Hut 8 Corp. (NASDAQ:HUT) shares are in the spotlight Monday, with earnings on deck, a wide split in analyst targets and a technical setup showing a strong long-term uptrend meeting choppy short-term momentum.
- Hut 8 stock is moving in positive territory. Why are HUT shares climbing?
Earnings Preview & History
Hut 8 is scheduled to report second-quarter earnings on August 4. Analysts estimate a loss of 33 cents per share along with revenue of $79.75 million. For the prior quarter, Hut 8 reported a loss of $1.98 per share, missing the consensus estimate of a loss of 34 cents per share. The company also posted revenue of $71.02 million, below the consensus estimate of $81.28 million.
What to Watch
Investors will be closely tracking construction progress at River Bend and Beacon Point, Hut 8’s two major AI data center campuses, since neither is expected to contribute meaningfully to revenue until 2027. Updates on the company’s 8,375-megawatt development pipeline will also be in focus, as investors gauge how much additional capacity can convert into long-term leases.
Bitcoin mining and digital asset mark-to-market swings should draw attention too, since unrealized crypto fluctuations have driven outsized net losses even as the business shifts toward AI infrastructure.
Hut 8 Trades 65% Above Its 200-Day Average
From a trend perspective, the stock is still in a strong long-term uptrend: it’s trading 64.7% above the 200-day SMA ($68.62) and 28.3% above the 100-day SMA ($88.06). The nearer-term picture is more mixed, with shares only 1.4% above the 50-day SMA ($111.45) while still 7.3% above the 20-day SMA ($105.30).
RSI is the cleaner momentum read right now, sitting at 51.72, which points to neutral momentum after the stock cooled off from earlier overbought conditions (RSI pushed above 70 in May). In plain terms, RSI helps gauge whether a move is getting stretched; near-52 suggests the stock is closer to “range/decision point” than “overheated.”
The moving-average structure also explains the tug-of-war: the 20-day SMA remains below the 50-day SMA (a bearish short-term crossover), even as the 50-day SMA stays above the 200-day SMA (a bullish longer-term backdrop). That combination often produces choppy trading where dips get bought, but breakouts need confirmation.
- Key Resistance: $130.00 — a round-number area that sits below the $140.80 52-week high and can act as a spot where rebounds stall
- Key Support: $104.50 — a nearby floor that lines up closely with the 20-day SMA/EMA zone, making it a practical “trend support” level
Analyst Consensus & Recent Actions
The stock carries a Buy rating with an average price forecast of $143.33. Recent analyst moves include:
- Morgan Stanley: Initiated with Overweight (Target $263.00) (July 23)
- Benchmark: Buy (Raises Target to $195.00) (July 22)
- Rosenblatt: Buy (Maintains Target to $124.00) (July 21)
Hut Shares Trade Higher
HUT Price Action: At the time of publication, Hut shares are trading 2.31% higher at $112.53, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
