Hut 8 (NASDAQ:HUT) Price Target Raised to $62.00

Hut 8 (NASDAQ:HUT) had its target price upped by Canaccord Genuity Group from $54.00 to $62.00 in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

HUT has been the subject of several other research reports. Cantor Fitzgerald boosted their price target on shares of Hut 8 from $24.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. Piper Sandler set a $74.00 target price on Hut 8 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Rosenblatt Securities restated a “buy” rating and set a $65.00 price target on shares of Hut 8 in a report on Wednesday, November 5th. Benchmark reiterated a “buy” rating on shares of Hut 8 in a research note on Wednesday. Finally, B. Riley restated a “buy” rating on shares of Hut 8 in a research note on Wednesday, October 22nd. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Hut 8 currently has a consensus rating of “Buy” and a consensus price target of $53.76.

Hut 8 Stock Performance

NASDAQ HUT opened at $44.12 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $4.77 billion, a P/E ratio of -113.13 and a beta of 4.41. The stock has a 50-day moving average of $43.68 and a two-hundred day moving average of $31.66. Hut 8 has a 1-year low of $10.04 and a 1-year high of $57.29.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.09. Hut 8 had a net margin of 115.39% and a return on equity of 8.06%. The business had revenue of $80.72 million during the quarter, compared to analyst estimates of $64.70 million. As a group, analysts anticipate that Hut 8 will post -0.53 EPS for the current year.

Institutional Trading of Hut 8

A number of large investors have recently bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Hut 8 by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock worth $331,000 after buying an additional 321 shares during the last quarter. Arizona State Retirement System lifted its position in Hut 8 by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 29,290 shares of the company’s stock worth $1,020,000 after acquiring an additional 542 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Hut 8 by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $30,000 after purchasing an additional 655 shares during the last quarter. Main Management ETF Advisors LLC grew its stake in shares of Hut 8 by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 44,713 shares of the company’s stock valued at $832,000 after purchasing an additional 732 shares during the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of Hut 8 by 1.1% in the second quarter. Intech Investment Management LLC now owns 66,957 shares of the company’s stock valued at $1,245,000 after purchasing an additional 734 shares during the period. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 News Summary

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

• Positive Sentiment: Multiple broker upgrades and higher price targets (KBW raised its PT to $55 and set an “outperform” rating), providing fresh analyst support and implied upside. KBW raises PT to $55
• Positive Sentiment: Canaccord raised its PT to $62 (buy), while Needham and Rosenblatt reaffirmed buy ratings with $60 and $65 PTs — broad analyst momentum that can attract more buyer interest. Canaccord raises PT to $62
• Positive Sentiment: BTIG reiterated a “Buy” rating, adding to the consensus of bullish analyst views. BTIG reiterates Buy
• Positive Sentiment: Hut 8 announced a major long?term commercial data?center arrangement (reported as a $7B River Bend lease) and management says it could be the “first domino” toward larger cloud/AI infrastructure partnerships — materially increases predictable revenue and cash?flow runway. CEO: $7B deal is ‘first domino’ River Bend $7B lease
• Positive Sentiment: Investment?bank commentary (Morgan Stanley) and coverage (The Motley Fool) highlight that the Anthropic/FluidStack/Google relationships and the River Bend lease set a high benchmark and could drive substantial operating profit (reports cite ~ $450M potential annual operating profit), supporting higher valuation expectations. Morgan Stanley: deal sets high water mark Fool: deal could drive big profits
• Positive Sentiment: Unusual options activity: heavy call buying has been reported, consistent with short?term bullish trader positioning. Call options activity
• Neutral Sentiment: Several bullish writeups and bull?case analyses (InsiderMonkey, Yahoo/Analyst Substack) summarize upside scenarios but note execution risk — useful for longer?term thesis but less likely to move price alone. Bull case summary
• Neutral Sentiment: Ongoing media coverage (video segments, Benzinga summaries) amplifies visibility; helpful for flows but not a direct fundamental catalyst. Benzinga coverage

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.