Hut 8 (NASDAQ:HUT) Shares Gap Up – Time to Buy?

Posted by George Bondi on Oct 28th, 2026

Shares of Hut 8 Corp. (NASDAQ:HUT – Get Free Report) gapped up prior to trading on Wednesday. The stock had previously closed at $67.34, but opened at $70.00. Hut 8 shares last traded at $66.2580, with a volume of 642,192 shares.

Wall Street Analysts Forecast Growth

HUT has been the subject of several research analyst reports. Freedom Capital raised Hut 8 to a “strong-buy” rating in a report on Tuesday, August 18th. Weiss Ratings downgraded Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. UBS Group reissued a “buy” rating on shares of Hut 8 in a research report on Thursday, October 8th. Freedom Broker raised Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Finally, Needham & Company LLC cut their target price on shares of Hut 8 from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Four analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Hut 8 has a consensus rating of “Buy” and an average price target of $148.09.

Get Our Latest Research Report on HUT

Hut 8 Trading Down 1.2%

The business has a 50-day moving average price of $85.10 and a 200 day moving average price of $82.25. The stock has a market capitalization of $8.20 billion, a P/E ratio of -12.25 and a beta of 4.62.

Hut 8 (NASDAQ:HUT – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The company had revenue of $74.93 million during the quarter, compared to the consensus estimate of $79.37 million. During the same period in the prior year, the company posted $1.18 EPS. On average, sell-side analysts predict that Hut 8 Corp. will post -2.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, 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 transaction of $507,608.20. Following the transaction, the chief financial officer owned 17,978 shares of the company’s stock, valued at approximately $1,415,947.28. The trade was a 26.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 business’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 value of $2,000,000.00. Following the transaction, the director directly owned 89,408 shares in the company, valued at approximately $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 insiders.

Hedge Funds Weigh In On Hut 8

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. GK Wealth Management LLC purchased a new position in shares of Hut 8 during the third quarter worth about $25,000. Arlington Trust Co LLC lifted its holdings in shares of 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 purchasing an additional 175 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Hut 8 by 258.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 380 shares of the company’s stock valued at $44,000 after purchasing an additional 274 shares during the period. Harbor Investment Advisory LLC acquired a new stake in shares of Hut 8 in the 1st quarter valued at about $47,000. Finally, CoreCap Advisors LLC boosted its position 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 during the period. 31.75% of the stock is owned by institutional investors and hedge funds.

About Hut 8

(Get Free Report)

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.