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Hut 8 Mining (HUT) Stock Forecast, Price Target & Predictions

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HUT Stock Forecast

Hut 8 Mining stock forecast is as follows: an average price target of $14.90 (represents a -35.61% downside from HUT’s last price of $23.14) and a rating consensus of 'Buy', based on 16 wall street analysts offering a 1-year stock forecast.

HUT Price Target

The average price target for Hut 8 Mining (HUT) is $14.90 based on 1-year price targets from 16 Wall Street analysts in the past 3 months, with a price target range of $22.00 to $8.00. This represents a potential -35.61% downside from HUT's last price of $23.14.

HUT Analyst Ratings

Buy

According to 16 Wall Street analysts, Hut 8 Mining's rating consensus is 'Buy'. The analyst rating breakdown for HUT stock is 0 'Strong Buy' (0.00%), 11 'Buy' (68.75%), 5 'Hold' (31.25%), 0 'Sell' (0.00%), and 0 'Strong Sell' (0.00%).

Hut 8 Mining Price Target by Analyst

DateAnalystCompanyPrice TargetPrice when PublishedPrice Target/Price when PublishedPrice Target/Last Closing Price
Sep 24, 2024John TodaroNeedham$8.00$11.64-31.27%-65.43%
Sep 24, 2024John TodaroNeedham$16.50$11.5742.61%-28.69%
Aug 14, 2024Mark PalmerCoker Palmer$17.00$11.0653.71%-26.53%
Aug 14, 2024Mike ColonneseH.C. Wainwright$13.50$10.9723.06%-41.66%
Jun 27, 2024Joseph VafiCanaccord Genuity$22.00$17.2127.83%-4.93%
Jun 14, 2024George SuttonCraig-Hallum$14.00$11.5121.63%-39.50%
May 16, 2024Mike ColonneseH.C. Wainwright$7.50$8.91-15.87%-67.59%
May 16, 2024Mark PalmerCoker Palmer$12.00$8.9134.60%-48.14%
May 16, 2024George SuttonCraig-Hallum$12.00$8.8335.90%-48.14%
Apr 05, 2024Joseph VafiCanaccord Genuity$14.00$9.6944.48%-39.50%
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The latest Hut 8 Mining stock forecast, released on Sep 24, 2024 by John Todaro from Needham, set a price target of $8.00, which represents a -31.27% decrease from the stock price at the time of the forecast ($11.64), and a -65.43% decrease from HUT last price ($23.14).

Hut 8 Mining Price Target by Period

1M3M12M
# Anlaysts-212
Avg Price Target-$12.25$13.13
Last Closing Price$23.14$23.14$23.14
Upside/Downside-100.00%-47.06%-43.26%

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 $23.14. 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

