Hut 8 (NASDAQ:HUT) Shares Up 22.8% – Still a Buy?

Posted by Stanley Muller on Aug 1st, 2026

Hut 8 Corp. (NASDAQ:HUT – Get Free Report) shot up 22.8% during trading on Thursday . The stock traded as high as $108.73 and last traded at $108.27. 5,480,548 shares traded hands during trading, an increase of 14% from the average session volume of 4,819,117 shares. The stock had previously closed at $88.18.

Analyst Ratings Changes

A number of brokerages have weighed in on HUT. Jefferies Financial Group began coverage on Hut 8 in a report on Thursday, May 14th. They issued a “buy” rating and a $156.00 target price for the company. Morgan Stanley started coverage on shares of Hut 8 in a research report on Thursday, July 23rd. They set an “overweight” rating and a $263.00 price objective for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $124.00 price objective on shares of Hut 8 in a research note on Tuesday, July 21st. Cantor Fitzgerald boosted their target price on shares of Hut 8 from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Finally, Citizens Jmp increased their target price on shares of Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 7th. Eighteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $137.20.

Get Our Latest Stock Report on Hut 8

Hut 8 Trading Down 0.6%

The business has a 50 day moving average of $111.84 and a two-hundred day moving average of $80.83. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $12.12 billion, a price-to-earnings ratio of -35.88 and a beta of 4.62.

Hut 8 (NASDAQ:HUT – Get Free Report) 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). Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%.The firm had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. Equities analysts predict that Hut 8 Corp. will post -2.52 EPS for the current year.

Insider Transactions at Hut 8

In other Hut 8 news, Director Rick Rickertsen sold 17,491 shares of the business’s 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 completion of the sale, the director owned 17,491 shares in the company, valued at approximately $1,924,010. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph Flinn sold 30,500 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the transaction, the director owned 18,238 shares in the company, valued at approximately $2,119,437.98. The trade was 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 112,724 shares of company stock valued at $12,184,340 in the last 90 days. 10.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Hut 8

Hedge funds and other institutional investors have recently made changes to their positions in the business. Arlington Trust Co LLC lifted its position in Hut 8 by 175.0% in the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock valued at $32,000 after acquiring an additional 175 shares in the last quarter. CoreCap Advisors LLC increased its holdings in Hut 8 by 42.1% during the 2nd quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock worth $62,000 after purchasing an additional 160 shares in the last quarter. Imprint Wealth LLC purchased a new stake in shares of Hut 8 in the fourth quarter worth approximately $38,000. Harbor Investment Advisory LLC purchased a new stake in shares of Hut 8 in the first quarter worth approximately $47,000. Finally, GAMMA Investing LLC lifted its holdings in shares of 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 purchasing an additional 274 shares in the last quarter. 31.75% of the stock is owned by institutional investors.

About Hut 8

(Get Free Report)

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.