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

21 Oct 2026, 15:01 by Michael Walen · The Markets Daily

Hut 8 Corp. (NASDAQ:HUT – Get Free Report) shares gapped up before the market opened on Wednesday. The stock had previously closed at $69.04, but opened at $73.20. Hut 8 shares last traded at $68.5510, with a volume of 861,541 shares changing hands.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HUT. Wall Street Zen lowered shares of Hut 8 from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Keefe, Bruyette & Woods cut their price objective on Hut 8 from $157.00 to $154.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Maxim Group upgraded Hut 8 to a “strong-buy” rating in a report on Wednesday, August 5th. Wells Fargo & Company assumed coverage on Hut 8 in a research report on Thursday, September 17th. They issued an “overweight” rating and a $175.00 target price for the company. Finally, Needham & Company LLC decreased their target price on 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 issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Hut 8 currently has a consensus rating of “Buy” and an average price target of $148.09.

View Our Latest Report on Hut 8

Hut 8 Stock Performance

The business’s 50 day simple moving average is $87.37 and its 200 day simple moving average is $94.86. The company has a current ratio of 19.35, a quick ratio of 19.35 and a debt-to-equity ratio of 4.22. The company has a market cap of $8.67 billion, a P/E ratio of -12.97 and a beta of 4.62.

Hut 8 (NASDAQ:HUT – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72). Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%. The business had revenue of $74.93 million during the quarter, compared to the consensus estimate of $79.37 million. During the same quarter last year, the firm earned $1.18 earnings per share. Sell-side analysts predict that Hut 8 Corp. will post -2.93 earnings per share for the current fiscal year.

Insider Activity at Hut 8

In other news, CFO Sean Glennan sold 6,445 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $78.76, for a total value of $507,608.20. Following the completion of the transaction, the chief financial officer directly owned 17,978 shares in the company, valued at $1,415,947.28. This trade represents a 26.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 company’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the director directly owned 89,408 shares in the company, valued at approximately $8,940,800. The trade was a 18.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Hut 8

Several institutional investors and hedge funds have recently modified their holdings of the stock. Arlington Trust Co LLC boosted its position in Hut 8 by 175.0% during the second quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock worth $32,000 after purchasing an additional 175 shares in the last quarter. GK Wealth Management LLC purchased a new stake in shares of Hut 8 in the third quarter valued at approximately $25,000. Parkside Financial Bank & Trust increased its position in shares of Hut 8 by 258.5% in the second quarter. Parkside Financial Bank & Trust now owns 380 shares of the company’s stock valued at $44,000 after buying an additional 274 shares in the last quarter. CoreCap Advisors LLC raised its stake in shares of 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 buying an additional 160 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Hut 8 by 70.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 989 shares of the company’s stock worth $85,000 after buying an additional 408 shares during the period. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Company Profile

(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.