Hut 8 (HUT) Stock Price, News & Analysis

Company Overview

Hut 8 Corp., together with its subsidiaries, acquires, builds, manages, and operates data centers for digital assets mining, computing, and artificial intelligence in the United States. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other. The company mines Bitcoin. It also offers managed services for energy infrastructure development, such as site design, procurement, and construction management; software automation, process design, personnel hiring, and team training; utilities contracts, hosting operations, and customer management; energy portfolio optimization and strategic initiatives; and finance, accounting, and safety services for digital asset mining site owners, governments, and data center developers. In addition, the company provides colocation, cloud, and connectivity services; hosting services, which include the provision of mining equipment and space, as well as monitors, troubleshoots, repairs, and maintains customer mining equipment; and equipment sales and repair services. Hut 8 Corp. was founded in 2017 and is based in Miami, Florida.

Key Stats

• Today's Range: $22.81 to $24.44
• 50-Day Range: $11.77 to $30.24
• 52-Week Range: $6.18 to $31.95
• Volume: 7.33 million shs
• Average Volume: 5.43 million shs
• Market Capitalization: $2.22 billion
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $31.88
• Consensus Rating: Buy

Hut 8 Stock Analysis - MarketRank™

Hut 8 scored higher than 72% of companies evaluated by MarketBeat, and ranked 384th out of 935 stocks in the finance sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 4.5 / 5
• Analyst Rating: Buy

Consensus Rating

Hut 8 has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 8 buy ratings, no hold ratings, and no sell ratings.

Amount of Analyst Coverage

Hut 8 has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for Hut 8 are expected to grow in the coming year, from ($0.53) to $0.33 per share.

Price to Book Value per Share Ratio

Hut 8 has a P/B Ratio of 4.32. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 4.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

8.58% of the float of Hut 8 has been sold short.

Short Interest Ratio / Days to Cover

Hut 8 has a short interest ratio ("days to cover") of 1.2, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Hut 8 has recently decreased by 18.23%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

Hut 8 does not currently pay a dividend.

Dividend Growth

Hut 8 does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

8.58% of the float of Hut 8 has been sold short.

Short Interest Ratio / Days to Cover

Hut 8 has a short interest ratio ("days to cover") of 1.2, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Hut 8 has recently decreased by 18.23%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 3.0 / 5
• News Sentiment: 0.36

News Sentiment

Hut 8 has a news sentiment score of 0.36. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.77 average news sentiment score of Finance companies.

News Coverage This Week

MarketBeat has tracked 16 news articles for Hut 8 this week, compared to 8 articles on an average week.

Search Interest

33 people have searched for HUT on MarketBeat in the last 30 days. This is an increase of 3% compared to the previous 30 days.

MarketBeat Follows

40 people have added Hut 8 to their MarketBeat watchlist in the last 30 days. This is an increase of 186% compared to the previous 30 days.

Company Ownership

• Score: 0.8 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Hut 8 insiders have not sold or bought any company stock.

Percentage Held by Insiders

12.00% of the stock of Hut 8 is held by insiders. A high percentage of insider ownership can be a sign of company health.

Percentage Held by Institutions

Only 31.75% of the stock of Hut 8 is held by institutions.

HUT Stock Analysis - Frequently Asked Questions

How have HUT shares performed this year?

Hut 8's stock was trading at $13.34 at the start of the year. Since then, HUT shares have increased by 77.5% and is now trading at $23.68.
View the best growth stocks for 2024 here.

How were Hut 8's earnings last quarter?

Hut 8 Corp. (NASDAQ:HUT) announced its quarterly earnings results on Monday, August, 14th. The company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by $0.01. The firm had revenue of $14.28 million for the quarter, compared to analysts' expectations of $15.98 million.

Who are Hut 8's major shareholders?

Top institutional shareholders of Hut 8 include State Street Corp (3.01%), JAT Capital Mgmt LP (2.89%), Geode Capital Management LLC (2.41%) and Tidal Investments LLC (1.48%). Insiders that own company stock include Jaime Leverton, Shenif Visram, Aniss Amdiss and Joseph Flinn.
View institutional ownership trends.

How do I buy shares of Hut 8?

Shares of HUT stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Hut 8 own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Hut 8 investors own include Meta Platforms (META), NVIDIA (NVDA), Tesla (TSLA), Advanced Micro Devices (AMD), MARA (MARA), Intel (INTC) and Netflix (NFLX).

Company Calendar

• Last Earnings: 8/14/2023
• Today: 12/21/2024
• Fiscal Year End: 12/31/2024

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Finance
• Industry: Nondepository credit institutions
• Sub-Industry: Banking
• Current Symbol: NASDAQ:HUT
• CUSIP: N/A
• CIK: 1731805
• Web: hut8mining.com
• Phone: (647) 256-1992
• Fax: N/A
• Employees: 219
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $31.88
• High Stock Price Target: $38.00
• Low Stock Price Target: $18.00
• Potential Upside/Downside: +34.6%
• Consensus Rating: Buy
• Rating Score (0-4): 3.00
• Research Coverage: 8 Analysts

Profitability

• EPS (Most Recent Fiscal Year): N/A
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: N/A
• Net Margins: N/A
• Pretax Margin: N/A
• Return on Equity: N/A
• Return on Assets: N/A

Debt

• Debt-to-Equity Ratio: 0.35
• Current Ratio: 1.00
• Quick Ratio: 1.00

Sales & Book Value

• Annual Sales: $73.90 million
• Price / Sales: 29.99
• Cash Flow: $0.02 per share
• Price / Cash Flow: 985.17
• Book Value: $5.48 per share
• Price / Book: 4.32

Miscellaneous

• Outstanding Shares: 93,581,000
• Free Float: 82,351,000
• Market Cap: $2.22 billion
• Optionable: Optionable
• Beta: 4.25