Analysts’ Recent Ratings Changes for Hut 8 (HUT)

Several analysts have recently updated their ratings and price targets for Hut 8 (NASDAQ: HUT):

• 1/13/2025 – Hut 8 had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $38.00 price target on the stock.
• 1/8/2025 – Hut 8 is now covered by analysts at Keefe, Bruyette & Woods. They set an “outperform” rating on the stock.
• 1/7/2025 – Hut 8 had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $35.00 price target on the stock.
• 1/7/2025 – Hut 8 had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $41.00 price target on the stock.
• 12/17/2024 – Hut 8 is now covered by analysts at Piper Sandler. They set an “overweight” rating and a $33.00 price target on the stock.
• 12/17/2024 – Hut 8 had its price target raised by analysts at Needham & Company LLC from $32.00 to $38.00. They now have a “buy” rating on the stock.
• 12/9/2024 – Hut 8 is now covered by analysts at Cantor Fitzgerald. They set an “overweight” rating and a $35.00 price target on the stock.

Hut 8 Stock Performance

Shares of Hut 8 stock traded up $0.33 on Monday, reaching $26.92. The company’s stock had a trading volume of 10,163,151 shares, compared to its average volume of 5,377,196. Hut 8 Corp. has a 52-week low of $6.18 and a 52-week high of $31.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average price of $25.12 and a 200-day moving average price of $17.64.

Institutional Investors Weigh In On Hut 8

Several institutional investors and hedge funds have recently added to or reduced their stakes in HUT. Nisa Investment Advisors LLC grew its stake in shares of Hut 8 by 77.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock valued at $26,000 after buying an additional 545 shares during the period. Foundations Investment Advisors LLC raised its position in Hut 8 by 2.1% in the third quarter. Foundations Investment Advisors LLC now owns 49,755 shares of the company’s stock valued at $610,000 after purchasing an additional 1,027 shares during the period. AM Investment Strategies LLC lifted its stake in Hut 8 by 3.6% during the third quarter. AM Investment Strategies LLC now owns 44,000 shares of the company’s stock worth $539,000 after purchasing an additional 1,521 shares in the last quarter. Amalgamated Bank acquired a new position in Hut 8 during the second quarter worth $42,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Hut 8 during the third quarter worth $40,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

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.