Hut 8 (NASDAQ:HUT) Stock Price Target Cut by Cantor Fitzgerald

Hut 8 (NASDAQ:HUT) had its price target dropped by equities researchers at Cantor Fitzgerald from $151.00 to $127.00 in a note issued to investors on Thursday, MarketBeat reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald‘s target price points to a potential upside of 141.22% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Rothschild & Co Redburn started coverage on shares of Hut 8 in a research note on Monday, September 21st. They issued a “neutral” rating and a $96.00 price objective for the company. Canaccord Genuity Group reaffirmed a “buy” rating and set a $130.00 target price on shares of Hut 8 in a research note on Wednesday, October 7th. Freedom Capital upgraded shares of Hut 8 to a “strong-buy” rating in a report on Tuesday, August 18th. Freedom Broker raised shares of Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Finally, Morgan Stanley boosted their price target on shares of Hut 8 from $273.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Four analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Hut 8 presently has a consensus rating of “Buy” and a consensus price target of $141.59.

Hut 8 Trading Up 14.6%

Shares of NASDAQ HUT traded up $6.70 during trading on Thursday, reaching $52.65. The stock had a trading volume of 11,545,992 shares, compared to its average volume of 6,542,872. Hut 8 has a fifty-two week low of $31.67 and a fifty-two week high of $140.80. The company has a debt-to-equity ratio of 4.22, a quick ratio of 19.35 and a current ratio of 19.35. The business’s 50-day moving average price is $80.94 and its 200-day moving average price is $82.18. The company has a market cap of $6.49 billion, a P/E ratio of -10.74 and a beta of 4.53.

Hut 8 (NASDAQ:HUT) last announced its earnings results on Wednesday, November 4th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $1.70. The company had revenue of $71.07 million during the quarter, compared to analysts’ expectations of $75.78 million. Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%. On average, equities research analysts predict that Hut 8 will post -2.93 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Sean Glennan sold 6,445 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $78.76, for a total value of $507,608.20. Following the sale, the chief financial officer owned 17,978 shares of the company’s stock, valued at $1,415,947.28. This trade represents a 26.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Mayo Shattuck, III sold 20,000 shares of Hut 8 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 represents a 18.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Hut 8

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Hut 8 in the second quarter valued at $1,093,294,000. Avala Global LP purchased a new stake in Hut 8 during the 2nd quarter worth about $144,602,000. Wellington Management Group LLP acquired a new position in shares of Hut 8 during the 2nd quarter worth about $97,949,000. Montanova Capital LLC acquired a new position in shares of Hut 8 during the 2nd quarter worth about $77,348,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Hut 8 in the 2nd quarter valued at about $56,364,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

More Hut 8 News

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

• Positive Sentiment: Investors are increasingly valuing crypto miners for their AI data-center potential, lifting the sector even as Bitcoin was flat; Hut 8 was among the gainers. Article: Riot Platforms Jumps as AI Data Center Bets Lift Bitcoin Miners
• Positive Sentiment: Hut 8’s Q3 call highlighted its AI growth plans, including $27 billion in data-center leases, $7.5 billion in project financing and plans to expand power capacity. The company also expects 700 megawatts at Beacon Point in Q1 2027 on a path toward a full gigawatt. Article: HUT Q3 Earnings Call Focuses on AI Expansion and Project Financing Article: Hut 8 Anticipates Beacon Point Energization and Expands Buyback
• Neutral Sentiment: B. Riley reaffirmed its Buy rating with a $132 target, trimmed slightly from $134. Wells Fargo, Needham and Cantor Fitzgerald also retained positive ratings despite lowering their targets. B. Riley Recommendations
• Negative Sentiment: Hut 8’s Q3 earnings missed estimates, and several firms cut price targets: Wells Fargo to $148, Needham to $101 and Cantor Fitzgerald to $127. The cuts may temper enthusiasm, though the firms maintained Overweight or Buy ratings. Cantor Fitzgerald Target Cut Wells Fargo Target Cut Needham Target Cut

About Hut 8

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.