Hut 8 Corp. (NASDAQ:HUT) Stock Has Consensus Target Price of $146.77

Hut 8 Corp. (NASDAQ:HUT) has been given a consensus recommendation of “Buy” by the twenty-four brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eighteen have assigned a buy rating and four have given a strong buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $141.68.

Several research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Hut 8 from $273.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, October 9th. Wall Street Zen lowered Hut 8 from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Roth Capital started coverage on Hut 8 in a research note on Wednesday, October 7th. They set a “buy” rating and a $108.00 price objective on the stock. Keefe, Bruyette & Woods dropped their price objective on Hut 8 from $157.00 to $154.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Finally, Wells Fargo & Company cut their price objective on shares of Hut 8 from $175.00 to $148.00 and set an “overweight” rating on the stock in a report on Thursday.

Insider Activity

In related news, Director Mayo A. Shattuck III sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the transaction, the director directly owned 89,408 shares in the company, valued at approximately $8,940,800. The trade was a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sean Glennan sold 6,445 shares of the company’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $78.76, for a total transaction of $507,608.20. Following the completion of the sale, the chief financial officer directly owned 17,978 shares of the company’s stock, valued at $1,415,947.28. The trade was a 26.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Hut 8

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Hut 8 during the 2nd quarter valued at $1,093,294,000. Avala Global LP bought a new position in shares of Hut 8 during the 2nd quarter worth $144,602,000. Wellington Management Group LLP bought a new position in shares of Hut 8 during the 2nd quarter worth $97,949,000. Montanova Capital LLC purchased a new stake in Hut 8 in the 2nd quarter worth about $77,348,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Hut 8 in the 2nd quarter worth about $56,364,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Trading Down 6.1%

HUT stock opened at $45.95 on Tuesday. The company has a current ratio of 19.35, a quick ratio of 19.35 and a debt-to-equity ratio of 4.22. The business has a 50-day simple moving average of $81.63 and a two-hundred day simple moving average of $82.21. Hut 8 has a 52-week low of $31.67 and a 52-week high of $140.80.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of ($0.72) by $1.70. Hut 8 had a negative return on equity of 9.99% and a negative net margin of 169.76%. The firm had revenue of $71.07 million during the quarter, compared to the consensus estimate of $75.78 million. Equities analysts forecast that Hut 8 will post -2.93 EPS for the current year.

Key Stories Impacting Hut 8

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

• Positive Sentiment: Hut 8 said it fully leased its Beacon Point campus, adding a second 352-megawatt lease and bringing expected base-term contract value across its AI data-center portfolio to about $26.6 billion. It also expanded power capacity under exclusivity by 1,300 MW to 3,180 MW. Hut 8 Reports Third Quarter 2026 Results
• Positive Sentiment: The company returned $250 million to shareholders through buybacks and increased its repurchase authorization to $1 billion. It also closed a $1.07 billion revolving credit facility, adding funding flexibility for development. Hut 8 expands buyback authorization
• Neutral Sentiment: Wells Fargo, Needham and Cantor Fitzgerald lowered their price targets, but each maintained a positive rating—overweight or buy—indicating analysts still see potential upside. Wells Fargo recommendations
• Negative Sentiment: Hut 8 reported a Q3 loss of $1.23 per share, worse than analysts’ expected loss of $1.06, while revenue also missed estimates. The larger loss and revenue shortfall likely weighed on sentiment. Hut 8 reports Q3 loss, misses revenue estimates
• Negative Sentiment: The company sold 3,102 bitcoin to fund $250 million in share repurchases. While the buyback supports shareholders, investors may be concerned about reducing its bitcoin holdings and exposure to potential future gains. Hut 8 sold bitcoin to fund buybacks

Hut 8 Company Profile

Hut 8 Corp. is a North American energy infrastructure and computing company whose business includes digital asset mining, high-performance computing and data center operations. The company develops and manages power and infrastructure assets intended to support energy-intensive computing applications.

Hut 8’s activities have historically centered on Bitcoin mining, supported by company-operated data centers and specialized mining equipment. It also provides infrastructure for emerging computing applications, including artificial intelligence and other high-performance computing workloads, as it seeks to expand beyond cryptocurrency mining.

The company was established in Canada and expanded its operations in the United States through its combination with U.S.