Hut 8 Corp. (NASDAQ:HUT) Given Average Recommendation of “Buy” by Brokerages

Hut 8 Corp. (NASDAQ:HUT) has been given a consensus rating of “Buy” by the seventeen research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $64.6875.

HUT has been the subject of several recent analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Hut 8 from $55.00 to $75.00 and gave the company a “moderate buy” rating in a report on Tuesday, January 27th. Canaccord Genuity Group lifted their price target on Hut 8 from $54.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, December 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hut 8 in a research report on Monday, December 29th. BTIG Research reiterated a “buy” rating and set a $55.00 price target on shares of Hut 8 in a report on Wednesday, December 17th. Finally, Roth Mkm reiterated a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a report on Tuesday, January 27th.

Hedge Funds Weigh In On Hut 8

A number of hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its holdings in shares of Hut 8 by 1.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock valued at $734,000 after buying an additional 254 shares during the last quarter. CWM LLC lifted its holdings in Hut 8 by 37.4% during the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after acquiring an additional 301 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Hut 8 by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock valued at $331,000 after acquiring an additional 321 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Hut 8 by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock worth $996,000 after acquiring an additional 362 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Hut 8 by 4.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company’s stock worth $413,000 after purchasing an additional 388 shares during the period. 31.75% of the stock is owned by institutional investors and hedge funds.

Hut 8 Price Performance

HUT opened at $55.30 on Thursday. Hut 8 has a fifty-two week low of $10.04 and a fifty-two week high of $66.07. The firm has a market cap of $5.97 billion, a price-to-earnings ratio of -141.79 and a beta of 4.42. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.14. The company’s 50-day moving average price is $54.68 and its 200 day moving average price is $43.60.

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.