Canaccord Genuity Group Raises Hut 8 (NASDAQ:HUT) Price Target to $130.00

Hut 8 (NASDAQ:HUT) had its target price hoisted by equities researchers at Canaccord Genuity Group from $70.00 to $130.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 32.03% from the stock’s previous close.

HUT has been the subject of a number of other research reports. Wall Street Zen cut Hut 8 from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Northland Securities set a $120.00 target price on Hut 8 in a research note on Thursday. Cantor Fitzgerald raised their target price on Hut 8 from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Roth Mkm restated a “buy” rating and issued a $80.00 target price on shares of Hut 8 in a research note on Tuesday, January 27th. Finally, Piper Sandler raised their target price on Hut 8 from $93.00 to $127.00 and gave the company an “overweight” rating in a research note on Wednesday. Sixteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $99.94.

Hut 8 Trading Down 2.7%

HUT opened at $98.46 on Thursday. The stock has a market cap of $11.09 billion, a PE ratio of -32.82 and a beta of 4.48. The company has a quick ratio of 1.09, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. The business has a 50 day moving average of $60.68 and a 200-day moving average of $53.27. Hut 8 has a 52 week low of $13.48 and a 52 week high of $111.33.

Insiders Place Their Bets

In other Hut 8 news, CFO Sean Joseph Glennan sold 4,625 shares of Hut 8 stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the completion of the transaction, the chief financial officer owned 12,068 shares in the company, valued at approximately $591,935.40. The trade was a 27.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victor Semah sold 10,518 shares of Hut 8 stock in a transaction on Monday, May 4th. The shares were sold at an average price of $76.83, for a total value of $808,097.94. Following the transaction, the insider owned 41,378 shares of the company’s stock, valued at $3,179,071.74. The trade was a 20.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 20,641 shares of company stock valued at $1,304,631 in the last quarter. 11.20% of the stock is owned by company insiders.

Institutional Trading of Hut 8

A number of institutional investors and hedge funds have recently modified their holdings of HUT. GAMMA Investing LLC bought a new stake in shares of Hut 8 in the 4th quarter worth $30,000. Imprint Wealth LLC bought a new stake in shares of Hut 8 in the 4th quarter worth $38,000. Russell Investments Group Ltd. increased its holdings in shares of Hut 8 by 235.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after purchasing an additional 1,719 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of Hut 8 in the 1st quarter worth $47,000. Finally, Activest Wealth Management bought a new stake in shares of Hut 8 in the 4th quarter worth $49,000. Institutional investors own 31.75% of the company’s stock.

More Hut 8 News

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Hut 8 signed a major Texas data center lease, including a reported $9.8 billion campus agreement and a separate 352MW lease with an investment-grade tenant, underscoring strong demand for its AI infrastructure strategy. Hut 8 signs 352MW data center lease in Texas with investment grade tenant
• Positive Sentiment: Canaccord Genuity, Rosenblatt, Citizens JMP, Needham, and Piper Sandler all raised price targets and kept bullish ratings, signaling growing confidence in Hut 8’s transition from crypto mining to AI data infrastructure. Analyst price target updates
• Positive Sentiment: Management highlighted accelerating demand and defended the company’s crypto-to-AI power story, which may be helping support investor sentiment after recent skepticism. Hut 8 CEO: Investor skepticism on crypto to AI power story is over
• Positive Sentiment: Recent earnings-related coverage noted revenue more than tripled year over year, helping explain the stock’s strong upward momentum and renewed enthusiasm around execution. Hut 8 revenues more-than-triple, shares hit all-time high
• Neutral Sentiment: Hut 8 also outlined its capital intensity for AI buildouts and targeted initial data hall delivery in Q2 2027, which shows a long runway but also reminds investors the expansion will take time. Hut 8 outlines capex and delivery timeline
• Negative Sentiment: Some traders took profits after the stock’s sharp prior-day surge, with coverage noting the shares were lower following a very large move higher earlier in the week. Why Is Hut 8 Stock Falling On Thursday?

Hut 8 Company Profile

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.