Hut 8 (NASDAQ:HUT) Stock Price Expected to Rise, BTIG Research Analyst Says

Hut 8 (NASDAQ:HUT) had its price objective upped by stock analysts at BTIG Research from $55.00 to $90.00 in a research note issued on Friday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 16.89% from the company’s previous close.

Several other equities research analysts have also recently commented on HUT. Needham & Company LLC increased their price objective on Hut 8 from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. B. Riley Financial increased their price objective on Hut 8 from $61.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Cantor Fitzgerald increased their price objective on Hut 8 from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price objective on shares of Hut 8 in a research report on Thursday, February 26th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $65.00 target price on shares of Hut 8 in a report on Thursday, February 26th. Sixteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.38.

Hut 8 Trading Down 2.3%

Hut 8 stock opened at $77.00 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.09 and a quick ratio of 1.09. Hut 8 has a one year low of $11.86 and a one year high of $83.18. The stock has a market capitalization of $8.54 billion, a PE ratio of -33.19 and a beta of 4.38. The business’s fifty day moving average is $56.62 and its 200 day moving average is $51.49.

Insider Transactions at Hut 8

In other Hut 8 news, 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 represents a 18.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sean Joseph Glennan sold 4,625 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $226,856.25. Following the completion of the transaction, the chief financial officer directly owned 12,068 shares in the company, valued at $591,935.40. This trade represents a 27.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 11.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Harvest Portfolios Group Inc. grew its position in shares of Hut 8 by 75.3% during the third quarter. Harvest Portfolios Group Inc. now owns 85,093 shares of the company’s stock worth $2,962,000 after purchasing an additional 36,543 shares in the last quarter. Paradiem LLC purchased a new stake in shares of Hut 8 during the third quarter worth about $1,652,000. Steadview Capital Management LLC purchased a new stake in shares of Hut 8 during the third quarter worth about $985,000. Y Intercept Hong Kong Ltd grew its position in shares of Hut 8 by 26.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 131,110 shares of the company’s stock worth $4,564,000 after purchasing an additional 27,568 shares in the last quarter. Finally, Zweig DiMenna Associates LLC grew its position in shares of Hut 8 by 256.5% during the third quarter. Zweig DiMenna Associates LLC now owns 707,000 shares of the company’s stock worth $24,611,000 after purchasing an additional 508,700 shares in the last quarter. Institutional investors own 31.75% of the company’s stock.

Hut 8 Company Profile

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.