Hut 8’s (HUT) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of Hut 8 (NASDAQ:HUT) in a research note published on Wednesday,Benzinga reports. The firm currently has a $130.00 price target on the stock.

Several other analysts have also issued reports on the stock. Freedom Capital upgraded shares of Hut 8 to a “strong-buy” rating in a report on Tuesday, August 18th. Compass Point set a $195.00 price target on shares of Hut 8 in a research report on Wednesday, July 22nd. Morgan Stanley assumed coverage on shares of Hut 8 in a research report on Thursday, July 23rd. They set an “overweight” rating and a $263.00 price target for the company. Piper Sandler boosted their price target on shares of Hut 8 from $127.00 to $143.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $124.00 price objective on shares of Hut 8 in a report on Wednesday, August 5th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $145.77.

Hut 8 Price Performance

HUT stock opened at $84.27 on Wednesday. Hut 8 has a 52-week low of $31.67 and a 52-week high of $140.80. The company has a quick ratio of 19.35, a current ratio of 19.35 and a debt-to-equity ratio of 4.22. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of -15.46 and a beta of 4.62. The business has a fifty day moving average of $90.07 and a two-hundred day moving average of $93.31.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The business had revenue of $74.93 million during the quarter, compared to analyst estimates of $79.37 million. Hut 8 had a negative net margin of 188.59% and a negative return on equity of 0.97%. During the same period last year, the company earned $1.18 EPS. As a group, research analysts anticipate that Hut 8 will post -2.98 earnings per share for the current year.

Insider Transactions at Hut 8

In other Hut 8 news, CFO Sean Glennan sold 6,445 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $78.76, for a total transaction of $507,608.20. Following the sale, the chief financial officer directly owned 17,978 shares in the company, valued at $1,415,947.28. This represents a 26.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mayo A. Shattuck III sold 20,000 shares of the business’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the sale, the director owned 89,408 shares in the company, valued at $8,940,800. This trade represents a 18.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 10.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Hut 8 during the 2nd quarter worth about $1,093,294,000. Sachem Head Capital Management LP purchased a new position in shares of Hut 8 in the 4th quarter valued at about $129,780,000. Oasis Management Co Ltd. grew its position in shares of Hut 8 by 231.5% during the fourth quarter. Oasis Management Co Ltd. now owns 2,307,683 shares of the company’s stock worth $106,015,000 after buying an additional 1,611,653 shares in the last quarter. Avala Global LP acquired a new position in shares of Hut 8 during the second quarter worth about $144,602,000. Finally, Wellington Management Group LLP acquired a new position in shares of Hut 8 during the second quarter worth about $97,949,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Key Stories Impacting Hut 8

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Roth Capital upgraded Hut 8 to “strong-buy,” reinforcing the bullish outlook for the company’s energy infrastructure and digital-compute strategy.
• Positive Sentiment: Analysts cited an average price target of $145.23, substantially above the recent trading level, suggesting significant potential upside if Hut 8 meets expectations. Hut 8 Corp. Stock Has Average Target Price of $145.23 According to Analysts
• Positive Sentiment: Unusual options activity showed investors acquiring 36,529 call contracts—about 78% above typical volume—indicating increased short-term bullish speculation around HUT.
• Positive Sentiment: Canaccord Genuity Group maintained its buy rating, providing additional support for the positive analyst consensus. Hut 8 Keeps Buy Rating at Canaccord Genuity Group
• Neutral Sentiment: Hut 8 will report third-quarter 2026 results before the market opens on November 4, followed by a conference call. The upcoming release is an important potential catalyst, particularly because investors will look for updates on revenue, profitability, power capacity and compute expansion. Hut 8 Schedules Third Quarter 2026 Earnings Release and Conference Call
• Neutral Sentiment: The reported October short-interest data showed zero shares short and a 0.0-day days-to-cover ratio. While this could imply limited measurable short-selling pressure, the reported “large increase” is inconsistent with the zero-share figure, reducing its usefulness as a trading signal.

Hut 8 Company Profile

Hut 8 Corp. (NASDAQ: HUT) is a North American energy infrastructure and digital asset mining company. Its operations include cryptocurrency mining, with a primary focus on Bitcoin, as well as the development and management of data center infrastructure supported by its energy resources.

The company owns and operates mining and data center facilities in the United States and Canada. In addition to self-mining digital assets, Hut 8 has pursued opportunities in high-performance computing and artificial intelligence infrastructure, using its power capacity, data center sites and related development capabilities to support evolving computing demand.

Hut 8 was originally established as Hut 8 Mining Corp., a Canadian cryptocurrency mining company.