Needham & Company LLC Raises Hut 8 (NASDAQ:HUT) Price Target to $66.00

Hut 8 (NASDAQ:HUT) had its target price upped by investment analysts at Needham & Company LLC from $60.00 to $66.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 19.35% from the stock’s previous close.

A number of other brokerages also recently weighed in on HUT. Northland Securities set a $58.00 target price on Hut 8 in a report on Wednesday, November 5th. Wall Street Zen raised shares of Hut 8 from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Hut 8 in a research report on Monday, December 29th. Piper Sandler reissued an “overweight” rating on shares of Hut 8 in a research note on Thursday, December 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $65.00 price target on shares of Hut 8 in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $65.06.

Hut 8 Stock Performance

HUT stock opened at $55.30 on Thursday. The firm has a market cap of $5.97 billion, a PE ratio of -141.79 and a beta of 4.42. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $54.68 and a 200-day moving average price of $43.60. Hut 8 has a 1-year low of $10.04 and a 1-year high of $66.07.

Institutional Trading of Hut 8

Large investors have recently modified their holdings of the business. GAMMA Investing LLC bought a new position in Hut 8 during the 4th quarter valued at approximately $30,000. Imprint Wealth LLC purchased a new position in shares of Hut 8 during the fourth quarter valued at approximately $38,000. Activest Wealth Management bought a new position in shares of Hut 8 during the fourth quarter valued at approximately $49,000. Danske Bank A S bought a new position in shares of Hut 8 during the fourth quarter valued at approximately $51,000. Finally, CWM LLC lifted its stake in Hut 8 by 37.4% in the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after acquiring an additional 301 shares during the period. 31.75% of the stock is owned by institutional investors.

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.