Hut 8 (NASDAQ:HUT) Stock Rating Reaffirmed as Buy by Canaccord Genuity Group

Hut 8 (NASDAQ:HUT)‘s stock had its “buy” rating reaffirmed by stock analysts at Canaccord Genuity Group in a report released on Wednesday, Benzinga reports. They presently have a $130.00 target price on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 54.27% from the stock’s previous close.

HUT has been the subject of a number of other research reports. Weiss Ratings downgraded shares of Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, August 19th. Morgan Stanley initiated coverage on shares of Hut 8 in a research report on Thursday, July 23rd. They set an “overweight” rating and a $263.00 price target for the company. Benchmark raised their price objective on Hut 8 from $165.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Rothschild & Co Redburn initiated coverage on Hut 8 in a research note on Monday, September 21st. They set a “neutral” rating and a $96.00 price objective on the stock. Finally, Compass Point set a $195.00 price objective on Hut 8 in a research note on Wednesday, July 22nd. Four investment 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 given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $145.77.

Hut 8 Stock Up 5.9%

Shares of HUT stock traded up $4.68 during mid-day trading on Wednesday, reaching $84.27. 6,370,867 shares of the company were exchanged, compared to its average volume of 4,854,614. Hut 8 has a fifty-two week low of $31.67 and a fifty-two week high of $140.80. The company has a debt-to-equity ratio of 4.22, a quick ratio of 19.35 and a current ratio of 19.35. The company has a market capitalization of $10.39 billion, a P/E ratio of -15.46 and a beta of 4.62. The business’s 50 day simple moving average is $90.07 and its 200 day simple moving average is $93.31.

Hut 8 (NASDAQ:HUT) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72). Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%.The company had revenue of $74.93 million for the quarter, compared to analyst estimates of $79.37 million. During the same period in the previous year, the business posted $1.18 EPS. Research analysts predict that Hut 8 will post -2.98 earnings per share for the current year.

Insiders Place Their Bets

In other Hut 8 news, Director Mayo A. Shattuck III sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $100.00, for a total value of $2,000,000.00. Following the sale, the director directly owned 89,408 shares in the company, valued at approximately $8,940,800. This trade represents a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Sean Glennan sold 6,445 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $78.76, for a total value of $507,608.20. Following the completion of the sale, the chief financial officer owned 17,978 shares in the company, valued at $1,415,947.28. The trade was a 26.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 10.40% of the company’s stock.

Institutional Investors Weigh In On Hut 8

Hedge funds and other institutional investors have recently modified their holdings of the stock. GK Wealth Management LLC acquired a new position in Hut 8 during the third quarter worth about $25,000. Arlington Trust Co LLC lifted its stake in Hut 8 by 175.0% during the second quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock valued at $32,000 after buying an additional 175 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Hut 8 by 258.5% during the second 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. Harbor Investment Advisory LLC purchased a new stake in Hut 8 during the first quarter valued at about $47,000. Finally, CoreCap Advisors LLC lifted its stake in Hut 8 by 42.1% during the second quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock valued at $62,000 after buying an additional 160 shares in the last quarter. 31.75% of the stock is currently owned by institutional investors.

Key Headlines Impacting Hut 8

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

• Positive Sentiment: Roth Capital upgraded Hut 8 to “strong-buy,” reinforcing the bullish outlook for the company’s energy infrastructure and digital-compute strategy.
• Positive Sentiment: Analysts cited an average price target of $145.23, substantially above the recent trading level, suggesting significant potential upside if Hut 8 meets expectations. Hut 8 Corp. Stock Has Average Target Price of $145.23 According to Analysts
• Positive Sentiment: Unusual options activity showed investors acquiring 36,529 call contracts—about 78% above typical volume—indicating increased short-term bullish speculation around HUT.
• Positive Sentiment: Canaccord Genuity Group maintained its buy rating, providing additional support for the positive analyst consensus. Hut 8 Keeps Buy Rating at Canaccord Genuity Group
• Neutral Sentiment: Hut 8 will report third-quarter 2026 results before the market opens on November 4, followed by a conference call. The upcoming release is an important potential catalyst, particularly because investors will look for updates on revenue, profitability, power capacity and compute expansion. Hut 8 Schedules Third Quarter 2026 Earnings Release and Conference Call
• Neutral Sentiment: The reported October short-interest data showed zero shares short and a 0.0-day days-to-cover ratio. While this could imply limited measurable short-selling pressure, the reported “large increase” is inconsistent with the zero-share figure, reducing its usefulness as a trading signal.

Hut 8 Company Profile

Hut 8 Corp. (NASDAQ: HUT) is a North American energy infrastructure and digital asset mining company. Its operations include cryptocurrency mining, with a primary focus on Bitcoin, as well as the development and management of data center infrastructure supported by its energy resources.

The company owns and operates mining and data center facilities in the United States and Canada. In addition to self-mining digital assets, Hut 8 has pursued opportunities in high-performance computing and artificial intelligence infrastructure, using its power capacity, data center sites and related development capabilities to support evolving computing demand.

Hut 8 was originally established as Hut 8 Mining Corp., a Canadian cryptocurrency mining company.