Hut 8’s (HUT) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Hut 8 (NASDAQ:HUT) in a report published on Thursday,Benzinga reports. Needham & Company LLC currently has a $60.00 price target on the stock.

A number of other analysts have also recently issued reports on HUT. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hut 8 in a report on Monday, December 15th. Wall Street Zen raised shares of Hut 8 from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. JMP Securities boosted their price objective on shares of Hut 8 from $25.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 21st. BTIG Research reissued a “buy” rating and issued a $55.00 price objective on shares of Hut 8 in a research report on Wednesday. Finally, B. Riley restated a “buy” rating on shares of Hut 8 in a report on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $53.76.

Hut 8 Trading Up 14.3%

HUT stock opened at $44.12 on Thursday. 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 company has a market cap of $4.77 billion, a price-to-earnings ratio of -113.13 and a beta of 4.41. The business has a fifty day simple moving average of $43.68 and a 200-day simple moving average of $31.66. Hut 8 has a 52 week low of $10.04 and a 52 week high of $57.29.

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

Institutional Investors Weigh In On Hut 8

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HUT. Nisa Investment Advisors LLC lifted its holdings in Hut 8 by 116.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,515 shares of the company’s stock worth $28,000 after buying an additional 815 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Hut 8 by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock worth $30,000 after acquiring an additional 655 shares during the last quarter. State of Wyoming purchased a new stake in shares of Hut 8 during the first quarter worth about $32,000. Russell Investments Group Ltd. lifted its stake in shares of Hut 8 by 235.8% in the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after acquiring an additional 1,719 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in Hut 8 by 67.2% in the third quarter. NewEdge Advisors LLC now owns 2,257 shares of the company’s stock valued at $79,000 after purchasing an additional 907 shares during the last quarter. 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.