Hut 8 (NASDAQ:HUT) Price Target Cut to $101.00 by Analysts at Needham & Company LLC

Hut 8 (NASDAQ:HUT) had its price target reduced by research analysts at Needham & Company LLC from $138.00 to $101.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC‘s target price would indicate a potential upside of 106.38% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company started coverage on Hut 8 in a research report on Thursday, September 17th. They issued an “overweight” rating and a $175.00 price target on the stock. Roth Capital started coverage on shares of Hut 8 in a research note on Wednesday, October 7th. They set a “buy” rating and a $108.00 price objective on the stock. Wall Street Zen cut shares of Hut 8 from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Compass Point set a $195.00 target price on shares of Hut 8 in a research report on Wednesday, July 22nd. Finally, UBS Group reaffirmed a “buy” rating on shares of Hut 8 in a research note on Thursday, October 8th. Four research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $144.00.

Hut 8 Trading Down 23.2%

Shares of Hut 8 stock opened at $48.94 on Thursday. The business has a fifty day simple moving average of $82.41 and a 200-day simple moving average of $82.28. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of -8.98 and a beta of 4.53. The company has a quick ratio of 19.35, a current ratio of 19.35 and a debt-to-equity ratio of 4.22. Hut 8 has a fifty-two week low of $31.67 and a fifty-two week high of $140.80.

Hut 8 (NASDAQ:HUT) last released its earnings results on Wednesday, August 5th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.72). Hut 8 had a negative net margin of 188.59% and a negative return on equity of 0.97%. The business had revenue of $74.93 million for the quarter, compared to analysts’ expectations of $79.37 million. During the same period last year, the firm earned $1.18 EPS. On average, equities analysts forecast that Hut 8 will post -2.93 EPS for the current fiscal year.

Insider Activity at Hut 8

In other news, CFO Sean Glennan sold 6,445 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $78.76, for a total transaction of $507,608.20. Following the completion of the transaction, the chief financial officer directly owned 17,978 shares of the company’s stock, valued at $1,415,947.28. This represents a 26.39% decrease in their position. The transaction was disclosed in a legal filing 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 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 completion of the sale, the director directly owned 89,408 shares in the company, valued at approximately $8,940,800. The trade was a 18.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.40% of the stock is currently owned by insiders.

Institutional Trading of Hut 8

Several large investors have recently modified their holdings of HUT. GK Wealth Management LLC purchased a new stake in shares of Hut 8 in the 3rd quarter worth approximately $25,000. Arlington Trust Co LLC raised its stake in Hut 8 by 175.0% during the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock worth $32,000 after acquiring an additional 175 shares during the period. Heritage Family Offices LLP bought a new position in Hut 8 in the 3rd quarter worth $35,000. Parkside Financial Bank & Trust grew its holdings in Hut 8 by 258.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 380 shares of the company’s stock valued at $44,000 after buying an additional 274 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Hut 8 in the third quarter worth about $50,000. 31.75% of the stock is owned by institutional investors.

Hut 8 News Roundup

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

• Positive Sentiment: Hut 8 signed a second 352-megawatt lease at its Beacon Point campus. The company says the lease brings expected aggregate base-term contract value across its AI data-center portfolio to about $26.6 billion. Management expects 700 megawatts of Beacon Point capacity to be energized in Q1 2027; delivery and execution remain important milestones. Hut 8 Reports Third Quarter 2026 Results
• Positive Sentiment: The company expanded its share-repurchase authorization to $1 billion after repurchasing $250 million of stock, and closed a $1.07 billion revolving credit facility. These moves add capital flexibility and signal a commitment to shareholder returns, though authorization does not mean the full amount will be used. Hut 8 expands buyback authorization
• Positive Sentiment: Hut 8 increased energy capacity under exclusivity by 1,300 megawatts to 3,180 megawatts and reported a 7,859-megawatt development pipeline. The expansion supports its AI infrastructure ambitions, but much of the pipeline is still in development rather than operating. Hut 8 Reports Third Quarter 2026 Results
• Negative Sentiment: Q3 results fell short of estimates: Hut 8 reported a loss of $1.23 per share versus the Zacks consensus estimate of a $1.06 loss, while revenue also missed expectations. The larger loss than analysts expected may weigh on sentiment. Hut 8 Q3 earnings report
• Negative Sentiment: Hut 8 sold 3,102 bitcoin to fund $250 million in share repurchases. While the buyback returns capital, the sale reduces its Bitcoin holdings and may concern investors who prefer exposure to potential Bitcoin appreciation. Hut 8 Bitcoin sale and buyback

Hut 8 Company Profile

Hut 8 Corp. is a North American energy infrastructure and computing company whose business includes digital asset mining, high-performance computing and data center operations. The company develops and manages power and infrastructure assets intended to support energy-intensive computing applications.

Hut 8’s activities have historically centered on Bitcoin mining, supported by company-operated data centers and specialized mining equipment. It also provides infrastructure for emerging computing applications, including artificial intelligence and other high-performance computing workloads, as it seeks to expand beyond cryptocurrency mining.

The company was established in Canada and expanded its operations in the United States through its combination with U.S.