Analysts Set Hut 8 Corp. (NASDAQ:HUT) PT at $73.00

Shares of Hut 8 Corp. (NASDAQ:HUT) have earned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, sixteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $73.00.

A number of research analysts have issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and set a $65.00 price objective on shares of Hut 8 in a research report on Thursday, February 26th. Keefe, Bruyette & Woods boosted their price objective on shares of Hut 8 from $55.00 to $75.00 and gave the company a “moderate buy” rating in a research report on Tuesday, January 27th. HC Wainwright reissued a “buy” rating and set a $80.00 price objective on shares of Hut 8 in a research report on Thursday, February 26th. B. Riley Financial boosted their price objective on shares of Hut 8 from $61.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Finally, Roth Mkm reissued a “buy” rating and set a $80.00 price objective on shares of Hut 8 in a research report on Tuesday, January 27th.

Insiders Place Their Bets

In other Hut 8 news, CFO Sean Joseph Glennan sold 4,625 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total transaction of $226,856.25. Following the transaction, the chief financial officer directly owned 12,068 shares of the company’s stock, valued at approximately $591,935.40. The trade was a 27.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victor Semah sold 5,498 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total transaction of $269,676.90. Following the transaction, the insider directly owned 24,796 shares in the company, valued at approximately $1,216,243.80. The trade was a 18.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 11.20% of the stock is currently owned by insiders.

Institutional Trading of Hut 8

A number of hedge funds have recently modified their holdings of HUT. Millennium Management LLC boosted its holdings in shares of Hut 8 by 11.9% during the 1st quarter. Millennium Management LLC now owns 330,416 shares of the company’s stock valued at $3,839,000 after buying an additional 35,120 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of Hut 8 during the 2nd quarter valued at $216,000. Russell Investments Group Ltd. boosted its holdings in shares of Hut 8 by 235.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock valued at $46,000 after buying an additional 1,719 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of Hut 8 by 19.9% during the 2nd quarter. New York State Common Retirement Fund now owns 32,540 shares of the company’s stock valued at $605,000 after buying an additional 5,400 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Hut 8 by 13.2% during the 2nd quarter. Invesco Ltd. now owns 1,067,985 shares of the company’s stock valued at $19,865,000 after buying an additional 124,439 shares in the last quarter. Institutional investors own 31.75% of the company’s stock.

Hut 8 Price Performance

Shares of Hut 8 stock opened at $74.90 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.12. The company’s fifty day simple moving average is $54.18 and its two-hundred day simple moving average is $50.24. The company has a market cap of $8.31 billion, a P/E ratio of -32.28 and a beta of 4.38. Hut 8 has a 12-month low of $10.61 and a 12-month high of $76.08.

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.