Hut 8 (NASDAQ:HUT) Trading Up 6.7% Following Analyst Upgrade

Hut 8 Corp. (NASDAQ:HUT)’s stock price shot up 6.7% on Thursday after Keefe, Bruyette & Woods raised their price target on the stock from $30.00 to $55.00. Keefe, Bruyette & Woods currently has an outperform rating on the stock. Hut 8 traded as high as $45.64 and last traded at $42.8360. 2,984,835 shares changed hands during mid-day trading, a decline of 52% from the average session volume of 6,189,044 shares. The stock had previously closed at $40.16.

Several other equities analysts have also recently weighed in on the company. Piper Sandler reiterated an “overweight” rating on shares of Hut 8 in a report on Thursday. Canaccord Genuity Group raised their target price on shares of Hut 8 from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Hut 8 in a research note on Thursday. Citigroup reiterated an “outperform” rating on shares of Hut 8 in a report on Tuesday, October 21st. Finally, Benchmark reissued a “buy” rating on shares of Hut 8 in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Hut 8 presently has a consensus rating of “Buy” and a consensus target price of $53.76.

Key Headlines Impacting Hut 8

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

• Positive Sentiment: Multiple broker upgrades and higher price targets (KBW raised its PT to $55 and set an “outperform” rating), providing fresh analyst support and implied upside. KBW raises PT to $55
• Positive Sentiment: Canaccord raised its PT to $62 (buy), while Needham and Rosenblatt reaffirmed buy ratings with $60 and $65 PTs — broad analyst momentum that can attract more buyer interest. Canaccord raises PT to $62
• Positive Sentiment: BTIG reiterated a “Buy” rating, adding to the consensus of bullish analyst views. BTIG reiterates Buy
• Positive Sentiment: Hut 8 announced a major long‑term commercial data‑center arrangement (reported as a $7B River Bend lease) and management says it could be the “first domino” toward larger cloud/AI infrastructure partnerships — materially increases predictable revenue and cash‑flow runway. CEO: $7B deal is ‘first domino’ River Bend $7B lease
• Positive Sentiment: Investment‑bank commentary (Morgan Stanley) and coverage (The Motley Fool) highlight that the Anthropic/FluidStack/Google relationships and the River Bend lease set a high benchmark and could drive substantial operating profit (reports cite ~ $450M potential annual operating profit), supporting higher valuation expectations. Morgan Stanley: deal sets high water mark Fool: deal could drive big profits
• Positive Sentiment: Unusual options activity: heavy call buying has been reported, consistent with short‑term bullish trader positioning. Call options activity
• Neutral Sentiment: Several bullish writeups and bull‑case analyses (InsiderMonkey, Yahoo/Analyst Substack) summarize upside scenarios but note execution risk — useful for longer‑term thesis but less likely to move price alone. Bull case summary
• Neutral Sentiment: Ongoing media coverage (video segments, Benzinga summaries) amplifies visibility; helpful for flows but not a direct fundamental catalyst. Benzinga coverage

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Hut 8 by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,728,037 shares of the company’s stock valued at $269,013,000 after buying an additional 140,248 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Hut 8 by 20.3% during the third 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. Geode Capital Management LLC raised its position in Hut 8 by 13.7% during the second quarter. Geode Capital Management LLC now owns 2,563,091 shares of the company’s stock worth $47,679,000 after acquiring an additional 309,113 shares in the last quarter. Value Aligned Research Advisors LLC lifted its stake in Hut 8 by 110.2% in the third quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company’s stock valued at $67,845,000 after acquiring an additional 1,021,955 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Hut 8 by 45.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,555,800 shares of the company’s stock valued at $54,156,000 after acquiring an additional 486,721 shares during the last quarter. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Trading Up 14.3%

The company has a market cap of $4.77 billion, a P/E ratio of -113.13 and a beta of 4.41. The business’s 50-day moving average price is $43.68 and its 200 day moving average price is $31.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.72 and a current ratio of 0.72.

Hut 8 (NASDAQ:HUT) last issued its earnings results on Tuesday, November 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. Hut 8 had a net margin of 115.39% and a return on equity of 8.06%. The company had revenue of $80.72 million for the quarter, compared to analysts’ expectations of $64.70 million. As a group, analysts expect that Hut 8 Corp. will post -0.53 earnings per share for the current 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.