HC Wainwright Lowers Hut 8 (NASDAQ:HUT) Price Target to $30.00

Hut 8 (NASDAQ:HUT - Get Free Report) had its price objective reduced by HC Wainwright from $35.00 to $30.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price objective indicates a potential upside of 122.06% from the company's previous close. HC Wainwright also issued estimates for Hut 8's Q1 2025 earnings at ($0.20) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at ($0.09) EPS, Q4 2025 earnings at ($0.09) EPS and FY2025 earnings at ($0.50) EPS.

HUT has been the topic of a number of other research reports. Craig Hallum upped their price target on shares of Hut 8 from $15.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $35.00 target price on shares of Hut 8 in a research report on Tuesday, January 7th. Benchmark reiterated a "buy" rating and set a $41.00 target price on shares of Hut 8 in a research note on Tuesday, January 7th. Piper Sandler started coverage on Hut 8 in a research note on Tuesday, December 17th. They issued an "overweight" rating and a $33.00 price target for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $30.00 price objective on shares of Hut 8 in a report on Tuesday. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Hut 8 has an average rating of "Buy" and a consensus price target of $29.89.

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Hut 8 Trading Up 0.7 %

HUT stock traded up $0.10 during midday trading on Tuesday, reaching $13.51. 5,317,118 shares of the company were exchanged, compared to its average volume of 5,145,030. Hut 8 has a one year low of $6.77 and a one year high of $31.95. The business has a 50-day moving average price of $21.00 and a two-hundred day moving average price of $18.68. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35.

Hedge Funds Weigh In On Hut 8

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Hut 8 by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 6,459,385 shares of the company's stock worth $132,352,000 after purchasing an additional 245,113 shares in the last quarter. State Street Corp lifted its position in Hut 8 by 12.6% during the third quarter. State Street Corp now owns 2,740,769 shares of the company's stock worth $33,602,000 after purchasing an additional 307,292 shares during the period. JAT Capital Mgmt LP acquired a new stake in Hut 8 during the third quarter worth about $32,260,000. Geode Capital Management LLC increased its holdings in Hut 8 by 21.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company's stock valued at $26,902,000 after buying an additional 381,720 shares during the period. Finally, Jericho Capital Asset Management L.P. acquired a new position in shares of Hut 8 in the 4th quarter valued at approximately $37,400,000. Institutional investors own 31.75% of the company's stock.

Hut 8 Company Profile

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.