Needham & Company LLC Cuts Hut 8 (NASDAQ:HUT) Price Target to $138.00

Hut 8 (NASDAQ:HUT) had its price objective dropped by equities research analysts at Needham & Company LLC from $145.00 to $138.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 36.42% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Morgan Stanley assumed coverage on Hut 8 in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $263.00 price objective on the stock. Compass Point set a $195.00 target price on shares of Hut 8 in a research note on Wednesday, July 22nd. Northland Securities set a $120.00 price target on shares of Hut 8 in a research note on Thursday, May 7th. Wall Street Zen cut shares of Hut 8 from a “sell” rating to a “strong sell” rating in a report on Saturday. Finally, Citizens Jmp increased their target price on Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 7th. Eighteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Hut 8 has an average rating of “Moderate Buy” and an average target price of $138.50.

Hut 8 Trading Down 9.7%

NASDAQ:HUT opened at $101.16 on Wednesday. Hut 8 has a 12 month low of $18.68 and a 12 month high of $140.80. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average is $111.74 and its 200 day moving average is $81.63. The stock has a market capitalization of $11.39 billion, a PE ratio of -33.72 and a beta of 4.64.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings data on Tuesday, August 4th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The firm had revenue of $72.66 million for the quarter, compared to the consensus estimate of $79.37 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. During the same period last year, the company posted $1.18 earnings per share. Sell-side analysts expect that Hut 8 will post -2.54 earnings per share for the current year.

Insider Activity at Hut 8

In other Hut 8 news, insider Victor Semah sold 10,000 shares of Hut 8 stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the insider owned 31,378 shares of the company’s stock, valued at $3,922,250. The trade was a 24.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Flinn sold 7,719 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $117.91, for a total value of $910,147.29. Following the transaction, the director directly owned 10,519 shares in the company, valued at approximately $1,240,295.29. This represents a 42.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 102,206 shares of company stock valued at $11,376,242. 10.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. CoreCap Advisors LLC increased its position in shares of Hut 8 by 42.1% in the second quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock valued at $62,000 after acquiring an additional 160 shares during the period. Arlington Trust Co LLC boosted its holdings in Hut 8 by 175.0% in the second quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock valued at $32,000 after acquiring an additional 175 shares in the last quarter. GAMMA Investing LLC raised its holdings in Hut 8 by 35.0% in the 2nd quarter. GAMMA Investing LLC now owns 1,057 shares of the company’s stock worth $122,000 after purchasing an additional 274 shares in the last quarter. CWM LLC boosted its stake in shares of Hut 8 by 37.4% during 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Hut 8 by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock worth $996,000 after buying an additional 362 shares during the period. 31.75% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Hut 8

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

• Positive Sentiment: Hut 8 reported significant progress in its power-first strategy, including 949 megawatts of contracted AI data-center capacity, approximately $26.6 billion in expected aggregate base-term contract value and more than $1.75 billion in expected average annual NOI. Hut 8 Reports Second Quarter 2026 Results
• Positive Sentiment: The company secured $7.5 billion of fully amortizing, investment-grade project financing without parent-level recourse or equity dilution. Management also completed commercialization of its first gigawatt-scale AI campus and signed a subsequent 352-megawatt lease at Beacon Point, which targets roughly $9.8 billion in base-term value. Hut 8 Outlines 8.7 GW Pipeline
• Positive Sentiment: A bullish investment view argues that improving adjusted EBITDA and expanded gross margins—reported at 64%—could make Hut 8’s future contracted cash flows more valuable as the AI infrastructure buildout progresses. Hut 8 Q2 2026: Buy the Transition Before It Shows in Earnings
• Neutral Sentiment: Unusually heavy options activity saw investors purchase 25,995 call options, about 25% above typical volume. This may indicate speculative bullish positioning but does not confirm a fundamental change in valuation.
• Negative Sentiment: Quarterly results missed key expectations: revenue was $72.66 million versus the $79.37 million analyst estimate, while the reported GAAP loss per share was wider than consensus in the company’s earnings coverage. Losses were also affected by bitcoin mark-to-market volatility, highlighting continued earnings exposure to cryptocurrency prices. Hut 8 Second Quarter Earnings Report

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.