Hut 8 (NASDAQ:HUT) Price Target Raised to $115.00

Hut 8 (NASDAQ:HUT) had its price objective lifted by BTIG Research from $90.00 to $115.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

HUT has been the topic of a number of other reports. Arete Research assumed coverage on shares of Hut 8 in a report on Monday, March 23rd. They set a “buy” rating and a $136.00 target price on the stock. Cantor Fitzgerald upped their price objective on Hut 8 from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Wall Street Zen cut Hut 8 from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Canaccord Genuity Group lifted their target price on Hut 8 from $62.00 to $70.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, Piper Sandler boosted their target price on Hut 8 from $74.00 to $93.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. Sixteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.94.

Hut 8 Trading Down 2.7%

NASDAQ HUT opened at $98.46 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.09 and a current ratio of 0.86. The firm has a market cap of $11.09 billion, a price-to-earnings ratio of -32.82 and a beta of 4.48. The firm has a 50 day simple moving average of $60.68 and a 200-day simple moving average of $53.27. Hut 8 has a one year low of $13.48 and a one year high of $111.33.

Insider Buying and Selling

In related news, insider Victor Semah sold 10,518 shares of the stock in a transaction on Monday, May 4th. The shares were sold at an average price of $76.83, for a total value of $808,097.94. Following the transaction, the insider directly owned 41,378 shares of the company’s stock, valued at $3,179,071.74. This trade represents a 20.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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, CFO Sean Joseph Glennan sold 4,625 shares of Hut 8 stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the sale, the chief financial officer owned 12,068 shares in the company, valued at $591,935.40. This represents a 27.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 20,641 shares of company stock worth $1,304,631. 11.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hut 8

Several hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its position in shares of Hut 8 by 27.6% during the first quarter. PNC Financial Services Group Inc. now owns 2,194 shares of the company’s stock worth $103,000 after purchasing an additional 474 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Hut 8 by 1,092.6% in the 1st quarter. Meeder Asset Management Inc. now owns 55,909 shares of the company’s stock valued at $2,623,000 after purchasing an additional 51,221 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Hut 8 by 11.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 207,619 shares of the company’s stock valued at $9,717,000 after purchasing an additional 20,813 shares during the period. Swiss National Bank grew its stake in Hut 8 by 0.4% during the 1st quarter. Swiss National Bank now owns 195,940 shares of the company’s stock worth $9,192,000 after buying an additional 800 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Hut 8 by 9.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,198 shares of the company’s stock worth $436,000 after buying an additional 823 shares during the period. 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: Hut 8 signed a major Texas data center lease, including a reported $9.8 billion campus agreement and a separate 352MW lease with an investment-grade tenant, underscoring strong demand for its AI infrastructure strategy. Hut 8 signs 352MW data center lease in Texas with investment grade tenant
• Positive Sentiment: Canaccord Genuity, Rosenblatt, Citizens JMP, Needham, and Piper Sandler all raised price targets and kept bullish ratings, signaling growing confidence in Hut 8’s transition from crypto mining to AI data infrastructure. Analyst price target updates
• Positive Sentiment: Management highlighted accelerating demand and defended the company’s crypto-to-AI power story, which may be helping support investor sentiment after recent skepticism. Hut 8 CEO: Investor skepticism on crypto to AI power story is over
• Positive Sentiment: Recent earnings-related coverage noted revenue more than tripled year over year, helping explain the stock’s strong upward momentum and renewed enthusiasm around execution. Hut 8 revenues more-than-triple, shares hit all-time high
• Neutral Sentiment: Hut 8 also outlined its capital intensity for AI buildouts and targeted initial data hall delivery in Q2 2027, which shows a long runway but also reminds investors the expansion will take time. Hut 8 outlines capex and delivery timeline
• Negative Sentiment: Some traders took profits after the stock’s sharp prior-day surge, with coverage noting the shares were lower following a very large move higher earlier in the week. Why Is Hut 8 Stock Falling On Thursday?

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.