Hut 8 (NASDAQ:HUT) Stock Price Expected to Rise, Cantor Fitzgerald Analyst Says

Key Points

• Cantor Fitzgerald raised its price target on Hut 8 from $68 to $80 and maintained an "overweight" rating, implying roughly a 22.1% upside from the prior close.
• Overall analyst sentiment is bullish: MarketBeat shows one Strong Buy, 16 Buys and one Sell for a consensus rating of "Moderate Buy" and a consensus target price of $73, with several firms recently lifting targets into the $70–$80 range.
• Insiders sold shares on March 10 — Victor Semah and CFO Sean Glennan reduced their holdings by about 18% and 28% respectively — and insiders now own 11.20% of the company.

Hut 8 (NASDAQ:HUT - Get Free Report) had its target price increased by equities research analysts at Cantor Fitzgerald from $68.00 to $80.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective points to a potential upside of 22.10% from the company's previous close.

Several other analysts have also recently commented on the company. Roth Mkm reissued a "buy" rating and issued a $80.00 price target on shares of Hut 8 in a report on Tuesday, January 27th. Craig Hallum reiterated a "buy" rating and issued a $80.00 price objective on shares of Hut 8 in a research note on Thursday, December 18th. Wall Street Zen cut shares of Hut 8 from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. B. Riley Financial raised their price objective on shares of Hut 8 from $61.00 to $76.00 and gave the company a "buy" rating in a research note on Friday, January 9th. Finally, Canaccord Genuity Group raised their price objective on shares of Hut 8 from $62.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $73.00.

Hut 8 Stock Performance

Shares of HUT stock traded up $4.09 during mid-day trading on Thursday, hitting $65.52. The stock had a trading volume of 4,206,376 shares, compared to its average volume of 4,939,184. Hut 8 has a fifty-two week low of $10.61 and a fifty-two week high of $67.08. The firm has a market cap of $7.27 billion, a PE ratio of -28.02 and a beta of 4.38. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.09 and a quick ratio of 1.09. The company's 50-day simple moving average is $52.11 and its 200-day simple moving average is $48.47.

Insider Transactions at Hut 8

In other Hut 8 news, insider Victor Semah sold 5,498 shares of Hut 8 stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total transaction of $269,676.90. Following the completion of the transaction, the insider 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sean Joseph Glennan sold 4,625 shares of the company's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $226,856.25. Following the completion of the sale, the chief financial officer owned 12,068 shares in the company, valued at $591,935.40. This represents a 27.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 11.20% of the company's stock.

Hedge Funds Weigh In On Hut 8

Institutional investors and hedge funds have recently modified their holdings of the company. Harvest Portfolios Group Inc. raised its holdings in shares of Hut 8 by 75.3% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 85,093 shares of the company's stock worth $2,962,000 after purchasing an additional 36,543 shares during the period. Paradiem LLC purchased a new position in shares of Hut 8 in the 3rd quarter worth about $1,652,000. Steadview Capital Management LLC purchased a new position in shares of Hut 8 in the 3rd quarter worth about $985,000. Y Intercept Hong Kong Ltd raised its holdings in shares of Hut 8 by 26.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 131,110 shares of the company's stock worth $4,564,000 after purchasing an additional 27,568 shares during the period. Finally, Tactive Advisors LLC raised its holdings in shares of Hut 8 by 42.6% in the 3rd quarter. Tactive Advisors LLC now owns 93,958 shares of the company's stock worth $3,271,000 after purchasing an additional 28,082 shares during the period. Hedge funds and other institutional investors own 31.75% of the company's stock.

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.

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