Hut 8’s (HUT) Buy Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of Hut 8 (NASDAQ:HUT) in a research report sent to investors on Wednesday, Marketbeat reports. They currently have a $55.00 price target on the stock.

A number of other equities research analysts have also issued reports on the stock. Northland Securities set a $58.00 price target on shares of Hut 8 in a report on Wednesday, November 5th. Benchmark raised their target price on Hut 8 from $36.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Hut 8 in a report on Monday. Cantor Fitzgerald increased their price objective on Hut 8 from $24.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Finally, Wall Street Zen raised Hut 8 from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Hut 8 currently has an average rating of “Buy” and an average price target of $53.76.

Hut 8 Price Performance

HUT opened at $44.12 on Wednesday. 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 50 day simple moving average is $43.68 and its 200 day simple moving average is $31.55. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of -113.13 and a beta of 4.41. Hut 8 has a 1 year low of $10.04 and a 1 year high of $57.29.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. boosted its holdings in Hut 8 by 1,043.0% in the second quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company’s stock worth $46,255,000 after acquiring an additional 2,269,237 shares in the last quarter. Value Aligned Research Advisors LLC boosted its stake in Hut 8 by 110.2% in the 3rd quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company’s stock worth $67,845,000 after purchasing an additional 1,021,955 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Hut 8 in the 3rd quarter worth about $35,044,000. Nishkama Capital LLC purchased a new stake in Hut 8 during the 3rd quarter valued at about $28,137,000. Finally, Thames Capital Management LLC bought a new stake in Hut 8 during the 3rd quarter valued at about $25,084,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

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

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.