Hut 8 (NASDAQ:HUT) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Hut 8 (NASDAQ:HUT - Get Free Report) had its price target hoisted by analysts at Needham & Company LLC from $88.00 to $128.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price target would suggest a potential upside of 17.50% from the stock's current price.

HUT has been the topic of a number of other reports. BTIG Research lifted their target price on Hut 8 from $90.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday. 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 report on Friday, February 27th. Piper Sandler lifted their price objective on shares of Hut 8 from $93.00 to $127.00 and gave the stock an "overweight" rating in a research note on Wednesday. Roth Mkm reiterated a "buy" rating and issued a $80.00 target price on shares of Hut 8 in a report on Tuesday, January 27th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Hut 8 from $55.00 to $75.00 and gave the company a "moderate buy" rating in a research note on Tuesday, January 27th. Sixteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $83.94.

Hut 8 Stock Up 35.3%

Shares of HUT stock opened at $108.94 on Thursday. Hut 8 has a 1 year low of $12.45 and a 1 year high of $111.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.09 and a current ratio of 1.09. The business's fifty day moving average is $59.84 and its 200-day moving average is $52.89. The stock has a market cap of $12.26 billion, a PE ratio of -46.96 and a beta of 4.48.

Insiders Place Their Bets

In related news, CFO Sean Joseph Glennan sold 4,625 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $226,856.25. Following the completion of the transaction, the chief financial officer owned 12,068 shares in the company, valued at $591,935.40. This trade represents a 27.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Victor Semah sold 10,518 shares of Hut 8 stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $76.83, for a total value of $808,097.94. Following the completion of the transaction, the insider directly owned 41,378 shares in the company, valued at $3,179,071.74. This represents a 20.27% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 20,641 shares of company stock valued at $1,304,631 in the last quarter. 11.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hut 8

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HUT. GAMMA Investing LLC purchased a new stake in shares of Hut 8 in the fourth quarter valued at $30,000. Imprint Wealth LLC purchased a new stake in Hut 8 in the 4th quarter worth about $38,000. Harbor Investment Advisory LLC acquired a new stake in Hut 8 during the 1st quarter worth about $47,000. Activest Wealth Management acquired a new stake in Hut 8 during the 4th quarter worth about $49,000. Finally, Danske Bank A S purchased a new position in Hut 8 during the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 31.75% of the company's stock.

Hut 8 News Roundup

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

• Positive Sentiment: Hut 8 commercialized Phase 1 of its 1 GW Beacon Point campus and signed a 15‑year, 352 MW triple‑net lease with a high‑investment‑grade tenant valued at $9.8 billion in base term (up to ~$25.1B with options). This is the headline driver behind today's rally. Read More.
• Positive Sentiment: The transaction expands Hut 8’s contracted AI data center capacity to 597 MW and raises aggregate base‑term contract value to roughly $16.8 billion, underpinning recurring, long‑dated cashflows that reposition the company from speculative mining to AI infrastructure. Read More.
• Positive Sentiment: Analyst upgrades and price‑target raises followed the news: Piper Sandler lifted its target to $127 (overweight) and BTIG raised its target to $115 (buy), signaling buy‑side support for the strategic pivot. Read More. Read More.
• Positive Sentiment: Q1 revenue surged — more than tripling year‑over‑year — and management highlighted repeatability of its power‑first delivery model, which helped fuel investor enthusiasm. Read More.
• Neutral Sentiment: Hut 8 closed a $3.25 billion offering of fully amortizing, investment‑grade senior secured notes to finance River Bend — a de‑risking move that lowers dilution but increases project leverage on balance sheet terms. Read More.
• Neutral Sentiment: Management outlined development economics — roughly $9M–$11M per MW of capex and a target for initial Beacon Point data‑hall delivery in Q2 2027 — important for modelling future cashflows but signalling heavy upfront investment. Read More.
• Negative Sentiment: On GAAP metrics Hut 8 reported a large EPS miss (company reported a sizable loss for the quarter and negative margins), which highlights current profitability and cash‑flow risks even as revenue scales. Investors should weigh the contract backlog against near‑term accounting losses. Read More.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.