Hut 8 (HUT)

• Market cap: $1.68B
• 1 day: -8.19%
• 5 days: -12.83%
• 1 month: -31.36%
• 3 months: -23.64%
• 6 months: 47.09%
• Year to date: -18.09%
• 1 year: 105.15%
• 5 years: 70.60%
• 10 years: 70.60%
• Sector: Financials
• Industry: Finance Services

About: Hut 8 Corp is engaged in the mining of digital assets with an operational focus on utilizing specialized equipment to solve complex computational problems to validate transactions on the Bitcoin blockchain and receiving Bitcoin in return for successful services. The company has four reportable business segments: Digital Assets Mining, Managed Services, High Performance Computing -Colocation and Cloud, and Other. It derives maximum revenue from Digital Assets Mining segment.

Employees: 219

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

152% more first-time investments, than exits

New positions opened: 68 | Existing positions closed: 27

106% more call options, than puts

Call options by funds: $196M | Put options by funds: $95.2M

82% more capital invested

Capital invested by funds: $574M [Q3] → $1.05B (+$471M) [Q4]

23% more funds holding

Funds holding: 158 [Q3] → 195 (+37) [Q4]

23% more repeat investments, than reductions

Existing positions increased: 58 | Existing positions reduced: 47

3.32% more ownership

Funds ownership: 51.12% [Q3] → 54.44% (+3.32%) [Q4]

0% more funds holding in top 10

Funds holding in top 10: 1 [Q3] → 1 (+0) [Q4]

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $33 84% upside
• Avg. target: $37 104% upside
• High target: $41 129% upside

5 analyst ratings

• positive: 5 100%
• neutral: 0 0%
• negative: 0 0%

Needham John Todaro 76% 1-year accuracy 53 / 70 met price target	112% upside $38	Buy Reiterated	13 Jan 2025
Benchmark Mark Palmer 77% 1-year accuracy 63 / 82 met price target	129% upside $41	Buy Reiterated	7 Jan 2025
Cantor Fitzgerald Brett Knoblauch 68% 1-year accuracy 55 / 81 met price target	95% upside $35	Overweight Reiterated	7 Jan 2025
Piper Sandler Patrick Moley 89% 1-year accuracy 39 / 44 met price target	84% upside $33	Overweight Initiated	17 Dec 2024
Jones Trading Stephen Glagola 33% 1-year accuracy 1 / 3 met price target	101% upside $36	Buy Initiated	12 Dec 2024