B. Riley Financial Reaffirms Buy Rating for Hut 8 (NASDAQ:HUT)

Key Points

• B. Riley Financial reiterated its Buy rating on Hut 8 but lowered its price target from $134 to $132, implying 169.69% upside from the prior close.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus Buy rating and an average price target of $141.59, though other firms have recently reduced some targets.
• Hut 8 shares traded at $48.95 on Friday. Its latest quarterly results beat consensus on EPS but fell short of revenue estimates.

Hut 8 (NASDAQ:HUT - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at B. Riley Financial in a report issued on Friday, Benzinga reports. They currently have a $132.00 price target on the stock, down from their prior price target of $134.00. B. Riley Financial's price target suggests a potential upside of 169.69% from the stock's previous close.

HUT has been the subject of a number of other reports. Compass Point set a $195.00 price objective on shares of Hut 8 in a report on Wednesday, July 22nd. Morgan Stanley increased their target price on shares of Hut 8 from $273.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, October 9th. Needham & Company LLC reduced their target price on shares of Hut 8 from $138.00 to $101.00 and set a "buy" rating on the stock in a report on Thursday. Canaccord Genuity Group reiterated a "buy" rating and issued a $130.00 target price on shares of Hut 8 in a research report on Wednesday, October 7th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Hut 8 from $157.00 to $154.00 and set an "outperform" rating for the company in a research note on Thursday, August 6th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Hut 8 currently has a consensus rating of "Buy" and an average price target of $141.59.

Hut 8 Price Performance

NASDAQ:HUT traded up $3.00 during mid-day trading on Friday, reaching $48.95. The stock had a trading volume of 3,121,408 shares, compared to its average volume of 5,038,455. The firm has a 50 day moving average price of $81.63 and a two-hundred day moving average price of $82.21. The stock has a market capitalization of $6.03 billion, a P/E ratio of -9.85 and a beta of 4.53. Hut 8 has a one year low of $31.67 and a one year 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.

Hut 8 (NASDAQ:HUT - Get Free Report) last issued its earnings results on Wednesday, November 4th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $1.70. Hut 8 had a negative return on equity of 9.99% and a negative net margin of 169.76%. The business had revenue of $71.07 million during the quarter, compared to analyst estimates of $75.78 million. As a group, analysts expect that Hut 8 will post -2.93 earnings per share for the current year.

Insider Activity at Hut 8

In other Hut 8 news, CFO Sean Glennan sold 6,445 shares of Hut 8 stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $78.76, for a total value of $507,608.20. Following the transaction, the chief financial officer directly owned 17,978 shares of the company's stock, valued at $1,415,947.28. The trade was a 26.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 the business's stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $100.00, for a total value of $2,000,000.00. Following the completion of the sale, the director owned 89,408 shares of the company's stock, valued at $8,940,800. The trade was a 18.28% decrease in their position. The SEC filing for this sale provides additional information. 10.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. GK Wealth Management LLC bought a new position in shares of Hut 8 during the third quarter valued at approximately $25,000. Arlington Trust Co LLC boosted its holdings in Hut 8 by 175.0% in the second quarter. Arlington Trust Co LLC now owns 275 shares of the company's stock valued at $32,000 after acquiring an additional 175 shares in the last quarter. Heritage Family Offices LLP bought a new stake in Hut 8 in the third quarter valued at $35,000. Parkside Financial Bank & Trust boosted its holdings in Hut 8 by 258.5% in the second quarter. Parkside Financial Bank & Trust now owns 380 shares of the company's stock valued at $44,000 after acquiring an additional 274 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Hut 8 during the 3rd quarter valued at $50,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

Hut 8 News Summary

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

• Positive Sentiment: Management highlighted $27 billion in AI data-center leases, $7.5 billion in project financing and plans to bring 700 megawatts of power online at Beacon Point in Q1 2027. These commitments reinforce Hut 8’s push beyond Bitcoin mining into data-center infrastructure. HUT Q3 Earnings Call Focuses on AI Expansion and Project Financing
• Positive Sentiment: The company expanded its share-repurchase authorization to $1 billion, a potential source of shareholder support. Hut 8 expands buyback authorization
• Neutral Sentiment: Hut 8 sold 3,102 bitcoin to fund a $250 million share repurchase. Buybacks can support per-share value, but the sale also reduces the company’s Bitcoin holdings; one report said the market reacted negatively to the move. Hut 8 sold bitcoin to buy back stock
• Negative Sentiment: Hut 8’s Q3 results missed estimates, adding pressure despite its longer-term expansion plans. HUT Q3 earnings call and results
• Negative Sentiment: Cantor Fitzgerald, Wells Fargo and Needham cut their price targets to $127, $148 and $101, respectively. However, they retained positive ratings—overweight at Cantor and Wells Fargo, and buy at Needham—so the revisions temper, rather than eliminate, their optimism. Cantor Fitzgerald lowers Hut 8 price target

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.

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