Hut 8 (NASDAQ:HUT) Price Target Raised to $115.00

Key Points

• BTIG raised its price target on Hut 8 from $90 to $115 and maintained a "buy" rating, while the Street consensus remains a "Moderate Buy" with an average target around $80.06.
• Shares jumped ~35% to $108.74 on heavy volume, giving Hut 8 a market cap of about $12.24 billion amid a 12‑month high near $111.
• Company catalysts include a 15‑year, 352 MW AI data‑center lease with $9.8B of base‑term contract value, a $3.25B senior secured note financing for its River Bend campus, and a material Q1 revenue beat (~$139M vs. ~$77M consensus).

Hut 8 (NASDAQ:HUT - Get Free Report) had its price objective increased by BTIG Research from $90.00 to $115.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. BTIG Research's price target indicates a potential upside of 5.76% from the company's current price.

Several other analysts also recently commented on HUT. B. Riley Financial increased their target price on shares of Hut 8 from $61.00 to $76.00 and gave the company a "buy" rating in a report on Friday, January 9th. Cantor Fitzgerald increased their price objective on shares of Hut 8 from $68.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Keefe, Bruyette & Woods upped their target price on Hut 8 from $55.00 to $75.00 and gave the company a "moderate buy" rating in a report on Tuesday, January 27th. Rosenblatt Securities reiterated a "buy" rating and set a $65.00 price target on shares of Hut 8 in a report on Thursday, February 26th. Finally, Roth Mkm restated a "buy" rating and issued a $80.00 price objective on shares of Hut 8 in a research note on Tuesday, January 27th. Sixteen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $80.06.

Hut 8 Stock Up 35.1%

Shares of NASDAQ:HUT traded up $28.23 during mid-day trading on Wednesday, hitting $108.74. 16,454,924 shares of the company traded hands, compared to its average volume of 4,982,832. The stock has a 50-day moving average price of $58.74 and a two-hundred day moving average price of $52.47. Hut 8 has a 12-month low of $12.45 and a 12-month high of $111.33. The stock has a market cap of $12.24 billion, a P/E ratio of -46.87 and a beta of 4.48. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.12.

Insiders Place Their Bets

In other news, insider Victor Semah sold 10,518 shares of Hut 8 stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $76.83, for a total value of $808,097.94. Following the completion of the transaction, the insider owned 41,378 shares in the company, valued at $3,179,071.74. This trade represents a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Joseph Glennan sold 4,625 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the completion of the transaction, the chief financial officer directly owned 12,068 shares of the company's stock, valued at approximately $591,935.40. This trade represents a 27.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 20,641 shares of company stock worth $1,304,631 in the last ninety days. Insiders own 11.20% of the company's stock.

Institutional Investors Weigh In On Hut 8

Institutional investors and hedge funds have recently modified their holdings of the company. Nisa Investment Advisors LLC increased its holdings in Hut 8 by 1.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company's stock worth $734,000 after acquiring an additional 254 shares during the period. CWM LLC boosted its holdings in Hut 8 by 37.4% in the 4th quarter. CWM LLC now owns 1,106 shares of the company's stock valued at $51,000 after purchasing an additional 301 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Hut 8 by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company's stock valued at $331,000 after purchasing an additional 321 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Hut 8 by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company's stock worth $996,000 after purchasing an additional 362 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Hut 8 by 4.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company's stock worth $413,000 after purchasing an additional 388 shares during the period. 31.75% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Hut 8

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

• Positive Sentiment: Hut 8 signed a 15‑year, 352 MW triple‑net AI data center lease at its Beacon Point campus with a high‑investment‑grade tenant, creating $9.8B of base‑term contract value and demonstrating demand for its Nvidia‑spec infrastructure. Hut 8 Commercializes First Phase of 1 GW Beacon Point AI Data Center Campus...
• Positive Sentiment: Management closed a $3.25B offering of fully amortizing, investment‑grade senior secured notes to finance the River Bend campus — described as non‑dilutive and non‑recourse to Hut 8 — which de‑risks near‑term buildout and shows access to institutional construction capital markets. Hut 8 Reports First Quarter 2026 Results
• Positive Sentiment: Quarterly revenue materially exceeded estimates (reported ~ $139M vs. consensus ~ $77M), underpinning the company’s AI data‑center growth narrative despite mixed profitability metrics. Hut 8 Q1 2026 Press Release / Slide Deck
• Neutral Sentiment: Hut 8 secured a $200M, 364‑day bitcoin‑backed facility with FalconX at a lower rate (7%), and unencumbered ~3,300 BTC — a liquidity boost that also reduces prior counterparty concentration. Hut 8 Taps Falconx for $200M Facility...
• Neutral Sentiment: Insider selling (Victor Semah sold shares under a pre‑arranged 10b5‑1 plan to cover taxes) is disclosed but appears routine and not a sign of strategic concern. SEC Form 4 — Insider Sale
• Negative Sentiment: Profitability metrics remain weak: some filings show a large EPS miss versus certain consensus figures (company reported negative EPS and wide negative net margin), which could concern investors who focus on near‑term earnings. Hut 8 (HUT) Reports Q1 Loss, Lags Revenue Estimates

Hut 8 Company Profile

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.

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