Analysts Set Hut 8 Corp. (NASDAQ:HUT) Target Price at $59.12

Shares of Hut 8 Corp. (NASDAQ:HUT) have been assigned a consensus rating of “Buy” from the eighteen research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, fifteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $62.3529.

HUT has been the subject of several recent analyst reports. Wall Street Zen raised shares of Hut 8 from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Rosenblatt Securities restated a “buy” rating and set a $65.00 price target on shares of Hut 8 in a report on Thursday, December 18th. Northland Securities set a $58.00 price target on Hut 8 in a research report on Wednesday, November 5th. JMP Securities lifted their price objective on Hut 8 from $25.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 21st. Finally, Canaccord Genuity Group increased their target price on Hut 8 from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, December 18th.

Institutional Investors Weigh In On Hut 8

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Steadview Capital Management LLC increased its position in Hut 8 by 1,425.3% during the fourth quarter. Steadview Capital Management LLC now owns 431,655 shares of the company’s stock worth $19,830,000 after acquiring an additional 403,355 shares during the period. Global Retirement Partners LLC grew its position in Hut 8 by 37.6% in the 4th quarter. Global Retirement Partners LLC now owns 4,608 shares of the company’s stock worth $212,000 after purchasing an additional 1,259 shares during the last quarter. Leonteq Securities AG bought a new position in shares of Hut 8 during the 4th quarter worth about $255,000. IFP Advisors Inc raised its position in shares of Hut 8 by 18.7% during the fourth quarter. IFP Advisors Inc now owns 5,657 shares of the company’s stock valued at $260,000 after buying an additional 893 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new position in shares of Hut 8 during the fourth quarter valued at about $4,474,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Stock Up 19.3%

Shares of Hut 8 stock opened at $53.06 on Friday. Hut 8 has a 12-month low of $10.04 and a 12-month high of $66.07. 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 stock has a 50 day moving average price of $51.35 and a two-hundred day moving average price of $40.51. The stock has a market capitalization of $5.73 billion, a P/E ratio of -136.05 and a beta of 4.42.

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.