Hut 8 (NASDAQ:HUT) Price Target Raised to $157.00

Hut 8 (NASDAQ:HUT) had its price target lifted by Keefe, Bruyette & Woods from $138.00 to $157.00 in a report published on Tuesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Several other brokerages have also recently issued reports on HUT. Weiss Ratings cut Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Citizens Jmp upped their target price on shares of Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 7th. BTIG Research raised their target price on shares of Hut 8 from $115.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Rosenblatt Securities reiterated a “buy” rating and issued a $124.00 price target on shares of Hut 8 in a research note on Tuesday, July 21st. Finally, Needham & Company LLC boosted their price target on shares of Hut 8 from $128.00 to $145.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Eighteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $137.20.

Hut 8 Stock Up 22.8%

Hut 8 stock opened at $108.27 on Tuesday. The firm has a market capitalization of $12.19 billion, a P/E ratio of -36.09 and a beta of 4.62. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. Hut 8 has a twelve month low of $18.68 and a twelve month high of $140.80. The stock’s fifty day simple moving average is $111.81 and its 200-day simple moving average is $80.64.

Hut 8 (NASDAQ:HUT) last released its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. The company had revenue of $139.31 million during the quarter, compared to analysts’ expectations of $78.53 million. As a group, equities analysts expect that Hut 8 will post -2.52 earnings per share for the current fiscal year.

Insider Transactions at Hut 8

In other Hut 8 news, Director Joseph Flinn sold 7,719 shares of Hut 8 stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $117.91, for a total transaction of $910,147.29. Following the transaction, the director owned 10,519 shares of the company’s stock, valued at $1,240,295.29. The trade was a 42.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Victor Semah sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following the completion of the sale, the insider owned 31,378 shares of the company’s stock, valued at approximately $3,922,250. This represents a 24.17% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 112,724 shares of company stock valued at $12,184,340 over the last quarter. Company insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Hut 8

Hedge funds have recently modified their holdings of the business. Arlington Trust Co LLC increased its stake 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 purchasing an additional 175 shares during the period. CoreCap Advisors LLC grew its holdings in shares of Hut 8 by 42.1% during the second quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock worth $62,000 after buying an additional 160 shares during the last quarter. GAMMA Investing LLC acquired a new position in Hut 8 in the 4th quarter valued at about $30,000. Imprint Wealth LLC purchased a new stake in Hut 8 during the 4th quarter valued at approximately $38,000. Finally, Harbor Investment Advisory LLC purchased a new stake in Hut 8 during the 1st quarter valued at approximately $47,000. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Hut 8 Company Profile

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.