Needham & Company LLC Issues Pessimistic Forecast for Hut 8 (NASDAQ:HUT) Stock Price

Hut 8 (NASDAQ:HUT) had its target price lowered by analysts at Needham & Company LLC from $138.00 to $101.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC‘s price objective suggests a potential upside of 106.38% from the stock’s previous close.

A number of other equities analysts have also issued reports on HUT. Cantor Fitzgerald decreased their price target on Hut 8 from $151.00 to $127.00 and set an “overweight” rating for the company in a research note on Thursday. Wall Street Zen lowered shares of Hut 8 from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Maxim Group upgraded shares of Hut 8 to a “strong-buy” rating in a research report on Wednesday, August 5th. Compass Point set a $195.00 price target on Hut 8 in a research report on Wednesday, July 22nd. Finally, Rothschild & Co Redburn assumed coverage on Hut 8 in a research report on Monday, September 21st. They set a “neutral” rating and a $96.00 price target on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Hut 8 has a consensus rating of “Buy” and an average target price of $144.00.

Hut 8 Stock Down 23.2%

Shares of NASDAQ:HUT opened at $48.94 on Thursday. The firm has a 50 day simple moving average of $82.41 and a 200-day simple moving average of $82.28. Hut 8 has a twelve month low of $31.67 and a twelve month high of $140.80. The company has a market capitalization of $6.03 billion, a PE ratio of -8.98 and a beta of 4.53. The company has a current ratio of 19.35, a quick ratio of 19.35 and a debt-to-equity ratio of 4.22.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72). The business had revenue of $74.93 million during the quarter, compared to analyst estimates of $79.37 million. Hut 8 had a negative net margin of 188.59% and a negative return on equity of 0.97%. During the same period in the previous year, the company posted $1.18 earnings per share. On average, equities analysts predict that Hut 8 will post -2.93 EPS for the current fiscal year.

Insider Buying and Selling at Hut 8

In related news, Director Mayo Shattuck, III sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $100.00, for a total transaction of $2,000,000.00. Following the completion of the transaction, the director owned 89,408 shares of the company’s stock, valued at $8,940,800. This trade represents a 18.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Sean Glennan sold 6,445 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $78.76, for a total transaction of $507,608.20. Following the completion of the transaction, the chief financial officer directly owned 17,978 shares in the company, valued at approximately $1,415,947.28. The trade was a 26.39% decrease in their position. 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. Insiders own 10.40% of the company’s stock.

Hedge Funds Weigh In On Hut 8

Several large investors have recently made changes to their positions in HUT. Fulcrum Asset Management LLP acquired a new position in Hut 8 in the 3rd quarter valued at about $1,506,000. Allspring Global Investments Holdings LLC raised its position in Hut 8 by 56.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 77,689 shares of the company’s stock worth $6,709,000 after buying an additional 27,898 shares during the last quarter. Pictet Asset Management Holding SA boosted its holdings in Hut 8 by 6.3% during the third quarter. Pictet Asset Management Holding SA now owns 18,392 shares of the company’s stock worth $1,584,000 after buying an additional 1,085 shares in the last quarter. Heritage Family Offices LLP acquired a new stake in shares of Hut 8 in the third quarter valued at approximately $35,000. Finally, Kestra Advisory Services LLC boosted its holdings in shares of Hut 8 by 71.7% during the third quarter. Kestra Advisory Services LLC now owns 3,713 shares of the company’s stock worth $320,000 after purchasing an additional 1,551 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Hut 8

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

• Positive Sentiment: Hut 8 signed a second 352-megawatt lease at its Beacon Point campus. The company says the lease brings expected aggregate base-term contract value across its AI data-center portfolio to about $26.6 billion. Management expects 700 megawatts of Beacon Point capacity to be energized in Q1 2027; delivery and execution remain important milestones. Hut 8 Reports Third Quarter 2026 Results
• Positive Sentiment: The company expanded its share-repurchase authorization to $1 billion after repurchasing $250 million of stock, and closed a $1.07 billion revolving credit facility. These moves add capital flexibility and signal a commitment to shareholder returns, though authorization does not mean the full amount will be used. Hut 8 expands buyback authorization
• Positive Sentiment: Hut 8 increased energy capacity under exclusivity by 1,300 megawatts to 3,180 megawatts and reported a 7,859-megawatt development pipeline. The expansion supports its AI infrastructure ambitions, but much of the pipeline is still in development rather than operating. Hut 8 Reports Third Quarter 2026 Results
• Negative Sentiment: Q3 results fell short of estimates: Hut 8 reported a loss of $1.23 per share versus the Zacks consensus estimate of a $1.06 loss, while revenue also missed expectations. The larger loss than analysts expected may weigh on sentiment. Hut 8 Q3 earnings report
• Negative Sentiment: Hut 8 sold 3,102 bitcoin to fund $250 million in share repurchases. While the buyback returns capital, the sale reduces its Bitcoin holdings and may concern investors who prefer exposure to potential Bitcoin appreciation. Hut 8 Bitcoin sale and buyback

Hut 8 Company Profile

Hut 8 Corp. is a North American energy infrastructure and computing company whose business includes digital asset mining, high-performance computing and data center operations. The company develops and manages power and infrastructure assets intended to support energy-intensive computing applications.

Hut 8’s activities have historically centered on Bitcoin mining, supported by company-operated data centers and specialized mining equipment. It also provides infrastructure for emerging computing applications, including artificial intelligence and other high-performance computing workloads, as it seeks to expand beyond cryptocurrency mining.

The company was established in Canada and expanded its operations in the United States through its combination with U.S.