Hut 8 (NASDAQ:HUT) Given New $124.00 Price Target at Rosenblatt Securities

Hut 8 (NASDAQ:HUT) had its target price raised by Rosenblatt Securities from $89.00 to $124.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also commented on HUT. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Hut 8 in a research report on Thursday, February 26th. Keefe, Bruyette & Woods increased their target price on shares of Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a research report on Tuesday, January 27th. Roth Mkm reaffirmed a “buy” rating and set a $80.00 target price on shares of Hut 8 in a report on Tuesday, January 27th. Citigroup reiterated an “outperform” rating on shares of Hut 8 in a research report on Tuesday, April 28th. Finally, BTIG Research boosted their price target on Hut 8 from $90.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday. Sixteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $99.94.

Hut 8 Stock Down 2.7%

HUT opened at $98.46 on Friday. The stock has a fifty day moving average of $60.68 and a 200-day moving average of $53.27. The company has a market capitalization of $11.09 billion, a P/E ratio of -32.82 and a beta of 4.48. Hut 8 has a fifty-two week low of $13.48 and a fifty-two week high of $111.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.09 and a current ratio of 0.86.

Insider Activity

In other news, CFO Sean Joseph Glennan sold 4,625 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $226,856.25. Following the completion of the transaction, the chief financial officer directly owned 12,068 shares in the company, valued at approximately $591,935.40. The trade was a 27.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victor Semah sold 10,518 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $76.83, for a total transaction of $808,097.94. Following the sale, the insider directly owned 41,378 shares of the company’s stock, valued at approximately $3,179,071.74. This trade represents a 20.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold 20,641 shares of company stock valued at $1,304,631 in the last ninety days. 11.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in Hut 8 by 1.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock worth $734,000 after acquiring an additional 254 shares in the last quarter. CWM LLC boosted its stake in shares of Hut 8 by 37.4% in the 4th quarter. CWM LLC now owns 1,106 shares of the company’s stock valued at $51,000 after purchasing an additional 301 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Hut 8 by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock valued at $331,000 after purchasing an additional 321 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Hut 8 by 1.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock valued at $996,000 after purchasing an additional 362 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Hut 8 by 4.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company’s stock valued at $413,000 after purchasing an additional 388 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

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.