Hut 8 (NASDAQ:HUT) Price Target Raised to $195.00

Hut 8 (NASDAQ:HUT) had its price objective lifted by Benchmark from $165.00 to $195.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also issued reports on HUT. Citizens Jmp upped their price objective on shares of Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a report on Thursday, May 7th. Rosenblatt Securities reissued a “buy” rating and set a $124.00 target price on shares of Hut 8 in a research note on Tuesday. B. Riley Financial upped their price target on Hut 8 from $76.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Citigroup reiterated an “outperform” rating on shares of Hut 8 in a report on Tuesday, April 28th. Finally, Cantor Fitzgerald raised their price objective on Hut 8 from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Eighteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.10.

Hut 8 Stock Performance

HUT opened at $109.99 on Wednesday. Hut 8 has a twelve month low of $18.68 and a twelve month high of $140.80. The firm has a market capitalization of $12.38 billion, a PE ratio of -36.66 and a beta of 4.62. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average price is $111.59 and its 200 day moving average price is $79.31.

Hut 8 (NASDAQ:HUT) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). The business had revenue of $139.31 million during the quarter, compared to analyst estimates of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. As a group, sell-side analysts expect that Hut 8 will post -1.29 EPS for the current fiscal year.

Insider Transactions at Hut 8

In other Hut 8 news, Director Rick Rickertsen sold 17,491 shares of Hut 8 stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total value of $1,924,010.00. Following the completion of the transaction, the director directly owned 17,491 shares of the company’s stock, valued at $1,924,010. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Flinn sold 30,500 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the sale, the director directly owned 18,238 shares in the company, valued at $2,119,437.98. This represents a 62.58% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 112,724 shares of company stock valued at $12,184,340. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Hut 8

Institutional investors have recently modified their holdings of the business. CoreCap Advisors LLC raised its stake in shares of Hut 8 by 42.1% in the second quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock valued at $62,000 after acquiring an additional 160 shares in the last quarter. Arlington Trust Co LLC grew its stake in Hut 8 by 175.0% during the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock worth $32,000 after purchasing an additional 175 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Hut 8 by 1.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock worth $734,000 after purchasing an additional 254 shares during the period. GAMMA Investing LLC increased its holdings in Hut 8 by 35.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,057 shares of the company’s stock worth $122,000 after purchasing an additional 274 shares during the period. Finally, CWM LLC increased its holdings in Hut 8 by 37.4% during the 4th quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after purchasing an additional 301 shares during the period. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Company Profile

Hut 8 Corp., trading on the Nasdaq under the symbol HUT, is a North American digital infrastructure company specializing in cryptocurrency mining and high‐performance computing. Founded in 2017 and headquartered in Toronto, Canada, Hut 8 operates purpose‐built data centers that house fleets of specialized ASIC and GPU servers. Through its flagship mining facilities in Alberta and Ontario, the company leverages low‐cost, low‐carbon power sources—such as hydroelectric and natural gas—to support sustainable bitcoin production.