Needham & Company LLC Issues Positive Forecast for Hut 8 (NASDAQ:HUT) Stock Price

Hut 8 (NASDAQ:HUT) had its target price lifted by Needham & Company LLC from $60.00 to $66.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently issued reports on the company. Wall Street Zen upgraded Hut 8 from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Roth Mkm reiterated a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research report on Tuesday, January 27th. Keefe, Bruyette & Woods increased their price objective on shares of Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, January 27th. BTIG Research restated a “buy” rating and set a $55.00 target price on shares of Hut 8 in a research note on Wednesday, December 17th. Finally, HC Wainwright initiated coverage on shares of Hut 8 in a report on Monday, February 2nd. They issued a “buy” rating and a $80.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Hut 8 presently has an average rating of “Buy” and a consensus target price of $65.06.

Hut 8 Price Performance

Shares of Hut 8 stock opened at $54.82 on Thursday. The stock’s fifty day moving average is $55.01 and its 200 day moving average is $43.68. Hut 8 has a one year low of $10.04 and a one year high of $66.07. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market cap of $5.92 billion, a P/E ratio of -23.63 and a beta of 4.42.

Institutional Trading of Hut 8

A number of large investors have recently added to or reduced their stakes in HUT. Vanguard Group Inc. grew its holdings in shares of Hut 8 by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock valued at $366,526,000 after purchasing an additional 250,320 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Hut 8 by 4,669,387.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after buying an additional 4,062,367 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Hut 8 by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock worth $104,133,000 after buying an additional 504,652 shares during the last quarter. SRS Investment Management LLC purchased a new stake in shares of Hut 8 during the 4th quarter valued at about $131,838,000. Finally, Sachem Head Capital Management LP purchased a new stake in shares of Hut 8 during the 4th quarter valued at about $129,780,000. Institutional investors own 31.75% of the company’s stock.

More Hut 8 News

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

• Positive Sentiment: Strong revenue growth and strategic AI pivot — Zacks reports Q4 revenue jumped ~179% year-over-year driven by Compute growth and a deliberate shift to AI and power‑first infrastructure, which supports Hut 8’s longer‑term growth thesis. HUT 8 Q4 Earnings Surpass Estimates, Revenues Increase Y/Y
• Positive Sentiment: Analyst upward revisions and buy ratings — HC Wainwright, Rosenblatt and Needham reaffirm/raise coverage and lift price targets (up to $80, $65 and $66 respectively), signaling institutional confidence in Hut 8’s AI/compute strategy and implying meaningful upside. Benzinga coverage of analyst actions
• Positive Sentiment: Partnership to scale AI deployments — Vertiv announced a collaboration with Hut 8 to industrialize and accelerate deployment of high‑density AI infrastructure, which could de‑risk buildout timelines and increase addressable market for Hut 8’s compute services. Vertiv industrializes AI deployment; collaborates with Hut 8
• Positive Sentiment: Brokerage consensus = Buy — Coverage aggregation shows a consensus buy, reinforcing positive analyst sentiment around the company’s strategic repositioning. Hut 8 Receives Consensus “Buy”
• Neutral Sentiment: Detailed investor materials released — Management published the Q4 slide deck and earnings call transcript (Seeking Alpha and company documents) — useful for modeling revenue cadence, capital plans and the timing of AI/compute customer wins. Q4 Results – Earnings Call Presentation
• Negative Sentiment: Large GAAP loss and EPS miss — Company reported a steep GAAP loss (reported EPS around -$2.63 to -$2.75 in various releases) and a sizable net loss in the quarter, driven in part by non‑cash items and remeasurements, which raises near‑term profitability concerns. Press Release / Slide Deck
• Negative Sentiment: Mixed quarter vs Street expectations — Some outlets note revenue or EPS fell short of certain Street projections (e.g., revenue reported ~$88.5M vs some estimates near $103M), creating short‑term volatility as investors reconcile strong y/y growth with quarterly beats/misses. Hut 8 Stock Pops As Earnings Highlight AI Pivot

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.