Hut 8 Mining (HUT) Stock Forecast, Price Target & Predictions
HUT Stock Forecast
Hut 8 Mining stock forecast is as follows: an average price target of $15.70 (represents a 39.68% upside from HUT’s last price of $11.24) and a rating consensus of 'Buy', based on 12 wall street analysts offering a 1-year stock forecast.
HUT Price Target
The average price target for Hut 8 Mining (HUT) is $15.70 based on 1-year price targets from 12 Wall Street analysts in the past 3 months, with a price target range of $22.00 to $12.00. This represents a potential 39.68% upside from HUT's last price of $11.24.
HUT Analyst Ratings
According to 12 Wall Street analysts, Hut 8 Mining's rating consensus is 'Buy'. The analyst rating breakdown for HUT stock is 0 'Strong Buy' (0.00%), 10 'Buy' (83.33%), 2 'Hold' (16.67%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).
Hut 8 Mining Price Target by Analyst
| Date | Analyst | Company | Price Target | Price when Published | Price Target/Price when Published | Price Target/Last Closing Price |
|---|---|---|---|---|---|---|
| Aug 14, 2024 | Mark Palmer | Coker Palmer | $17.00 | $11.06 | 53.71% | 51.25% |
| Aug 14, 2024 | Mike Colonnese | H.C. Wainwright | $13.50 | $10.97 | 23.06% | 20.11% |
| Jun 27, 2024 | Joseph Vafi | Canaccord Genuity | $22.00 | $17.21 | 27.83% | 95.73% |
| Jun 14, 2024 | George Sutton | Craig-Hallum | $14.00 | $11.51 | 21.63% | 24.56% |
| May 16, 2024 | Mike Colonnese | H.C. Wainwright | $7.50 | $8.91 | -15.87% | -33.27% |
| May 16, 2024 | Mark Palmer | Coker Palmer | $12.00 | $8.91 | 34.60% | 6.76% |
| May 16, 2024 | George Sutton | Craig-Hallum | $12.00 | $8.83 | 35.90% | 6.76% |
| Apr 05, 2024 | Joseph Vafi | Canaccord Genuity | $14.00 | $9.69 | 44.48% | 24.56% |
| Mar 28, 2024 | Mike Colonnese | H.C. Wainwright | $9.00 | $11.04 | -18.48% | -19.93% |
| Mar 18, 2024 | John Todaro | Needham | $12.00 | $7.68 | 56.15% | 6.76% |
The latest Hut 8 Mining stock forecast, released on Aug 14, 2024 by Mark Palmer from Coker Palmer, set a price target of $17.00, which represents a 53.71% increase from the stock price at the time of the forecast ($11.06), and a 51.25% increase from HUT last price ($11.24).
Hut 8 Mining Price Target by Period
| 1M | 3M | 12M | |
|---|---|---|---|
| # Anlaysts | - | 3 | 10 |
| Avg Price Target | - | $17.50 | $13.30 |
| Last Closing Price | $11.24 | $11.24 | $11.24 |
| Upside/Downside | -100.00% | 55.69% | 18.33% |
In the current month, the average price target of Hut 8 Mining stock is -, according to 0 Wall Street analyst offering twelve months forecast. The average price target represents a -100.00% decrease as opposed to Hut 8 Mining's last price of $11.24. This month's average price target is down -100.00% compared to last quarter, and down -100.00% compared to last year.
Analyst Ratings Upgrades/Downgrades
| Date | Company | Previous Rating | New Rating | Rating Change |
|---|---|---|---|---|
| Aug 14, 2024 | Benchmark | Buy | Buy | Hold |
| Aug 14, 2024 | H.C. Wainwright | Sell | Buy | Upgrade |
| Jun 27, 2024 | Canaccord Genuity | Buy | Buy | Hold |
| Jun 25, 2024 | H.C. Wainwright | Sell | Sell | Hold |
| Jun 21, 2024 | Benchmark | Buy | Buy | Hold |
| Jun 14, 2024 | Craig-Hallum | Buy | Buy | Hold |
| May 16, 2024 | Benchmark | Buy | Buy | Hold |
| May 16, 2024 | H.C. Wainwright | Sell | Sell | Hold |
| May 16, 2024 | Needham | Buy | Buy | Hold |
| May 16, 2024 | Craig-Hallum | Hold | Buy | Upgrade |
Hut 8 Mining's last stock rating was published by Benchmark on Aug 14, 2024. The company gave HUT a "Buy" rating, the same as its previous rate.
