Hut 8 (NASDAQ:HUT) Stock Price Up 7.3% Following Analyst Upgrade

Hut 8 Corp. (NASDAQ:HUT)’s stock price shot up 7.3% on Thursday after Benchmark raised their price target on the stock from $165.00 to $195.00. Benchmark currently has a buy rating on the stock. Hut 8 traded as high as $120.38 and last traded at $117.9340. Approximately 1,363,854 shares were traded during trading, a decline of 71% from the average session volume of 4,775,836 shares. The stock had previously closed at $109.86.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group started coverage on shares of Hut 8 in a research report on Thursday, May 14th. They set a “buy” rating and a $156.00 target price for the company. Weiss Ratings downgraded shares of Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Northland Securities set a $120.00 price target on shares of Hut 8 in a report on Thursday, May 7th. Loop Capital set a $226.00 price objective on shares of Hut 8 in a research note on Monday, June 22nd. Finally, Piper Sandler boosted their price target on Hut 8 from $93.00 to $127.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Eighteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.10.

Insider Activity

In other news, Director Joseph Flinn sold 7,719 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $117.91, for a total value of $910,147.29. Following the completion of the transaction, the director directly owned 10,519 shares in the company, valued at approximately $1,240,295.29. This represents a 42.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Victor Semah sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the insider directly owned 31,378 shares of the company’s stock, valued at approximately $3,922,250. The trade was a 24.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 112,724 shares of company stock worth $12,184,340 over the last three months. Insiders own 10.40% of the company’s stock.

Hut 8 News Roundup

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

• Positive Sentiment: Hut 8 signed a 15-year, $9.8 billion triple-net lease at its Beacon Point, Texas campus, doubling contracted capacity to 704 megawatts and strengthening the company’s shift from Bitcoin mining toward AI data center infrastructure. Texas Power Play: Hut 8 Sparks a $9.8B AI Infrastructure Deal
• Positive Sentiment: Benchmark raised its price target on Hut 8 to $195 from $165 and reiterated a buy rating, saying the new AI infrastructure deal improves the growth outlook. Benchmark Raises Hut 8 Price Target For Second Time In A Week
• Positive Sentiment: Needham also lifted its target to $145 after Hut 8 signed a second Beacon Point AI lease, adding to investor enthusiasm around the company’s AI expansion. Needham lifts Hut 8 target to $145 after second Beacon Point AI lease
• Positive Sentiment: Rosenblatt Securities also initiated/affirmed a buy rating, adding another favorable analyst call for the stock. Hut 8 (NASDAQ:HUT) Earns “Buy” Rating from Rosenblatt Securities
• Neutral Sentiment: Reports noted unusually heavy call-option buying and highlighted that HUT has already had a huge run in 2026, which may reflect strong momentum but also a more extended valuation. Investors Buy Large Volume of Call Options on Hut 8 (NASDAQ:HUT)
• Neutral Sentiment: Some coverage pointed out that Hut 8 is still expensive on a sales basis, suggesting valuation could be a debate even as the growth story improves. Hut 8 (HUT) Stock Looks Strong On Returns Yet Expensive On Sales

Hedge Funds Weigh In On Hut 8

Several institutional investors and hedge funds have recently made changes to their positions in the business. Handelsbanken Fonder AB grew its position in shares of Hut 8 by 42.5% during the second quarter. Handelsbanken Fonder AB now owns 32,200 shares of the company’s stock worth $3,717,000 after buying an additional 9,600 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in Hut 8 in the second quarter valued at $854,000. GAMMA Investing LLC raised its holdings in Hut 8 by 35.0% in the second quarter. GAMMA Investing LLC now owns 1,057 shares of the company’s stock valued at $122,000 after acquiring an additional 274 shares in the last quarter. Arlington Trust Co LLC boosted its stake in Hut 8 by 175.0% during the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock valued at $32,000 after acquiring an additional 175 shares during the last quarter. Finally, CoreCap Advisors LLC boosted its stake in Hut 8 by 42.1% during the 2nd quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock valued at $62,000 after acquiring an additional 160 shares during the last quarter. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Hut 8 Stock Performance

The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of -38.53 and a beta of 4.62. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The company’s fifty day simple moving average is $111.28 and its two-hundred day simple moving average is $78.63.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. The firm had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. Equities research analysts predict that Hut 8 Corp. will post -1.29 earnings per share for the current fiscal year.

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.