Hut 8 (NASDAQ:HUT) Given New $75.00 Price Target at Keefe, Bruyette & Woods

Hut 8 (NASDAQ:HUT) had its price objective increased by Keefe, Bruyette & Woods from $55.00 to $75.00 in a report released on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

HUT has been the subject of a number of other reports. Citigroup reiterated an “outperform” rating on shares of Hut 8 in a report on Tuesday, October 21st. Craig Hallum reiterated a “buy” rating and set a $80.00 target price on shares of Hut 8 in a research note on Thursday, December 18th. Rosenblatt Securities reissued a “buy” rating and issued a $65.00 price target on shares of Hut 8 in a report on Thursday, December 18th. Cantor Fitzgerald boosted their price objective on shares of Hut 8 from $24.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Finally, Northland Securities set a $58.00 target price on shares of Hut 8 in a research note on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $59.12.

Hut 8 Stock Up 9.7%

Hut 8 stock opened at $61.84 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.72 and a quick ratio of 0.72. Hut 8 has a fifty-two week low of $10.04 and a fifty-two week high of $62.91. The firm has a fifty day moving average price of $48.67 and a two-hundred day moving average price of $38.71. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of -158.56 and a beta of 4.41.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.09. Hut 8 had a return on equity of 8.06% and a net margin of 115.39%.The company had revenue of $80.72 million for the quarter, compared to the consensus estimate of $64.70 million. As a group, analysts forecast that Hut 8 will post -0.53 earnings per share for the current year.

Institutional Trading of Hut 8

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC bought a new position in Hut 8 during the fourth quarter worth about $30,000. CWM LLC raised its holdings in shares of Hut 8 by 37.4% in the 4th quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after buying an additional 301 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Hut 8 by 1,578.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,393 shares of the company’s stock worth $64,000 after buying an additional 1,310 shares during the period. Nisa Investment Advisors LLC boosted its stake in Hut 8 by 116.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,515 shares of the company’s stock valued at $28,000 after buying an additional 815 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in Hut 8 by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $30,000 after acquiring an additional 655 shares during the period. Institutional investors own 31.75% of the company’s stock.

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.