Hut 8 (NASDAQ:HUT) Price Target Raised to $75.00

Hut 8 (NASDAQ:HUT) had its price objective increased by Keefe, Bruyette & Woods from $55.00 to $75.00 in a research note released on Tuesday, Marketbeat.com reports. They currently have a moderate buy rating on the stock.

A number of other equities research analysts also recently issued reports on HUT. Cantor Fitzgerald increased their price objective on shares of Hut 8 from $24.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Benchmark reaffirmed a “buy” rating on shares of Hut 8 in a report on Wednesday, December 17th. Canaccord Genuity Group lifted their price objective on shares of Hut 8 from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Rosenblatt Securities restated a “buy” rating and set a $65.00 price objective on shares of Hut 8 in a research report on Thursday, December 18th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $80.00 target price on shares of Hut 8 in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Hut 8 presently has an average rating of “Buy” and an average price target of $59.12.

Hut 8 Price Performance

Hut 8 stock opened at $61.53 on Tuesday. The firm has a market cap of $6.65 billion, a PE ratio of -157.77 and a beta of 4.41. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.72 and a quick ratio of 0.72. The stock’s fifty day moving average price is $49.77 and its two-hundred day moving average price is $39.05. Hut 8 has a one year low of $10.04 and a one year high of $66.07.

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

Institutional Trading of Hut 8

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC bought a new position in shares of Hut 8 in the 4th quarter valued at $30,000. CWM LLC grew its position in Hut 8 by 37.4% during the 4th quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after acquiring an additional 301 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Hut 8 by 1,578.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,393 shares of the company’s stock worth $64,000 after purchasing an additional 1,310 shares in the last quarter. Nisa Investment Advisors LLC raised its position in Hut 8 by 116.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,515 shares of the company’s stock valued at $28,000 after purchasing an additional 815 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in Hut 8 by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $30,000 after purchasing an additional 655 shares during the last quarter. Institutional investors own 31.75% of the company’s stock.

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.