Hut 8 Mining Financial Forecast
Hut 8 Mining Revenue Forecast
| Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | - | - | - | - | - | - | - | - | - | - | - | - | $19.18M | $19.02M | $21.83M | $31.67M | $43.84M | $53.33M | $57.90M | $50.34M | $33.55M | $32.51M | $12.99M |
| Avg Forecast | $67.12M | $65.89M | $58.54M | $57.29M | $55.15M | $52.69M | $53.57M | $50.97M | $65.79M | $87.05M | $21.83M | $31.57M | $43.82M | $53.34M | $27.16M | $34.92M | $44.33M | $55.07M | $58.32M | $43.59M | $27.87M | $22.99M | $9.12M |
| High Forecast | $82.73M | $81.21M | $72.15M | $70.61M | $67.97M | $64.94M | $66.02M | $62.83M | $81.09M | $107.29M | $26.91M | $38.91M | $54.01M | $65.74M | $33.48M | $43.04M | $50.34M | $62.54M | $66.23M | $49.50M | $31.65M | $26.10M | $10.36M |
| Low Forecast | $55.15M | $54.14M | $48.10M | $47.07M | $45.31M | $43.29M | $44.02M | $41.88M | $54.06M | $71.53M | $17.94M | $25.94M | $36.01M | $43.83M | $22.32M | $28.70M | $38.13M | $47.37M | $50.16M | $37.49M | $23.97M | $19.77M | $7.84M |
| # Analysts | 1 | 1 | - | - | - | - | 2 | 3 | 2 | - | 1 | - | - | - | - | - | - | - | - | - | - | - | - |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 0.44% | 0.36% | 0.80% | 0.91% | 0.99% | 0.97% | 0.99% | 1.15% | 1.20% | 1.41% | 1.42% |
Hut 8 Mining's average Quarter revenue forecast for Sep 23 based on 0 analysts is $31.57M, with a low forecast of $25.94M, and a high forecast of $38.91M. HUT's average Quarter revenue forecast represents a 64.58% increase compared to the company's last Quarter revenue of $19.18M (Jun 23).
Hut 8 Mining EBITDA Forecast
| Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | - | - | - | - | 2 | 3 | 2 | - | 1 | - | - | - | - | - | - | - | - | - | - | - | - |
| EBITDA | - | - | - | - | - | - | - | - | - | - | - | - | $-7.73M | $115.08M | $698.00K | $7.57M | $5.10M | $23.84M | $-89.38M | $23.47M | $-11.26M | $34.72M | $31.62M |
| Avg Forecast | $9.53M | $9.35M | $8.31M | $8.13M | $7.83M | $7.48M | $7.60M | $7.23M | $9.34M | $12.35M | $3.10M | $4.48M | $6.22M | $7.57M | $3.86M | $4.96M | $6.29M | $7.82M | $8.28M | $6.19M | $-43.91M | $3.26M | $1.29M |
| High Forecast | $11.74M | $11.53M | $10.24M | $10.02M | $9.65M | $9.22M | $9.37M | $8.92M | $11.51M | $15.23M | $3.82M | $5.52M | $7.67M | $9.33M | $4.75M | $6.11M | $7.14M | $8.88M | $9.40M | $7.03M | $-35.13M | $3.70M | $1.47M |
| Low Forecast | $7.83M | $7.68M | $6.83M | $6.68M | $6.43M | $6.14M | $6.25M | $5.94M | $7.67M | $10.15M | $2.55M | $3.68M | $5.11M | $6.22M | $3.17M | $4.07M | $5.41M | $6.72M | $7.12M | $5.32M | $-52.69M | $2.81M | $1.11M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | -1.24% | 15.20% | 0.18% | 1.53% | 0.81% | 3.05% | -10.80% | 3.79% | 0.26% | 10.64% | 24.42% |
0 analysts predict HUT's average Quarter EBITDA for Jun 23 to be $6.22M, with a high of $7.67M and a low of $5.11M. This is -94.60% lower than Hut 8 Mining's previous annual EBITDA (Mar 23) of $115.08M.
