Needham & Company LLC Cuts Hut 8 (NASDAQ:HUT) Price Target to $138.00

Hut 8 (NASDAQ:HUT) had its price target lowered by Needham & Company LLC from $145.00 to $138.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently commented on HUT. Cantor Fitzgerald boosted their price objective on shares of Hut 8 from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Morgan Stanley initiated coverage on Hut 8 in a report on Thursday, July 23rd. They issued an “overweight” rating and a $263.00 target price on the stock. BTIG Research lifted their price target on Hut 8 from $115.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Wall Street Zen downgraded Hut 8 from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Finally, Benchmark upped their price objective on Hut 8 from $165.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $139.15.

Hut 8 Trading Down 2.3%

HUT opened at $88.59 on Wednesday. The stock has a market capitalization of $10.92 billion, a price-to-earnings ratio of -16.26 and a beta of 4.64. The company has a quick ratio of 0.86, a current ratio of 19.35 and a debt-to-equity ratio of 4.22. Hut 8 has a twelve month low of $18.68 and a twelve month high of $140.80. The company has a 50-day simple moving average of $109.85 and a 200 day simple moving average of $82.14.

Hut 8 (NASDAQ:HUT) last issued its earnings results on Tuesday, August 4th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The firm had revenue of $72.66 million during the quarter, compared to analyst estimates of $79.37 million. Hut 8 had a negative net margin of 188.59% and a negative return on equity of 0.97%. During the same quarter in the previous year, the firm posted $1.18 earnings per share. Analysts predict that Hut 8 will post -3.05 EPS for the current fiscal year.

Insider Activity at Hut 8

In related news, Director Joseph Flinn sold 7,719 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $117.91, for a total transaction of $910,147.29. Following the sale, the director owned 10,519 shares of the company’s stock, valued at $1,240,295.29. This trade represents a 42.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Victor Semah sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following the sale, the insider directly owned 31,378 shares in the company, valued at approximately $3,922,250. This trade represents a 24.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 102,206 shares of company stock worth $11,376,242. Corporate insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Hut 8

Large investors have recently bought and sold shares of the company. Millennium Management LLC grew its holdings in shares of Hut 8 by 11.9% during the first quarter. Millennium Management LLC now owns 330,416 shares of the company’s stock worth $3,839,000 after purchasing an additional 35,120 shares during the last quarter. Prudential Financial Inc. bought a new position in Hut 8 in the 2nd quarter valued at approximately $216,000. Russell Investments Group Ltd. boosted its position in Hut 8 by 235.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after buying an additional 1,719 shares during the period. New York State Common Retirement Fund grew its holdings in Hut 8 by 19.9% during the 2nd quarter. New York State Common Retirement Fund now owns 32,540 shares of the company’s stock worth $605,000 after acquiring an additional 5,400 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Hut 8 by 13.2% during the 2nd quarter. Invesco Ltd. now owns 1,067,985 shares of the company’s stock worth $19,865,000 after acquiring an additional 124,439 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors.

Hut 8 News Summary

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Analyst support remains strong. Maxim Group upgraded Hut 8 to “Strong-Buy,” while Rosenblatt Securities issued a “Buy” rating. Maxim’s bullish stance provides some support despite near-term losses. Hut 8 Earns Buy Rating from Rosenblatt Securities
• Positive Sentiment: AI infrastructure pivot is attracting investor interest. Recent coverage highlights Hut 8’s move toward AI data-center infrastructure, a strategy that could diversify the company beyond cryptocurrency mining and create higher-growth revenue opportunities. Why Hut 8 Is Up After Pivoting Toward AI Data Center Infrastructure
• Neutral Sentiment: Price targets still imply substantial upside. Keefe, Bruyette & Woods lowered its target to $154 from $157 but maintained an “Outperform” rating. Needham also reduced its target to $138, signaling less optimism than before but continued potential upside. Needham Lowers Hut 8 Price Target
• Negative Sentiment: Quarterly results missed expectations. Hut 8 reported a loss of $1.27 per share versus the expected $0.55 loss, while revenue of $72.66 million fell short of the $79.37 million consensus estimate. The earnings miss has pressured the stock. Hut 8 Trading Down After Earnings Miss
• Negative Sentiment: Profit forecasts were cut significantly. Northland Securities reduced its 2026 EPS estimate to a $3.37 loss from a $0.68 loss, including deeper projected losses in the third and fourth quarters. Maxim also forecasts substantial losses through 2028, including a $15.13 loss per share in 2027 and a $28.33 loss in 2028.

About Hut 8

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.