Hut 8 Corp. (NASDAQ:HUT) shares are trending on Friday.

Shares of the Florida-based energy and digital infrastructure platform edged up 1.07% to $80.44 in after-hours trading on Thursday.

In the regular session, the stock closed at $79.59, down 10.87%, according to Benzinga Pro data.

Roth Reinstates Buy Rating

The stock move followed Roth Capital analyst Bryan Baratian reinstating coverage of Hut 8 with a Buy rating and a $108 price target on Thursday. A Buy rating signals the analyst expects the stock to outperform. The target is about 36% above Thursday’s close.

Separately, Canaccord Genuity analyst Joseph Vafi maintained a Buy rating with a $130 price target on Wednesday. That implies roughly 63% upside from Thursday’s close. Both firms see room for gains.

Volume Spikes Well Above Average

Meanwhile, Hut 8 had an extremely elevated trading session on Thursday. Volume reached 10.31 million shares, about 2.2 times the stock’s average volume of 4.68 million.

Benzinga’s Take: Heavy volume on a steep decline can point to strong selling pressure.

Q2 Miss in Focus Ahead of Q3 Report

In the second quarter, reported in August, Hut 8 posted a loss of $1.27 per share, compared with the $0.32 loss analysts expected. Revenue came in at $74.93 million, below the $80.96 million estimate, a 7.44% miss.

Hut 8 will release third-quarter 2026 results on Nov. 4.

Trading Metrics, Technical Analysis

Hut 8 has a market capitalization of about $9.81 billion, a 52-week high of $140.80 and a 52-week low of $31.67. The company has approximately 123.26 million shares outstanding.

HUT has a Relative Strength Index (RSI) of 38.68.

Over the past 12 months, the stock has gained 78.45%.

HUT is currently trading at 43.91% of its 52-week price range.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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