Hut 8 Mining Net Income Forecast
| Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | - | - | - | - | 2 | 3 | 2 | - | 1 | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Income | - | - | - | - | - | - | - | - | - | - | - | - | $-16.71M | $108.50M | $-343.06M | $-27.55M | $-88.07M | $55.71M | $-111.18M | $23.37M | $-20.43M | $35.52M | $27.33M |
| Avg Forecast | $-11.77M | $-14.13M | $-41.77M | $-190.94M | $90.10M | $23.87M | $-10.75M | $-30.75M | $-3.88M | $44.33M | $-398.28M | $-52.93M | $-216.69M | $137.18M | $-61.40M | $-28.49M | $10.62M | $36.45M | $73.57M | $57.45M | $-79.68M | $17.69M | $-31.04M |
| High Forecast | $-9.05M | $-10.85M | $-32.09M | $-146.68M | $117.33M | $31.08M | $-8.26M | $-23.62M | $-2.98M | $57.74M | $-305.96M | $-40.66M | $-166.46M | $178.65M | $-47.17M | $-21.89M | $12.49M | $42.88M | $86.53M | $67.57M | $-63.74M | $20.81M | $-25.40M |
| Low Forecast | $-15.33M | $-18.40M | $-54.39M | $-248.65M | $69.21M | $18.33M | $-14.00M | $-40.05M | $-5.06M | $34.06M | $-518.68M | $-68.93M | $-282.20M | $105.38M | $-79.97M | $-37.10M | $8.69M | $29.82M | $60.19M | $47.00M | $-95.61M | $14.47M | $-36.51M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 0.08% | 0.79% | 5.59% | 0.97% | -8.29% | 1.53% | -1.51% | 0.41% | 0.26% | 2.01% | -0.88% |
Hut 8 Mining's average Quarter net income forecast for Jun 23 is $-216.69M, with a range of $-282.20M to $-166.46M. HUT's average Quarter net income forecast represents a -299.71% decrease compared to the company's last Quarter net income of $108.50M (Mar 23).
Hut 8 Mining SG&A Forecast
| Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | - | - | - | - | 2 | 3 | 2 | - | 1 | - | - | - | - | - | - | - | - | - | - | - | - |
| SG&A | - | - | - | - | - | - | - | - | - | - | - | - | $12.01M | $22.90M | $13.78M | $9.75M | $10.25M | $8.37M | $8.36M | $6.17M | $6.97M | $4.08M | $874.69K |
| Avg Forecast | $9.77M | $9.59M | $8.52M | $8.34M | $8.03M | $7.67M | $7.80M | $7.42M | $9.58M | $12.68M | $3.18M | $4.60M | $6.38M | $7.77M | $3.96M | $5.09M | $6.46M | $8.02M | $8.49M | $6.35M | $27.20M | $3.35M | $1.33M |
| High Forecast | $12.05M | $11.83M | $10.51M | $10.28M | $9.90M | $9.46M | $9.61M | $9.15M | $11.81M | $15.62M | $3.92M | $5.67M | $7.86M | $9.57M | $4.88M | $6.27M | $7.33M | $9.11M | $9.64M | $7.21M | $32.64M | $3.80M | $1.51M |
| Low Forecast | $8.03M | $7.88M | $7.00M | $6.85M | $6.60M | $6.30M | $6.41M | $6.10M | $7.87M | $10.42M | $2.61M | $3.78M | $5.24M | $6.38M | $3.25M | $4.18M | $5.55M | $6.90M | $7.30M | $5.46M | $21.76M | $2.88M | $1.14M |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 1.88% | 2.95% | 3.48% | 1.92% | 1.59% | 1.04% | 0.98% | 0.97% | 0.26% | 1.22% | 0.66% |
Hut 8 Mining's average Quarter SG&A projection for Sep 23 is $4.60M, based on 0 Wall Street analysts, with a range of $3.78M to $5.67M. The forecast indicates a -61.72% fall compared to HUT last annual SG&A of $12.01M (Jun 23).
Hut 8 Mining EPS Forecast
| Jun 26 | Mar 26 | Dec 25 | Sep 25 | Jun 25 | Mar 25 | Dec 24 | Sep 24 | Jun 24 | Mar 24 | Dec 23 | Sep 23 | Jun 23 | Mar 23 | Dec 22 | Sep 22 | Jun 22 | Mar 22 | Dec 21 | Sep 21 | Jun 21 | Mar 21 | Dec 20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| # Analysts | 1 | 1 | - | - | - | - | 2 | 3 | 2 | - | 1 | - | - | - | - | - | - | - | - | - | - | - | - |
| EPS | - | - | - | - | - | - | - | - | - | - | - | - | $-0.08 | $0.49 | $-1.56 | $-0.14 | $-0.49 | $0.33 | $-0.81 | $0.16 | $-0.14 | $0.31 | $0.29 |
| Avg Forecast | $-0.13 | $-0.16 | $-0.47 | $-2.16 | $1.02 | $0.27 | $-0.12 | $-0.35 | $-0.04 | $0.50 | $-4.50 | $-0.60 | $-2.45 | $1.55 | $-0.69 | $-0.32 | $0.12 | $0.41 | $0.83 | $0.65 | $0.17 | $0.20 | $-0.35 |
| High Forecast | $-0.10 | $-0.12 | $-0.36 | $-1.66 | $1.33 | $0.35 | $-0.09 | $-0.27 | $-0.03 | $0.65 | $-3.46 | $-0.46 | $-1.88 | $2.02 | $-0.53 | $-0.25 | $0.14 | $0.48 | $0.98 | $0.76 | $0.21 | $0.24 | $-0.29 |
| Low Forecast | $-0.17 | $-0.21 | $-0.61 | $-2.81 | $0.78 | $0.21 | $-0.16 | $-0.45 | $-0.06 | $0.38 | $-5.86 | $-0.78 | $-3.19 | $1.19 | $-0.90 | $-0.42 | $0.10 | $0.34 | $0.68 | $0.53 | $0.14 | $0.16 | $-0.41 |
| Surprise % | - | - | - | - | - | - | - | - | - | - | - | - | 0.03% | 0.32% | 2.25% | 0.43% | -4.08% | 0.80% | -0.97% | 0.25% | -0.80% | 1.55% | -0.83% |
According to 0 Wall Street analysts, Hut 8 Mining's projected average Quarter EPS for Jun 23 is $-2.45, with a low estimate of $-3.19 and a high estimate of $-1.88. This represents a -599.70% decrease compared to HUT previous annual EPS of $0.49 (Mar 23).
