Canaccord Genuity Group Raises Hut 8 (NASDAQ:HUT) Price Target to $70.00

Hut 8 (NASDAQ:HUT) had its target price increased by equities researchers at Canaccord Genuity Group from $62.00 to $70.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 31.50% from the company’s previous close.

A number of other brokerages have also weighed in on HUT. Keefe, Bruyette & Woods lifted their target price on shares of Hut 8 from $55.00 to $75.00 and gave the company a “moderate buy” rating in a research note on Tuesday, January 27th. Rosenblatt Securities restated a “buy” rating and issued a $65.00 price objective on shares of Hut 8 in a report on Thursday. Wall Street Zen upgraded Hut 8 from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Needham & Company LLC increased their target price on Hut 8 from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald lifted their price target on Hut 8 from $24.00 to $64.00 and gave the company an “overweight” rating in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $65.56.

Hut 8 Stock Performance

NASDAQ:HUT opened at $53.23 on Friday. 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 firm’s fifty day simple moving average is $55.19 and its 200 day simple moving average is $44.06. The stock has a market cap of $5.90 billion, a P/E ratio of -22.94 and a beta of 4.42. Hut 8 has a twelve month low of $10.04 and a twelve month high of $66.07.

Institutional Trading of Hut 8

Several institutional investors have recently bought and sold shares of HUT. Northwestern Mutual Wealth Management Co. raised its holdings in Hut 8 by 4,669,387.4% in the fourth 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 during the last quarter. SRS Investment Management LLC purchased a new stake in shares of Hut 8 during the fourth quarter valued at approximately $131,838,000. Sachem Head Capital Management LP bought a new stake in shares of Hut 8 during the fourth quarter valued at approximately $129,780,000. Ameriprise Financial Inc. raised its holdings in Hut 8 by 1,043.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company’s stock worth $46,255,000 after acquiring an additional 2,269,237 shares during the last quarter. Finally, Oasis Management Co Ltd. raised its holdings in Hut 8 by 231.5% in the 4th quarter. Oasis Management Co Ltd. now owns 2,307,683 shares of the company’s stock worth $106,015,000 after acquiring an additional 1,611,653 shares during the last quarter. 31.75% of the stock is owned by hedge funds and other institutional investors.

Hut 8 News Summary

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

• Positive Sentiment: Hut 8 reported a Q4 beat with revenue up ~179% year‑over‑year, driven by Compute growth and a strategic pivot toward AI and power‑first infrastructure — this supports higher revenue trajectory and analyst enthusiasm. Zacks: Q4 earnings
• Positive Sentiment: Several brokerages either raised price targets or reaffirmed “buy” ratings — Canaccord to $70, Needham to $66, HC Wainwright reaffirmed at $80, Rosenblatt at $65 — giving upside targets well above current levels and likely supporting buying interest. Benzinga: analyst moves
• Positive Sentiment: Vertiv announced a collaboration with Hut 8 to scale AI data‑center deployments (Vertiv OneCore / digital twin approach), validating Hut 8’s push into AI infrastructure and potential revenue streams beyond pure crypto mining. PR Newswire: Vertiv collaboration
• Neutral Sentiment: Company Q4 2025 earnings call summary is available for detail on operational drivers and management commentary (useful for judging sustainability of Compute/AI momentum). Yahoo Finance: earnings call summary
• Neutral Sentiment: Coverage pieces comparing Hut 8 to peers and discussing valuation/policy tradeoffs have appeared — useful for longer‑term positioning but less likely to move the stock immediately. AAII: investment comparison
• Negative Sentiment: Northland Securities sharply cut EPS estimates across 2026 (Q1–Q4) and slashed FY2026 to ($0.81) from prior positive forecasts — a material downgrade that increases near‑term earnings risk and may have driven some selling/volatility. MarketBeat: analyst estimate changes

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.