Benchmark Forecasts Strong Price Appreciation for Hut 8 (NASDAQ:HUT) Stock

Hut 8 (NASDAQ:HUT) had its price objective hoisted by Benchmark from $165.00 to $195.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price target suggests a potential upside of 65.72% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Jefferies Financial Group assumed coverage on shares of Hut 8 in a research note on Thursday, May 14th. They issued a “buy” rating and a $156.00 price target on the stock. Loop Capital set a $226.00 price objective on shares of Hut 8 in a research report on Monday, June 22nd. Canaccord Genuity Group upped their target price on shares of Hut 8 from $70.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Cantor Fitzgerald increased their target price on shares of Hut 8 from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Finally, Piper Sandler increased their target price on shares of Hut 8 from $93.00 to $127.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Eighteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.10.

Hut 8 Trading Up 7.1%

HUT opened at $117.67 on Wednesday. Hut 8 has a one year low of $18.68 and a one year high of $140.80. The company has a market cap of $13.25 billion, a P/E ratio of -39.22 and a beta of 4.62. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50-day simple moving average is $111.44 and its 200-day simple moving average 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). The business had revenue of $139.31 million for the quarter, compared to analyst estimates of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. As a group, equities research analysts expect that Hut 8 will post -1.29 EPS for the current fiscal year.

Insider Transactions at Hut 8

In other news, insider Victor Semah sold 10,518 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $76.83, for a total value of $808,097.94. Following the completion of the sale, the insider directly owned 41,378 shares of the company’s stock, valued at approximately $3,179,071.74. This represents a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Rick Rickertsen sold 17,491 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total value of $1,924,010.00. Following the completion of the sale, the director directly owned 17,491 shares of the company’s stock, valued at $1,924,010. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 112,724 shares of company stock worth $12,184,340. 10.40% of the stock is owned by corporate insiders.

Institutional Trading of Hut 8

Several institutional investors and hedge funds have recently bought and sold shares of HUT. Northwestern Mutual Wealth Management Co. raised its holdings in shares of 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 valued at $186,629,000 after buying an additional 4,062,367 shares during the last quarter. SRS Investment Management LLC acquired a new stake in shares of Hut 8 during the fourth quarter worth about $131,838,000. Sachem Head Capital Management LP purchased a new position in shares of Hut 8 during the fourth quarter worth about $129,780,000. Ameriprise Financial Inc. grew its holdings in shares of Hut 8 by 1,043.0% during the second quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company’s stock worth $46,255,000 after buying an additional 2,269,237 shares during the last quarter. Finally, Oasis Management Co Ltd. increased its position 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 valued at $106,015,000 after acquiring an additional 1,611,653 shares during the period. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Trending Headlines about Hut 8

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)

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.