Hut 8 (NASDAQ:HUT) Price Target Raised to $35.00 at HC Wainwright

Hut 8 (NASDAQ:HUT) had its price objective upped by HC Wainwright from $26.00 to $35.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Hut 8’s Q1 2025 earnings at ($0.21) EPS, Q2 2025 earnings at $0.02 EPS, Q3 2025 earnings at $0.10 EPS, Q3 2025 earnings at $0.15 EPS, Q4 2025 earnings at $0.19 EPS and Q4 2025 earnings at $0.17 EPS.

Other analysts have also issued reports about the stock. Canaccord Genuity Group restated a “buy” rating and issued a $22.00 price objective on shares of Hut 8 in a report on Wednesday, August 21st. Craig Hallum boosted their price target on shares of Hut 8 from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Benchmark increased their price objective on shares of Hut 8 from $17.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday. Needham & Company LLC boosted their target price on Hut 8 from $21.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus raised their price target on Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $30.17.

Hut 8 Price Performance

Shares of Hut 8 stock opened at $25.26 on Thursday. The stock has a 50 day moving average of $14.47 and a 200 day moving average of $12.93. The company has a current ratio of 1.00, a quick ratio of 1.68 and a debt-to-equity ratio of 0.35. Hut 8 has a fifty-two week low of $6.18 and a fifty-two week high of $28.47.

Institutional Trading of Hut 8

A number of large investors have recently modified their holdings of HUT. Vanguard Group Inc. boosted its holdings in Hut 8 by 8,329.2% in the first quarter. Vanguard Group Inc. now owns 2,787,102 shares of the company’s stock valued at $30,770,000 after purchasing an additional 2,754,037 shares during the period. JAT Capital Mgmt LP purchased a new stake in shares of Hut 8 during the third quarter worth approximately $32,260,000. Tidal Investments LLC acquired a new stake in Hut 8 in the first quarter valued at approximately $18,191,000. D1 Capital Partners L.P. purchased a new position in Hut 8 in the second quarter worth approximately $17,388,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Hut 8 during the 3rd quarter worth approximately $9,997,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

About Hut 8

Hut 8 Corp., together with its subsidiaries, acquires, builds, manages, and operates data centers for digital assets mining, computing, and artificial intelligence in the United States. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other.