Hut 8's Earnings Due Tomorrow: Here’s What Investors Need to Know

Hut 8 Corp. (NASDAQ:HUT) shares are in the spotlight Tuesday ahead of earnings due tomorrow before the open, with the data center build-out, financing, recent analyst activity and a technical setup showing a drawdown in focus.

• Hut 8 stock is gaining positive traction. Why is HUT stock advancing?

Earnings Preview & History

Hut is scheduled to report third-quarter earnings on Nov. 4 before the market opens. Analysts estimate a loss of 91 cents per share along with revenue of $75.93 million. For the prior quarter, Hut 8 reported a loss of $1.27 per share, missing the consensus estimate of a loss of 33 cents. The company also posted revenue of $74.93 million, missing the consensus estimate of $79.75 million.

What to Watch: Data Center Build-Out, Leasing And Financing

Investors will be closely tracking Hut 8’s data center build-out and leasing. It has leases for 949 MW of contracted IT capacity, representing about $26.6 billion of expected base-term contract value and more than $1.75 billion of expected average annual net operating income. It signed a second 352 MW lease at Beacon Point after the second quarter ended, and it expects data hall deliveries in the second and third quarters of 2027, so the pace of construction is in focus.

Financing will draw attention too, after Hut 8 closed $7.5 billion of investment-grade, non-recourse project financing. The shift away from bitcoin mining will be watched as well. Compute revenue, which includes mining, made up most of first-quarter revenue, and total revenue has missed estimates for three straight quarters. The second-quarter net loss was $150.2 million.

Analyst Consensus & Recent Actions

The stock carries a Buy rating with an average price forecast of $149.50. Recent analyst moves include:

• B. Riley Securities: Buy (Lowers Target to $134.00) (Oct. 30)
• Piper Sandler: Overweight (Lowers Target to $123.00) (Oct. 20)
• Cantor Fitzgerald: Overweight (Lowers Target to $151.00) (Oct. 16)

Drawdown Within 52-Week Range, With Momentum Cooling and $57 Ceiling Overhead

From a trend perspective, Hut is still in a drawdown: at $56.31, the stock is trading 21.9% below its 20-day SMA ($72.38) and 31.5% below its 200-day SMA ($82.50), which keeps the intermediate trend pointed down unless price can reclaim those bands.

Momentum is also leaning cautious: MACD is below its signal line and the histogram is negative, which suggests upside pressure is fading versus the prior upswing unless buyers can push the stock back into a stronger uptrend. Simply put, MACD compares faster and slower trend signals—when it’s below its signal line, momentum is typically cooling rather than building.

Key levels are tight enough to matter for premarket traders watching follow-through after the open:

• Key Resistance: $57.00 — a nearby round-number area where rebounds can stall quickly
• Key Support: $46.50 — a prior buyer-defense zone that sits well above the $31.67 52-week low but below current price if selling resumes

Zooming out, the bigger context is volatility inside a wide 52-week range ($31.67 to $140.80), with the most recent swing high in September and a swing low in October. The 20-day SMA sitting below the 50-day SMA reinforces that rallies may face overhead supply until the shorter averages start turning up again.

Hut Shares Trade Higher

HUT Price Action: At the time of publication, Hut shares are trading 3.82% higher at $57.10, according to data from Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.