Hut 8 (NASDAQ:HUT) Stock Price Expected to Rise, HC Wainwright Analyst Says

Hut 8 (NASDAQ:HUT) had its target price hoisted by stock analysts at HC Wainwright from $26.00 to $35.00 in a research report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 38.56% from the stock’s previous close. HC Wainwright also issued estimates for Hut 8’s Q1 2025 earnings at ($0.21) EPS, Q2 2025 earnings at $0.02 EPS, Q3 2025 earnings at $0.10 EPS, Q3 2025 earnings at $0.15 EPS, Q4 2025 earnings at $0.19 EPS and Q4 2025 earnings at $0.17 EPS.

A number of other equities research analysts have also recently issued reports on the company. Craig Hallum boosted their price objective on Hut 8 from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus upped their price target on shares of Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Hut 8 in a research note on Wednesday, August 21st. Needham & Company LLC increased their target price on Hut 8 from $21.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Benchmark lifted their price target on Hut 8 from $17.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Hut 8 has a consensus rating of “Buy” and a consensus target price of $30.17.

Hut 8 Price Performance

Hut 8 stock opened at $25.26 on Thursday. The firm has a 50 day moving average price of $14.15 and a 200-day moving average price of $12.82. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.68 and a quick ratio of 1.68. Hut 8 has a twelve month low of $6.18 and a twelve month high of $28.47.

Hut 8 (NASDAQ:HUT) last issued its earnings results on Tuesday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.11. The firm had revenue of $35.22 million during the quarter, compared to the consensus estimate of $38.00 million. On average, sell-side analysts predict that Hut 8 will post -0.55 EPS for the current year.

Institutional Investors Weigh In On Hut 8

Several large investors have recently added to or reduced their stakes in HUT. Foundations Investment Advisors LLC lifted its position in Hut 8 by 2.0% during the second quarter. Foundations Investment Advisors LLC now owns 48,728 shares of the company’s stock valued at $730,000 after purchasing an additional 949 shares during the last quarter. AM Investment Strategies LLC lifted its holdings in shares of Hut 8 by 3.6% during the 3rd quarter. AM Investment Strategies LLC now owns 44,000 shares of the company’s stock worth $539,000 after acquiring an additional 1,521 shares during the last quarter. Amalgamated Bank purchased a new position in Hut 8 in the second quarter worth $42,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Hut 8 by 27.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,223 shares of the company’s stock valued at $213,000 after acquiring an additional 3,105 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Hut 8 during the third quarter valued at about $40,000. Institutional investors own 31.75% of the company’s stock.

Hut 8 Company Profile

Hut 8 Corp., together with its subsidiaries, acquires, builds, manages, and operates data centers for digital assets mining, computing, and artificial intelligence in the United States. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other.