Hut 8 Corp. (HUT) Stock Price & Analysis
Hut 8 Corp. (HUT) closed at USD 63.97 on Thursday, October 22, 2026, down 10.63% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 71.58; the Oct 22, 2026 session ranged USD 63.59–69.77 on volume of 4,719,492 shares. Market capitalization is $7.88B, with a 52-week range of USD 31.67–140.8 (NMS). Source: Nexqual, retrieved October 23, 2026 at 08:39 UTC.
Also available as compact Markdown for AI agents: nexqual.com/HUT.md
Key facts (HUT)
- Last four reported quarters (through Jun 30, 2026): revenue $318M, net income -$600M (-188.6% margin) (SEC filings).
- 2 of 80 tracked superinvestors hold HUT (13F, Q2 2026): 0 new, 1 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 7 Form 4 filings, $14.7M; 3 not under a Rule 10b5-1 plan ($6.9M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.78 on a 1–5 scale) (23 analysts), mean target USD 151.91 (range 96–275).
- Total return with dividends: 1Y +57.4% vs S&P 500 +14.9%; 5Y +14.7% vs S&P 500 +80.3%.
- Next earnings: 2026-11-04, EPS estimate USD -1.21, revenue estimate $77.1M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (HUT)
| USD | FY2022 | FY2023 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $73.7M | $82.2M | $96.0M | $162M | $235M | $318M |
| Gross profit | $47.9M | $39.0M | $41.9M | $75.7M | $127M | — |
| Operating income | -$19.8M | -$68.7M | $9.4M | $461M | -$322M | -$939M |
| Net income | -$31.8M | -$65.6M | $21.9M | $332M | -$226M | -$600M |
| EPS (diluted) | -$0.94 | -$1.58 | $0.44 | $3.40 | -$2.14 | — |
| Gross margin | 65.0% | 47.5% | 43.6% | 46.6% | 54.2% | — |
| Operating margin | -26.9% | -83.6% | 9.8% | 283.6% | -136.9% | -295.3% |
| Net margin | -43.1% | -79.9% | 22.7% | 204.4% | -96.2% | -188.6% |
| Revenue growth | — | +11.4% | — | +69.1% | +44.8% | — |
| Cash + short-term investments | $21.1M | $10.4M | $30.5M | $85.0M | $44.9M | — |
| Total debt | $128M | $151M | $187M | $301M | — | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (HUT)
P/S 24.8x · P/B 5.5x · Earnings yield -7.60%
P/E at fiscal year-ends: Dec 2024 6.2x, Dec 2023 30.0x.
Superinvestors (SEC 13F-HR, Q2 2026) (HUT)
2 of 80 tracked investors hold HUT. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Stephen Mandel | Lone Pine Capital | 4.07% | $666M | Reduced -5.0% |
| Daniel Loeb | Third Point | 3.27% | $152M | Added +51.2% |
Insider sales (SEC Form 4, open-market, last ~7 months) (HUT)
4 of 7 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-24 | Shattuck Mayo A Iii | Director | 20,000 | $2.0M | 18.3% | Yes (adopted June 25, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-24 | Glennan Sean Joseph | Chief Financial Officer | 6,445 | $508K | 26.4% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-17 | Semah Victor | Chief Legal Officer | 10,000 | $1.3M | 24.2% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-11…2026-06-12 | Flinn Joseph | Director | 38,219 | $4.5M | 78.4% | Yes | Too little history (no open-market trades in 2023) |
| 2026-05-21 | Wilkinson Amy Marie | Director | 20,000 | $2.0M | 7.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-11…2026-05-13 | Rickertsen Rick | Director | 33,987 | $3.7M | 100% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-05-04 | Semah Victor | Chief Legal Officer | 10,518 | $808K | 20.3% | Yes | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (HUT)
Consensus Buy (mean 1.78 on a 1–5 scale), 23 analysts; mean target USD 151.91 (low 96, high 275).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Piper Sandler | Target lowered | Overweight | $143 → $123 |
| 2026-10-16 | Cantor Fitzgerald | Target lowered | Overweight | $180 → $151 |
| 2026-10-12 | Morgan Stanley | Target raised | Overweight | $273 → $275 |
| 2026-10-07 | Canaccord Genuity | Maintained | Buy | $130 |
| 2026-09-23 | UBS | Initiated | Buy | $143 |
| 2026-09-21 | Rothschild & Co | Initiated | Neutral | $96 |
| 2026-09-17 | Wells Fargo | Initiated | Overweight | $175 |
