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

Hut 8 (NASDAQ:HUT) had its target price lowered by HC Wainwright from $35.00 to $30.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock. 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 several other reports. Canaccord Genuity Group lifted their price target on Hut 8 from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Craig Hallum raised their target price on Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Keefe, Bruyette & Woods began coverage on shares of Hut 8 in a research report on Wednesday, January 8th. They issued an “outperform” rating on the stock. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Hut 8 in a research report on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 target price on shares of Hut 8 in a report on Tuesday, January 7th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $31.38.

Hut 8 Price Performance

HUT stock opened at $13.41 on Tuesday. The firm’s 50-day moving average is $21.00 and its two-hundred day moving average is $18.68. Hut 8 has a 52 week low of $6.77 and a 52 week high of $31.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its holdings in shares of Hut 8 by 77.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock valued at $26,000 after acquiring an additional 545 shares during the period. R Squared Ltd acquired a new stake in Hut 8 during the 4th quarter valued at $26,000. Optiver Holding B.V. purchased a new stake in shares of Hut 8 in the fourth quarter valued at $35,000. Capital Performance Advisors LLP acquired a new stake in shares of Hut 8 in the third quarter worth $40,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Hut 8 by 832.4% during the fourth quarter. Russell Investments Group Ltd. now owns 2,042 shares of the company’s stock valued at $42,000 after buying an additional 1,823 shares in the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

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.