Hut 8 Mining Peer Comparison by Price Target
| Ticker | Company | Last Closing Price | Avg Price Target | Upside/Downside | Avg Rating |
|---|---|---|---|---|---|
| CLSK | CleanSpark | $9.38 | $25.33 | 170.04% | Buy |
| RIOT | Riot Blockchain | $7.20 | $16.14 | 124.17% | Buy |
| BTBT | Bit Digital | $2.87 | $6.00 | 109.06% | Buy |
| BITF | Bitfarms | $2.04 | $4.26 | 108.82% | Buy |
| MARA | Marathon Digital | $16.12 | $31.20 | 93.55% | Buy |
| HIVE | HIVE Blockchain | $3.08 | $5.00 | 62.34% | Buy |
| WULF | TeraWulf | $4.24 | $6.08 | 43.40% | Buy |
| HUT | Hut 8 Mining | $11.24 | $15.70 | 39.68% | Buy |
HUT Forecast FAQ
Is Hut 8 Mining a good buy?
Yes, according to 12 Wall Street analysts, Hut 8 Mining (HUT) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 10 'Buy' recommendations, accounting for 83.33% of HUT's total ratings.
What is HUT's price target?
Hut 8 Mining (HUT) average price target is $15.7 with a range of $12 to $22, implying a 39.68% from its last price of $11.24. The data is based on 12 Wall Street analysts who provided a twelve-month price target estimate in the last three months.
Will Hut 8 Mining stock go up soon?
According to Wall Street analysts' prediction for HUT stock, the company can go up by 39.68% (from the last price of $11.24 to the average price target of $15.7), up by 95.73% based on the highest stock price target, and up by 6.76% based on the lowest stock price target.
Can Hut 8 Mining stock reach $20?
HUT's highest twelve months analyst stock price target of $22 supports the claim that Hut 8 Mining can reach $20 in the near future.
What are Hut 8 Mining's analysts' financial forecasts?
Hut 8 Mining's analysts financial forecasts for the fiscal year (Dec 2024) are as follows: average revenue is $257.38M (high $317.23M, low $211.49M), average EBITDA is $36.53M (high $45.02M, low $30.02M), average net income is $-1.055M (high $22.87M, low $-25.052M), average SG&A $37.48M (high $46.2M, low $30.8M), and average EPS is $-0.0119 (high $0.258, low $-0.283). HUT's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $223.66M (high $275.67M, low $183.78M), average EBITDA is $31.74M (high $39.12M, low $26.08M), average net income is $-119M (high $-30.347M, low $-216M), average SG&A $32.57M (high $40.14M, low $26.76M), and average EPS is $-1.342 (high $-0.343, low $-2.435).
Did the HUT's actual financial results beat the analysts' financial forecasts?
Based on Hut 8 Mining's last annual report (Dec 2022), the company's revenue was $150.68M, which missed the average analysts forecast of $161.49M by -6.69%. Apple's EBITDA was $3.57M, missing the average prediction of $22.92M by -84.43%. The company's net income was $-243M, beating the average estimation of $-42.824M by 467.00%. Apple's SG&A was $42.16M, beating the average forecast of $23.52M by 79.28%. Lastly, the company's EPS was $-1.1, beating the average prediction of $-0.484 by 127.32%. In terms of the last quarterly report (Jun 2023), Hut 8 Mining's revenue was $19.18M, missing the average analysts' forecast of $43.82M by -56.22%. The company's EBITDA was $-7.734M, missing the average prediction of $6.22M by -224.36%. Hut 8 Mining's net income was $-16.713M, missing the average estimation of $-217M by -92.29%. The company's SG&A was $12.01M, beating the average forecast of $6.38M by 88.20%. Lastly, the company's EPS was $-0.0755, missing the average prediction of $-2.449 by -96.92%