Cantor Fitzgerald Issues Positive Forecast for Hut 8 (NASDAQ:HUT) Stock Price

Hut 8 (NASDAQ:HUT) had its price target upped by Cantor Fitzgerald from $68.00 to $80.00 in a report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the company. Roth Mkm reissued a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research note on Tuesday, January 27th. Needham & Company LLC increased their price target on Hut 8 from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Canaccord Genuity Group upped their price objective on shares of Hut 8 from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Keefe, Bruyette & Woods upped their price objective on shares of Hut 8 from $55.00 to $75.00 and gave the company a “moderate buy” rating in a research report on Tuesday, January 27th. Finally, HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Hut 8 presently has an average rating of “Moderate Buy” and an average price target of $73.00.

Hut 8 Stock Performance

HUT stock opened at $63.42 on Thursday. The business’s fifty day moving average is $52.14 and its 200-day moving average is $48.57. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.12. The company has a market cap of $7.03 billion, a P/E ratio of -27.34 and a beta of 4.38. Hut 8 has a twelve month low of $10.61 and a twelve month high of $67.08.

Insiders Place Their Bets

In other Hut 8 news, CFO Sean Joseph Glennan sold 4,625 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the completion of the transaction, the chief financial officer owned 12,068 shares in the company, valued at approximately $591,935.40. This represents a 27.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victor Semah sold 5,498 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $269,676.90. Following the transaction, the insider owned 24,796 shares of the company’s stock, valued at approximately $1,216,243.80. This trade represents a 18.15% decrease in their position. The disclosure for this sale is available in the SEC filing. 11.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hut 8

A number of large investors have recently added to or reduced their stakes in HUT. GAMMA Investing LLC bought a new position in Hut 8 during the 4th quarter worth about $30,000. Imprint Wealth LLC bought a new position in Hut 8 during the 4th quarter worth about $38,000. Russell Investments Group Ltd. increased its holdings 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 purchasing an additional 1,719 shares in the last quarter. Activest Wealth Management bought a new position in Hut 8 during the 4th quarter worth about $49,000. Finally, Danske Bank A S acquired a new position in shares of Hut 8 during the 4th quarter worth about $51,000. 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.