting Toward AI Data Center Infrastructure
• Neutral Sentiment: Options activity indicates elevated trading interest: Traders purchased a high volume of Hut 8 call options, reflecting bullish speculation but also highlighting the stock’s volatility rather than a fundamental improvement in results. Stock Traders Purchase High Volume of Call Options on Hut 8
• Negative Sentiment: The latest earnings miss weighed on the stock: Hut 8 reported a quarterly loss of $1.27 per share versus the $0.55 loss analysts expected, while revenue of $72.66 million also fell short of the $79.37 million consensus. The results reinforced concerns about near-term profitability. Hut 8 Trading Down After Earnings Miss
• Negative Sentiment: Forecast revisions point to deeper losses: Northland Securities cut its 2026 EPS forecast to a $3.37 loss from a $0.68 loss, reducing quarterly estimates as well. Maxim Group likewise projects substantial losses through 2027 and 2028, including a $15.13 loss per share for 2027 and a $28.33 loss for 2028.
• Negative Sentiment: Price-target reductions add pressure: Needham lowered its target to $138, and Keefe, Bruyette & Woods reduced its target to $154. Although both targets imply significant upside and KBW maintained an “Outperform” rating, the cuts signal reduced near-term expectations. Needham Lowers Hut 8 Price Target

Hedge Funds Weigh In On Hut 8

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Hut 8 in the 2nd quarter worth approximately $1,093,294,000. Deutsche Bank AG purchased a new stake in shares of Hut 8 in the second quarter valued at approximately $13,262,000. Perigon Wealth Management LLC acquired a new stake in shares of Hut 8 in the second quarter valued at approximately $5,220,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Hut 8 during the second quarter worth approximately $2,700,000. Finally, Global Retirement Partners LLC acquired a new position in Hut 8 during the second quarter worth $562,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Price Performance

The company has a debt-to-equity ratio of 4.22, a current ratio of 19.35 and a quick ratio of 0.86. The stock has a 50 day simple moving average of $110.57 and a two-hundred day simple moving average of $82.09. The company has a market cap of $10.92 billion, a price-to-earnings ratio of -16.26 and a beta of 4.64.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The company had revenue of $72.66 million for the quarter, compared to analysts’ expectations of $79.37 million. Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%.During the same quarter in the prior year, the firm earned $1.18 EPS. On average, equities research analysts predict that Hut 8 Corp. will post -2.16 earnings per share for the current fiscal year.

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.