| 2026-08-06 | Piper Sandler | Target raised | Overweight | $127 → $143 |
| 2026-08-06 | Keefe, Bruyette & Woods | Target lowered | Outperform | $157 → $154 |
| 2026-08-05 | Rosenblatt | Maintained | Buy | $124 |
| 2026-08-05 | Needham | Target lowered | Buy | $145 → $138 |
| 2026-08-03 | B. Riley Securities | Target raised | Buy | $130 → $163 |
Total return (dividends reinvested) (HUT)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +57.4% | +14.7% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +57.6% | +2.8% |
| Volatility (annualized) | 105.6% | 101.5% |
| Max drawdown | -51.9% (Jun 2026→Oct 2026) | -94.4% (Nov 2021→Dec 2022) |
HUT revenue by business segment (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| High Performance Computing Colocation & Cloud | $72.5M | 96.7% | +111.3% |
| Digital Infrastructure | $33.0M | 44.0% | +108.4% |
| Power | $5.5M | 7.3% | -38.3% |
| Total revenue | $74.9M | 100% | — |
HUT revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| High Performance Computing Colocation & Cloud | $72.5M | 96.7% | +111.3% |
| Digital Infrastructure | $1.3M | 1.7% | -15.0% |
| Power | $1.2M | 1.6% | -78.6% |
| Total revenue | $74.9M | 100% | — |
HUT revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $72.2M | 96.4% | +113.1% |
| Canada | $2.7M | 3.6% | -63.5% |
| Total revenue | $74.9M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
HUT suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Macquarie Group | “We generate revenue from our 80.1% interest in a joint venture with Macquarie Group Limited ("Macquarie"), a global financial services and infrastructure investment firm, which provides capacity and energy to the electrical grid through four natural gas power plants in Ontario, Canada (the "Far North JV").” |
| Partner | American Bitcoin Corp. (ABTC) | “American Bitcoin anchors this approach under long-term commercial agreements pursuant to which we are its exclusive infrastructure development and operating partner.” |
| Partner | Ionic Digital Inc. (IOND) | “During the fourth quarter of 2024, our agreement with Ionic Digital Inc. ("Ionic") to host approximately 8,500 miners (0.8 EH/s) at our Alpha site was terminated.” |
| Partner | NYDIG Trust Company | “The decrease of $10.7 million was primarily driven by a $6.7 million increase in equity in earnings of our unconsolidated joint venture and a decrease of $3.0 million in interest expense driven by the NYDIG debt restructuring in February 2023.” |
| Partner | Coinbase Credit | “In June 2025, we amended our Credit Agreement with Coinbase to, among other things, amend and increase available capacity under the credit facility from $65.0 million to up to $130.0 million.” |
| Partner | TRANSALTA CORP (TAC) | “On November 17, 2025, the Company announced that it entered into a definitive share purchase agreement with TransAlta Corporation, under which TransAlta Corporation would acquire the 310-megawatt portfolio of four natural gas-fired power plants in Ontario owned and operated by the Far North JV.” |
| Partner | Bitmain Technologies Georgia | “With respect to the material weaknesses above, management, under the oversight of the Audit Committee, completed the remediation activities over the twelve months ended December 31, 2025, which included (i) replacing our third-party advisor who prepared and supported our review of the deferred taxes calculation with an advisor who has additional expertise in calculating deferred income taxes in the international j…” |
Quoted from the company's 10-K filed Feb 25, 2026.
HUT company outlook (results filed Aug 4, 2026)
- “To register for the webcast, use the following link: app.webinar.net/aA6jEPYlwy5 Supplemental Materials and Upcoming Communications The Company expects to make available on its website materials designed to accompany the discussion of its results, along with certain supplemental financial information and other data.”
