Rosenblatt Securities Reiterates "Buy" Rating for Hut 8 (NASDAQ:HUT)

Key Points

• Rosenblatt Securities reaffirmed its Buy rating on Hut 8 and set a $124 price target, implying about 22.86% upside from the current share price.
• Other analysts remain mostly bullish: several firms have raised targets, and the stock now carries a consensus “Moderate Buy” with an average target price of $121.26.
• Hut 8 is also drawing attention from its AI data center expansion, including a new long-term lease at Beacon Point that boosts contracted revenue and supports its shift beyond Bitcoin mining.

Hut 8 (NASDAQ:HUT - Get Free Report)'s stock had its "buy" rating reaffirmed by stock analysts at Rosenblatt Securities in a research report issued on Tuesday,Benzinga reports. They presently have a $124.00 target price on the stock. Rosenblatt Securities' price objective would suggest a potential upside of 22.86% from the stock's current price.

Other equities analysts have also issued research reports about the stock. Cantor Fitzgerald raised their price objective on shares of Hut 8 from $68.00 to $80.00 and gave the company an "overweight" rating in a research report on Thursday, April 9th. Benchmark increased their price objective on shares of Hut 8 from $85.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Canaccord Genuity Group increased their target price on shares of Hut 8 from $70.00 to $130.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Weiss Ratings downgraded Hut 8 from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. Finally, Citigroup reiterated an "outperform" rating on shares of Hut 8 in a research report on Tuesday, April 28th. Seventeen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $121.26.

Hut 8 Stock Performance

Shares of NASDAQ HUT opened at $100.93 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $11.36 billion, a P/E ratio of -33.64 and a beta of 4.62. Hut 8 has a 52-week low of $18.68 and a 52-week high of $140.80. The firm's 50-day moving average price is $111.21 and its two-hundred day moving average price is $77.73.

Hut 8 (NASDAQ:HUT - Get Free Report) last posted its quarterly earnings data 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). Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%.The company had revenue of $139.31 million during the quarter, compared to analyst estimates of $78.53 million. As a group, sell-side analysts forecast that Hut 8 will post -1.29 earnings per share for the current year.

Insider Activity

In other Hut 8 news, insider Victor Semah sold 10,518 shares of the company's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $76.83, for a total value of $808,097.94. Following the transaction, the insider directly owned 41,378 shares of the company's stock, valued at $3,179,071.74. This represents a 20.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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, Director Rick Rickertsen sold 17,491 shares of the company's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the completion of the transaction, the director owned 17,491 shares in the company, valued at $1,924,010. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 112,724 shares of company stock worth $12,184,340. Insiders own 10.40% of the company's stock.

Institutional Trading of Hut 8

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

Hut 8 News Summary

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

• Positive Sentiment: Hut 8 fully commercialized its Beacon Point campus with a second 15-year, $9.8 billion lease, significantly boosting contracted revenue and improving visibility for future cash flow. Reuters article
• Positive Sentiment: The deal lifts Hut 8’s base-term contract value and supports the view that it is evolving from a Bitcoin miner into a more stable AI infrastructure operator with long-duration leases. Press release article
• Neutral Sentiment: Heavy call option activity was also reported, suggesting traders expect continued volatility and may be positioning for more upside around the AI-infrastructure story.
• Neutral Sentiment: Broader enthusiasm for AI-related data center and leasing deals is helping peers like CleanSpark and IREN rally in sympathy, reinforcing investor interest in the sector.

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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