DateCompanyPrevious RatingNew RatingRating Change
Oct 02, 2024Craig-HallumBuyBuyHold
Sep 24, 2024SusquehannaNeutralNeutralHold
Sep 24, 2024OppenheimerOutperformOutperformHold
Sep 24, 2024Morgan StanleyEqual-WeightEqual-WeightHold
Sep 24, 2024Piper SandlerOverweightOverweightHold
Sep 24, 2024NeedhamBuyNeutralDowngrade
Sep 24, 2024Wedbush-OutperformUpgrade
Sep 24, 2024NeedhamBuyBuyHold
Sep 20, 2024H.C. WainwrightBuyBuyHold
Aug 14, 2024BenchmarkBuyBuyHold
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Hut 8 Mining's last stock rating was published by Craig-Hallum on Oct 02, 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 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 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$106.06M$91.49M$65.93M$48.93M$45.62M$48.12M$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$67.12M$65.89M$106.06M$91.49M$65.93M$48.93M$45.62M$50.64M$65.79M$87.05M$21.83M$32.32M$43.82M$53.34M$27.16M$34.92M$44.33M$55.07M$58.32M$43.59M$27.87M$22.99M$9.12M
Low Forecast$67.12M$65.89M$106.06M$91.49M$65.93M$48.93M$45.62M$45.61M$65.79M$87.05M$21.83M$30.83M$43.82M$53.34M$27.16M$34.92M$44.33M$55.07M$58.32M$43.59M$27.87M$22.99M$9.12M
# Analysts11111123211111111111111
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 1 analysts is $31.57M, with a low forecast of $30.83M, and a high forecast of $32.32M. 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 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20
# Analysts11111123211111111111111
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$10.50M$10.30M$16.59M$14.31M$10.31M$7.65M$7.13M$7.53M$10.29M$13.61M$3.42M$4.94M$6.85M$8.34M$4.25M$5.46M$6.93M$8.61M$9.12M$6.82M$-43.91M$3.60M$1.43M
High Forecast$10.50M$10.30M$16.59M$14.31M$10.31M$7.65M$7.13M$7.92M$10.29M$13.61M$3.42M$5.05M$6.85M$8.34M$4.25M$5.46M$6.93M$8.61M$9.12M$6.82M$-35.13M$3.60M$1.43M
Low Forecast$10.50M$10.30M$16.59M$14.31M$10.31M$7.65M$7.13M$7.13M$10.29M$13.61M$3.42M$4.82M$6.85M$8.34M$4.25M$5.46M$6.93M$8.61M$9.12M$6.82M$-52.69M$3.60M$1.43M
Surprise %-------------1.13%13.80%0.16%1.39%0.74%2.77%-9.80%3.44%0.26%9.66%22.16%

1 analysts predict HUT's average Quarter EBITDA for Jun 23 to be $6.85M, with a high of $6.85M and a low of $6.85M. This is -94.04% lower than Hut 8 Mining's previous annual EBITDA (Mar 23) of $115.08M.

Hut 8 Mining Net Income Forecast

Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20
# Analysts11111123211111111111111
Net Income------------$-16.71M$108.50M$-343.06M$-27.55M$-88.07M$55.71M$-111.18M$23.37M$-20.43M$35.52M$27.33M
Avg Forecast$-12.00M$-14.40M$-5.92M$3.67M$-2.65M$-16.97M$-15.74M$-35.65M$-3.96M$45.18M$-405.90M$-53.95M$-220.84M$139.81M$-62.58M$-29.04M$10.82M$37.15M$74.98M$58.55M$-79.68M$18.03M$-31.64M
High Forecast$-12.00M$-14.40M$-5.92M$3.67M$-2.65M$-16.97M$-15.74M$-35.65M$-3.96M$45.18M$-405.90M$-53.95M$-220.84M$139.81M$-62.58M$-29.04M$10.82M$37.15M$74.98M$58.55M$-63.74M$18.03M$-31.64M
Low Forecast$-12.00M$-14.40M$-5.92M$3.67M$-2.65M$-16.97M$-15.74M$-35.65M$-3.96M$45.18M$-405.90M$-53.95M$-220.84M$139.81M$-62.58M$-29.04M$10.82M$37.15M$74.98M$58.55M$-95.61M$18.03M$-31.64M
Surprise %------------0.08%0.78%5.48%0.95%-8.14%1.50%-1.48%0.40%0.26%1.97%-0.86%

Hut 8 Mining's average Quarter net income forecast for Jun 23 is $-220.84M, with a range of $-220.84M to $-220.84M. HUT's average Quarter net income forecast represents a -303.53% decrease compared to the company's last Quarter net income of $108.50M (Mar 23).

Hut 8 Mining SG&A Forecast

Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20
# Analysts11111123211111111111111
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$13.32M$13.07M$21.04M$18.15M$13.08M$9.71M$9.05M$9.55M$13.05M$17.27M$4.33M$6.26M$8.69M$10.58M$5.39M$6.93M$8.80M$10.93M$11.57M$8.65M$27.20M$4.56M$1.81M
High Forecast$13.32M$13.07M$21.04M$18.15M$13.08M$9.71M$9.05M$10.05M$13.05M$17.27M$4.33M$6.41M$8.69M$10.58M$5.39M$6.93M$8.80M$10.93M$11.57M$8.65M$32.64M$4.56M$1.81M
Low Forecast$13.32M$13.07M$21.04M$18.15M$13.08M$9.71M$9.05M$9.05M$13.05M$17.27M$4.33M$6.12M$8.69M$10.58M$5.39M$6.93M$8.80M$10.93M$11.57M$8.65M$21.76M$4.56M$1.81M
Surprise %------------1.38%2.16%2.56%1.41%1.17%0.77%0.72%0.71%0.26%0.89%0.48%

