Hut 8 (NASDAQ:HUT) Trading 7.3% Higher After Analyst Upgrade

Key Points

• Hut 8 shares rose 7.3% after Benchmark lifted its price target to $195 from $165 and reiterated a buy rating. The stock traded as high as $120.38 during the session.
• The rally was supported by a major expansion in Hut 8’s AI infrastructure push, including a 15-year, $9.8 billion lease at its Beacon Point, Texas campus. The deal doubles contracted capacity to 704 megawatts and deepens the company’s shift away from Bitcoin mining.
• Analyst sentiment remains broadly positive, with multiple firms raising targets and 18 analysts rating the stock a Buy versus one Sell. MarketBeat data shows a consensus rating of Moderate Buy and an average price target of $133.10.

Hut 8 Corp. (NASDAQ:HUT - Get Free Report)'s stock price was up 7.3% during trading 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 changed hands during mid-day trading, a decline of 71% from the average session volume of 4,775,836 shares. The stock had previously closed at $109.86.

HUT has been the subject of several other reports. Citizens Jmp lifted their price objective on shares of Hut 8 from $100.00 to $140.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 7th. Needham & Company LLC increased their price target on Hut 8 from $128.00 to $145.00 and gave the stock a "buy" rating in a report on Monday. Weiss Ratings lowered Hut 8 from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Thursday, May 7th. Loop Capital set a $226.00 price objective on Hut 8 in a report on Monday, June 22nd. Finally, BTIG Research increased their target price on Hut 8 from $115.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Eighteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.10.

Insider Activity

In other Hut 8 news, insider Victor Semah sold 10,000 shares of Hut 8 stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amy Marie Wilkinson sold 20,000 shares of the business's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $100.78, for a total value of $2,015,600.00. Following the transaction, the director owned 262,136 shares in the company, valued at approximately $26,418,066.08. This trade represents a 7.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 112,724 shares of company stock worth $12,184,340. 10.40% of the stock is currently owned by insiders.

Key Stories Impacting Hut 8

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

Institutional Trading of Hut 8

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Hut 8 by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company's stock worth $366,526,000 after acquiring an additional 250,320 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in Hut 8 by 4,669,387.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company's stock worth $186,629,000 after purchasing an additional 4,062,367 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Hut 8 by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company's stock worth $104,133,000 after purchasing an additional 504,652 shares in the last quarter. SRS Investment Management LLC acquired a new stake in shares of Hut 8 during the 4th quarter worth approximately $131,838,000. Finally, Sachem Head Capital Management LP acquired a new stake in shares of Hut 8 during the 4th quarter worth approximately $129,780,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Stock Performance

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

Hut 8 (NASDAQ:HUT - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The company had revenue of $139.31 million for the quarter, compared to analysts' expectations of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. As a group, equities research analysts forecast that Hut 8 Corp. will post -1.29 EPS for the current 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.

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