- “Expected NOI contribution also excludes the impact of selling, general and administrative expenses and depreciation and amortization, each of which has a real economic effect and could materially impact the Company's consolidated financial results.”
Quoted word-for-word from the SEC 8-K results press release.
HUT analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-1.21 | $-0.41 | +198.8% | $77.1M | 4 |
| Next quarter (ends Dec 2026) | $-1.21 | $-0.53 | +126.8% | $73.8M | 4 |
| Current fiscal year (ends Dec 2026) | $-3.42 | $0.59 | -680.2% | $297.6M | 3 |
| Next fiscal year (ends Dec 2027) | $-5.15 | $-1.86 | +177.1% | $581.2M | 7 |
HUT options: expected move
Options price a move of about ±20.0% (±$12.80) by Nov 6, 2026, which includes earnings on Nov 4, 2026; the earnings reaction alone is priced at about ±7.8%. Over the last 8 reports the stock moved ±11.1% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Oct 30, 2026 | 7 | 118.0% | ±13.8% |
| Nov 6, 2026 | 14 | 123.8% | ±20.0% |
| Nov 13, 2026 | 21 | 118.3% | ±23.1% |
| Nov 20, 2026 | 28 | 113.4% | ±25.4% |
| Nov 27, 2026 | 35 | 108.0% | ±27.0% |
| Dec 4, 2026 | 42 | 108.6% | ±29.7% |
| Dec 18, 2026 | 56 | 102.2% | ±32.2% |
| Jan 15, 2027 | 84 | 98.4% | ±37.7% |
30-day implied volatility 112.5% vs 90.6% realized over the last 30 trading days. Put/call ratio (volume) 1.09. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 08:39 UTC)
| Price | USD 63.97 |
|---|---|
| Change | ▼ 10.63% (down) |
| Previous Close | USD 71.58 |
| Open | USD 68.75 |
| Day Range | USD 63.59 – 69.77 |
| 52-Week Range | USD 31.67 – 140.8 |
| Volume | 4,719,492 shares |
| Market Cap | $7.88B |
| Exchange | NMS |
Technical Analysis (HUT)
Nexqual's technical model rates HUT "SELL" based on 1 bullish and 5 bearish signals across 127 daily candles, as of October 23, 2026 at 08:39 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 32.63 (neutral) |
| vs SMA50 | Below (USD 86.4) |
| MACD | -6.5 (negative) |
Analyst Ratings (HUT)
Wall Street analysts rate HUT "Buy" based on 23 analysts, with a mean price target of USD 151.91 (range USD 96–275), per Nexqual as of October 23, 2026 at 08:39 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 23 |
| Mean Target | USD 151.91 |
| High Target | USD 275 |
| Low Target | USD 96 |
| Buy / Hold / Sell | 22 / 1 / 0 |
Earnings (HUT)
| Next Earnings Date | 2026-11-04 |
|---|---|
| EPS Estimate | USD -1.21 |
| Revenue Estimate | $77.08M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.39 vs est -0.47 ▲ beat |
| 2026-03-31 | USD 0.1 vs est -0.36 ▲ beat |
| 2025-12-31 | USD -2.12 vs est -0.09 ▼ miss |
| 2025-09-30 | USD -0.05 vs est -0.12 ▲ beat |
Source: Nexqual, October 23, 2026 at 08:39 UTC.
Financials & Fundamentals (HUT)
| Total Revenue | $317.95M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +81.40% |
| Gross Margin | +62.33% |
| Operating Margin | -275.40% |
| Profit Margin | -188.59% |
| ROE | -43.37% |
| Debt / Equity | 4.37 |
| Current Ratio | 19.35 |
| Total Cash | $233.58M |
| Total Debt | $7.67B |
Source: Nexqual, October 23, 2026 at 08:39 UTC.