Hut 8 Mining's average Quarter SG&A projection for Sep 23 is $6.26M, based on 1 Wall Street analysts, with a range of $6.12M to $6.41M. The forecast indicates a -47.84% fall compared to HUT last annual SG&A of $12.01M (Jun 23).

Hut 8 Mining EPS Forecast

Jun 26Mar 26Dec 25Sep 25Jun 25Mar 25Dec 24Sep 24Jun 24Mar 24Dec 23Sep 23Jun 23Mar 23Dec 22Sep 22Jun 22Mar 22Dec 21Sep 21Jun 21Mar 21Dec 20
# Analysts11111123211111111111111
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$-0.16$-0.07$0.04$-0.03$-0.19$-0.17$-0.40$-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$-0.13$-0.16$-0.07$0.04$-0.03$-0.19$-0.17$-0.40$-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
Low Forecast$-0.13$-0.16$-0.07$0.04$-0.03$-0.19$-0.17$-0.40$-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
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 1 Wall Street analysts, Hut 8 Mining's projected average Quarter EPS for Jun 23 is $-2.45, with a low estimate of $-2.45 and a high estimate of $-2.45. 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

TickerCompanyLast Closing PriceAvg Price TargetUpside/DownsideAvg Rating
BITFBitfarms$2.11$4.26101.90%Buy
CLSKCleanSpark$13.98$25.3381.19%Buy
HIVEHIVE Blockchain$4.31$6.5050.81%Buy
BTBTBit Digital$4.38$6.5048.40%Buy
MARAMarathon Digital$20.79$29.2540.69%Buy
RIOTRiot Blockchain$11.87$16.5639.51%Buy
WULFTeraWulf$6.95$7.081.87%Buy
HUTHut 8 Mining$23.14$14.90-35.61%Buy

HUT Forecast FAQ

Is Hut 8 Mining a good buy?

Yes, according to 16 Wall Street analysts, Hut 8 Mining (HUT) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 11 'Buy' recommendations, accounting for 68.75% of HUT's total ratings.

What is HUT's price target?

Hut 8 Mining (HUT) average price target is $14.9 with a range of $8 to $22, implying a -35.61% from its last price of $23.14. The data is based on 16 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 down by -35.61% (from the last price of $23.14 to the average price target of $14.9), down by -4.93% based on the highest stock price target, and down by -65.43% based on the lowest stock price target.

Can Hut 8 Mining stock reach $30?

HUT's average twelve months analyst stock price target of $14.9 does not support the claim that Hut 8 Mining can reach $30 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 $246.58M (high $249.09M, low $244.06M), average EBITDA is $38.57M (high $38.96M, low $38.17M), average net income is $-10.163M (high $-10.163M, low $-10.163M), average SG&A $48.92M (high $49.42M, low $48.42M), and average EPS is $-0.113 (high $-0.113, low $-0.113). HUT's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $312.42M (high $312.42M, low $312.42M), average EBITDA is $48.86M (high $48.86M, low $48.86M), average net income is $-21.871M (high $-21.871M, low $-21.871M), average SG&A $61.98M (high $61.98M, low $61.98M), and average EPS is $-0.242 (high $-0.242, low $-0.242).

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 $25.26M by -85.87%. The company's net income was $-243M, beating the average estimation of $-43.643M by 456.36%. Apple's SG&A was $42.16M, beating the average forecast of $32.04M by 31.59%. 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 $6.85M by -212.85%. Hut 8 Mining's net income was $-16.713M, missing the average estimation of $-221M by -92.43%. The company's SG&A was $12.01M, beating the average forecast of $8.69M by 38.13%. Lastly, the company's EPS was $-0.0755, missing the average prediction of $-2.449 by -96.92%