Hut 8 (NASDAQ:HUT) Receives “Buy” Rating from Rosenblatt Securities

by · The Markets Daily

Hut 8 (NASDAQ:HUT – Get Free Report)‘s stock had its “buy” rating restated by equities researchers at Rosenblatt Securities in a report released on Tuesday,Benzinga reports. They presently have a $124.00 price target on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 22.86% from the company’s current price.

Several other equities analysts also recently commented on the company. BTIG Research increased their target price on Hut 8 from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Jefferies Financial Group assumed coverage on shares of Hut 8 in a research report on Thursday, May 14th. They issued a “buy” rating and a $156.00 price target for the company. Piper Sandler boosted 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, May 6th. Weiss Ratings lowered Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Finally, Cantor Fitzgerald upped their price target on Hut 8 from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Seventeen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $121.26.

Check Out Our Latest Stock Analysis on Hut 8

Hut 8 Stock Performance

Hut 8 stock 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 cap of $11.36 billion, a PE ratio of -33.64 and a beta of 4.62. Hut 8 has a 12-month low of $18.68 and a 12-month high of $140.80. The business’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 announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($1.65). Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. The company had revenue of $139.31 million for the quarter, compared to the consensus estimate of $78.53 million. As a group, analysts expect that Hut 8 will post -1.29 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Rick Rickertsen sold 17,491 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total value of $1,924,010.00. Following the sale, the director directly owned 17,491 shares in the company, valued at approximately $1,924,010. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Flinn sold 30,500 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $116.21, for a total value of $3,544,405.00. Following the sale, the director owned 18,238 shares in the company, valued at approximately $2,119,437.98. This represents a 62.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 112,724 shares of company stock worth $12,184,340 in the last quarter. 10.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hut 8

Hedge funds have recently bought and sold shares of the stock. Millennium Management LLC raised its stake in shares of Hut 8 by 11.9% during the first quarter. Millennium Management LLC now owns 330,416 shares of the company’s stock worth $3,839,000 after acquiring an additional 35,120 shares in the last quarter. Prudential Financial Inc. purchased a new stake in Hut 8 in the 2nd quarter worth approximately $216,000. Russell Investments Group Ltd. boosted its holdings in Hut 8 by 235.8% in the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock valued at $46,000 after acquiring an additional 1,719 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Hut 8 by 19.9% in the second quarter. New York State Common Retirement Fund now owns 32,540 shares of the company’s stock worth $605,000 after buying an additional 5,400 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Hut 8 by 13.2% in the 2nd quarter. Invesco Ltd. now owns 1,067,985 shares of the company’s stock valued at $19,865,000 after purchasing an additional 124,439 shares during the period. 31.75% of the stock is currently owned by institutional investors.

Key Stories Impacting Hut 8

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.

Hut 8 Company Profile

(Get Free Report)

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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