Hut 8 (NASDAQ:HUT) Stock Price Up 7.3% Following Analyst Upgrade

Hut 8 Corp. (NASDAQ:HUT)’s share price traded up 7.3% on Thursday after Benchmark raised their price target on the stock from $165.00 to $195.00. Benchmark currently has a buy rating on the stock. Hut 8 traded as high as $120.38 and last traded at $117.9340. 1,363,854 shares changed hands during trading, a decline of 71% from the average session volume of 4,775,836 shares. The stock had previously closed at $109.86.

HUT has been the topic of a number of other research reports. Northland Securities set a $120.00 price objective on Hut 8 in a research note on Thursday, May 7th. Citizens Jmp upped their target price on shares of Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a report on Thursday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $124.00 price target on shares of Hut 8 in a research note on Tuesday. Weiss Ratings cut shares of Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Finally, Jefferies Financial Group assumed coverage on shares of Hut 8 in a report on Thursday, May 14th. They set a “buy” rating and a $156.00 price target for the company. Eighteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Hut 8 has a consensus rating of “Moderate Buy” and an average price target of $133.10.

Insiders Place Their Bets

In related news, Director Joseph Flinn sold 7,719 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $117.91, for a total value of $910,147.29. Following the completion of the transaction, the director directly owned 10,519 shares in the company, valued at approximately $1,240,295.29. This represents a 42.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Victor Semah sold 10,000 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. Following the transaction, the insider owned 31,378 shares in the company, valued at $3,922,250. This trade represents a 24.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 112,724 shares of company stock worth $12,184,340 in the last three months. Company insiders own 10.40% of the company’s stock.

Key Hut 8 News

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

• Positive Sentiment: Benchmark raised its price target on Hut 8 to $195 from $165 and reiterated a buy rating, signaling additional upside after the stock’s recent rally. Benchmark Raises Hut 8 Price Target For Second Time In A Week
• Positive Sentiment: Needham lifted its target to $145 after Hut 8 secured a second Beacon Point AI lease, reinforcing investor confidence in the company’s pivot toward AI data centers. Needham lifts Hut 8 target to $145 after second Beacon Point AI lease
• Positive Sentiment: Benchmark also highlighted Hut 8’s new $9.8 billion AI infrastructure deal, which materially increases contracted capacity and supports the company’s transition from bitcoin mining toward higher-value AI data center operations. Benchmark Raises Hut 8 Price Target After Bitcoin Miner Signs $9.8 Billion AI Data Center Deal
• Positive Sentiment: Rosenblatt Securities initiated or reiterated a Buy rating on Hut 8, adding to the bullish sentiment around the stock. Hut 8 (NASDAQ:HUT) Earns “Buy” Rating from Rosenblatt Securities
• Neutral Sentiment: Investor attention is also being drawn to elevated call-option activity, suggesting traders are positioning for continued volatility around the stock. Investors Buy Large Volume of Call Options on Hut 8 (NASDAQ:HUT)

Institutional Investors Weigh In On Hut 8

Several hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its position in Hut 8 by 4,669,387.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after purchasing an additional 4,062,367 shares during the last quarter. SRS Investment Management LLC acquired a new position in shares of Hut 8 in the 4th quarter valued at $131,838,000. Sachem Head Capital Management LP acquired a new position in shares of Hut 8 in the 4th quarter valued at $129,780,000. Ameriprise Financial Inc. grew its stake in shares of Hut 8 by 1,043.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company’s stock valued at $46,255,000 after buying an additional 2,269,237 shares during the period. Finally, Oasis Management Co Ltd. grew its stake in shares of Hut 8 by 231.5% during the 4th quarter. Oasis Management Co Ltd. now owns 2,307,683 shares of the company’s stock valued at $106,015,000 after buying an additional 1,611,653 shares during the period. 31.75% of the stock is owned by institutional investors and hedge funds.

Hut 8 Price Performance

The company has a market capitalization of $13.25 billion, a PE ratio of -39.22 and a beta of 4.62. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average price is $111.44 and its 200-day moving average price is $79.09.

Hut 8 (NASDAQ:HUT) last issued its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($1.65). Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%.The firm had revenue of $139.31 million during the quarter, compared to analysts’ expectations of $78.53 million. On average, sell-side analysts forecast that Hut 8 Corp. will post -1.29 earnings per share for the current fiscal year.

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.