Financial Health Score (HUT)
Nexqual rates Hut 8 Corp.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 08:39 UTC.
| Growth | Strong — Revenue +45% YoY (annual) |
|---|---|
| Profitability | Critical — Net margin -96% (last 12 months); banks have no gross margin |
| Balance Sheet | N/A — Not comparable for banks: deposits and customer funds sit on the balance sheet, so cash vs debt does not measure safety (SEC industry: Finance Services) |
| Cash Flow | N/A — Not meaningful for banks and lenders: lending and trading move operating cash flow by billions each year (SEC industry: Finance Services) |
| Efficiency | Critical — ROE -43%, ROA -9.7% |
Ownership (HUT)
| Insider Ownership | +8.55% |
|---|---|
| Institutional Ownership | +81.96% |
| Shares Outstanding | 123.26M |
| Float | 103.04M |
| Short % of Float | +16.87% |
Source: Nexqual, October 23, 2026 at 08:39 UTC.
Leadership (HUT)
Hut 8 Corp. is led by Asher Kevin Genoot, Co-Founder, CEO & Non-Independent Director, per Nexqual as of October 23, 2026 at 08:39 UTC.
| Co-Founder, CEO & Non-Independent Director | Asher Kevin Genoot |
|---|---|
| Co-Founder, Chief Strategy Officer & Non-Independent Director | Michael Ho |
| Chief Financial Officer | Sean Glennan |
| Chief Technology Officer | Jake Palmer |
| Head of Investor Relations & Senior Vice President of Strategic Finance | Mark Eidelman |
Major Backers & Investors (HUT)
Notable institutional backers of Hut 8 Corp. include Coatue Management, Lone Pine Capital, Morgan Stanley, according to Nexqual as of October 23, 2026 at 08:39 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Coatue Management | 7.88% |
| Lone Pine Capital | 4.68% |
| Morgan Stanley | 2.69% |
| T. Rowe Price | 1.6% |
| Shaw D.E. & Co., Inc. | 1.55% |
| Fidelity | 0.92% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 8.76% |
| BlackRock | 7.68% |
| Geode Capital | 2.24% |
| State Street | 2.1% |
Source: Nexqual, October 23, 2026 at 08:39 UTC.
From Hut 8 Corp.'s Latest SEC 10-K Filing (filed 2026-02-25)
Key Strengths & Strategy (as disclosed to the SEC)
- Across this spectrum, we apply a first-principles approach to innovation, grounded in our vertically integrated platform spanning Power, Digital Infrastructure, and Compute.
- We operate in a complex and rapidly evolving regulatory environment and we are subject to a wide range of laws and regulations enacted by federal, state, provincial, and local governments, governmental agencies, and regulatory authorities, including the SEC, the Commodity Futures Trading Commission ("CFTC"), the Federal Trade Commission, and the Financial Crimes Enforcement Network of the U.S.
- Together, these layers form a vertically integrated foundation for next-generation, energy-intensive technology applications.
- To support this approach, we have developed a proprietary software suite comprising three specialized applications (see Exhibit 5).
Partnerships
- We actively manage our treasury with the goal of optimizing return on invested capital while ensuring sufficient financial optionality to fund operations and growth across market conditions.
Legal & Regulatory Risks (Item 1A, quoted)
- We face risks associated with our current indebtedness, and our failure to service debt or remain in compliance with certain covenants may have a material adverse effect on our business, financial condition, and results of operations.
- We may be subject to substantial environmental or energy regulation and may be adversely affected by legislative or regulatory changes.
- Our interactions with a blockchain may expose us to specially designated nationals ("SDN") or blocked persons and new legislation or regulation could adversely impact our business or the market for digital assets.
- Regulatory changes reclassifying Bitcoin as a security could lead to our or certain of our subsidiaries' classification as an "investment company" under the Investment Company Act of 1940 (the "1940 Act") and could adversely affect the market price of Bitcoin and the market price of our listed securities.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| HLI | Houlihan Lokey, Inc. | USD 133.24 | ▲ 3.78% |
| EVR | Evercore Inc. | USD 255.39 | ▲ 1.34% |
| GLXY | Galaxy Digital Inc. | USD 15.29 | ▼ 9.69% |
| SF | Stifel Financial Corporation | USD 67.85 | ▲ 2.17% |
| JEF | Jefferies Financial Group Inc. | USD 45.64 | ▲ 1.35% |
| IREN | IREN LIMITED | USD 25.51 | ▼ 8.37% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 08:39 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt