Hut 8 (NASDAQ:HUT) Stock Price Expected to Rise, BTIG Research Analyst Says

Hut 8 (NASDAQ:HUT) had its target price upped by stock analysts at BTIG Research from $90.00 to $115.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target would indicate a potential upside of 13.66% from the stock’s previous close.

Several other research firms have also recently commented on HUT. Canaccord Genuity Group raised their target price on shares of Hut 8 from $62.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Citigroup restated an “outperform” rating on shares of Hut 8 in a research note on Tuesday, April 28th. Keefe, Bruyette & Woods raised 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 note on Tuesday, January 27th. Wall Street Zen cut shares of Hut 8 from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Needham & Company LLC raised their target price on shares of Hut 8 from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Sixteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Hut 8 presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.25.

Hut 8 Stock Down 7.1%

HUT stock opened at $101.18 on Wednesday. Hut 8 has a one year low of $12.81 and a one year high of $111.33. The stock has a market capitalization of $11.39 billion, a PE ratio of -33.73 and a beta of 4.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.09 and a current ratio of 1.09. The company has a fifty day moving average of $60.68 and a 200-day moving average of $53.27.

Insider Transactions at Hut 8

In other news, insider Victor Semah sold 10,518 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $76.83, for a total value of $808,097.94. Following the completion of the transaction, the insider owned 41,378 shares in the company, valued at $3,179,071.74. This trade represents a 20.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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. Also, CFO Sean Joseph Glennan sold 4,625 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total transaction of $226,856.25. Following the completion of the transaction, the chief financial officer owned 12,068 shares of the company’s stock, valued at $591,935.40. This represents a 27.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 20,641 shares of company stock valued at $1,304,631 in the last quarter. Insiders own 11.20% of the company’s stock.

Hedge Funds Weigh In On Hut 8

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Hut 8 by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock valued at $366,526,000 after acquiring an additional 250,320 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Hut 8 by 4,669,387.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock valued at $186,629,000 after acquiring an additional 4,062,367 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Hut 8 by 20.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock valued at $104,133,000 after acquiring an additional 504,652 shares in the last quarter. SRS Investment Management LLC purchased a new position in Hut 8 during the 4th quarter valued at about $131,838,000. Finally, Sachem Head Capital Management LP purchased a new position in Hut 8 during the 4th quarter valued at about $129,780,000. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Hut 8 News Summary

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

• Positive Sentiment: Hut 8 signed a 15‑year, 352 MW triple‑net lease for its Beacon Point AI campus in Nueces County, Texas with a high‑investment‑grade tenant, representing roughly $9.8B in base‑term contract value (up to ~$25.1B with renewals). The deal validates Hut 8’s pivot to hyperscale AI data centers and materially expands contracted revenue. Beacon Point Lease PR
• Positive Sentiment: Multiple brokerages have aggressively raised price targets and kept buy/overweight ratings this week (Canaccord to $130, Citizens JMP to $140, Needham to $128, Piper to $127, BTIG to $115), reflecting conviction in the AI‑data‑center growth path and supporting medium‑term upside. Canaccord PT Raise
• Neutral Sentiment: CEO Asher Genoot is publicly pitching the “crypto → AI power” story and demand visibility on TV and investor outlets, which helps narrative and investor confidence but doesn’t change near‑term cash flow. CEO Interview
• Neutral Sentiment: Operational update: Hut 8 says Beacon Point Phase 1 is commercialized and River Bend development continues; management disclosed $9M–$11M per MW capex guidance for project delivery, which frames future cash requirements and project economics. Capex / Beacon Point Commentary
• Negative Sentiment: Profit‑taking and a mechanical pullback after a massive 30–35% one‑day surge: the prior session’s move on the Beacon Point lease and analyst re‑ratings left the stock extended; today’s decline appears driven by short‑term profit‑taking and higher‑than‑average volume. Why HUT Is Falling
• Negative Sentiment: Underlying profitability remains a concern: Q1 showed strong revenue growth but wide losses (reported EPS and negative margins; management provided slide deck and press release). Investors weighing long‑dated lease backlog against current cash flow and large project capex may trim positions until execution and margins are clearer. Q1 Results / Press Release

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.