Keefe, Bruyette & Woods Boosts Hut 8 (NASDAQ:HUT) Price Target to $75.00

Hut 8 (NASDAQ:HUT) had its price target lifted by stock analysts at Keefe, Bruyette & Woods from $55.00 to $75.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 16.10% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Northland Securities set a $58.00 target price on Hut 8 in a research note on Wednesday, November 5th. Roth Mkm reissued a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a research report on Tuesday. Canaccord Genuity Group increased 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, December 18th. Craig Hallum reaffirmed a “buy” rating and issued a $80.00 target price on shares of Hut 8 in a research report on Thursday, December 18th. Finally, Piper Sandler reissued an “overweight” rating on shares of Hut 8 in a research report on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $59.12.

Hut 8 Price Performance

HUT stock opened at $64.60 on Tuesday. The stock has a 50-day moving average price of $49.21 and a two-hundred day moving average price of $38.89. Hut 8 has a 1 year low of $10.04 and a 1 year high of $66.07. The stock has a market cap of $6.98 billion, a PE ratio of -165.64 and a beta of 4.41. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HUT. Ameriprise Financial Inc. lifted its stake 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 valued at $46,255,000 after purchasing an additional 2,269,237 shares during the last quarter. Value Aligned Research Advisors LLC raised 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 buying an additional 1,021,955 shares during the period. Voloridge Investment Management LLC acquired a new stake in shares of Hut 8 in the third quarter valued at approximately $35,044,000. Nishkama Capital LLC acquired a new stake in shares of Hut 8 in the third quarter valued at approximately $28,137,000. Finally, Thames Capital Management LLC bought a new position in shares of Hut 8 during the 3rd quarter worth approximately $25,084,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

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.