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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 $17.63 (represents a -32.53% downside from HUT’s last price of $26.13) and a rating consensus of 'Buy', based on 17 wall street analysts offering a 1-year stock forecast.

HUT Price Target

The average price target for Hut 8 Mining (HUT) is $17.63 based on 1-year price targets from 17 Wall Street analysts in the past 3 months, with a price target range of $32.00 to $8.00. This represents a potential -32.53% downside from HUT's last price of $26.13.

HUT Analyst Ratings

Buy

According to 17 Wall Street analysts, Hut 8 Mining's rating consensus is 'Buy'. The analyst rating breakdown for HUT stock is 0 'Strong Buy' (0.00%), 12 'Buy' (70.59%), 5 'Hold' (29.41%), 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
Nov 15, 2024Joseph VafiCanaccord Genuity$32.00$23.7834.57%22.46%
Sep 24, 2024John TodaroNeedham$8.00$11.64-31.27%-69.38%
Sep 24, 2024John TodaroNeedham$16.50$11.5742.61%-36.85%
Aug 14, 2024Mark PalmerCoker Palmer$17.00$11.0653.71%-34.94%
Aug 14, 2024Mike ColonneseH.C. Wainwright$13.50$10.9723.06%-48.34%
Jun 27, 2024Joseph VafiCanaccord Genuity$22.00$17.2127.83%-15.81%
Jun 14, 2024George SuttonCraig-Hallum$14.00$11.5121.63%-46.42%
May 16, 2024Mike ColonneseH.C. Wainwright$7.50$8.91-15.87%-71.30%
May 16, 2024Mark PalmerCoker Palmer$12.00$8.9134.60%-54.08%
May 16, 2024George SuttonCraig-Hallum$12.00$8.8335.90%-54.08%
Apr 05, 2024Joseph VafiCanaccord Genuity$14.00$9.6944.48%-46.42%
Mar 28, 2024Mike ColonneseH.C. Wainwright$9.00$11.04-18.48%-65.56%
Mar 18, 2024John TodaroNeedham$12.00$7.6856.15%-54.08%
Dec 09, 2022H.C. Wainwright$1.50$1.0838.89%-94.26%

The latest Hut 8 Mining stock forecast, released on Nov 15, 2024 by Joseph Vafi from Canaccord Genuity, set a price target of $32.00, which represents a 34.57% increase from the stock price at the time of the forecast ($23.78), and a 22.46% increase from HUT last price ($26.13).

Hut 8 Mining Price Target by Period

1M3M12M
# Anlaysts-313
Avg Price Target-$18.83$14.58
Last Closing Price$26.13$26.13$26.13
Upside/Downside-100.00%-27.94%-44.20%

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 $26.13. 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
Dec 09, 2024Cantor FitzgeraldOverweightInitialise
Nov 15, 2024Canaccord GenuityBuyBuyHold
Oct 02, 2024Craig-HallumBuyBuyHold
Sep 24, 2024Morgan StanleyEqual-WeightEqual-WeightHold
Sep 24, 2024Piper SandlerOverweightOverweightHold
Sep 24, 2024OppenheimerOutperformOutperformHold
Sep 24, 2024WedbushOutperformUpgrade
Sep 24, 2024SusquehannaNeutralNeutralHold
Sep 24, 2024NeedhamBuyNeutralDowngrade
Sep 24, 2024NeedhamBuyBuyHold
Sep 20, 2024H.C. WainwrightBuyBuyHold
Aug 14, 2024BenchmarkBuyBuyHold
Aug 14, 2024H.C. WainwrightSellBuyUpgrade
Jun 27, 2024Canaccord GenuityBuyBuyHold
Jun 25, 2024H.C. WainwrightSellSellHold
Jun 21, 2024BenchmarkBuyBuyHold
Jun 14, 2024Craig-HallumBuyBuyHold
May 16, 2024H.C. WainwrightSellSellHold
May 16, 2024NeedhamBuyBuyHold
May 16, 2024BenchmarkBuyBuyHold
May 16, 2024Craig-HallumHoldBuyUpgrade
Apr 05, 2024Canaccord GenuityBuyBuyHold
Apr 01, 2024Craig-HallumHoldHoldHold
Mar 28, 2024H.C. WainwrightSellSellHold
Mar 28, 2024H.C. WainwrightBuyBuyHold
Mar 18, 2024NeedhamBuyInitialise
May 15, 2023Canaccord GenuityBuyBuyHold
May 15, 2023Morgan StanleyOverweightOverweightHold
May 15, 2023BarclaysOverweightOverweightHold
May 15, 2023Raymond JamesOutperformOutperformHold
May 15, 2023CitigroupNeutralNeutralHold
May 15, 2023Goldman SachsNeutralNeutralHold
May 15, 2023UBSBuyBuyHold
May 15, 2023Deutsche BankOutperformUpgrade
Mar 13, 2023Canaccord GenuityBuyBuyHold

Hut 8 Mining's last stock rating was published by Cantor Fitzgerald on Dec 09, 2024. The company Initialise its HUT rating from "null" to "Overweight".

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$116.22M$111.22M$84.81M$59.89M$50.95M$48.12M$65.79M$87.05M$21.83M$31.57M$43.82M$53.34M$61.49M$34.92M$44.33M$55.07M$58.32M$43.59M$27.87M$22.99M$9.12M
High Forecast$84.81M$83.25M$146.85M$140.53M$107.16M$75.67M$58.87M$60.80M$83.13M$109.99M$27.59M$32.32M$55.37M$67.39M$77.70M$34.92M$44.33M$55.07M$58.32M$43.59M$27.87M$22.99M$9.12M
Low Forecast$55.88M$54.85M$96.75M$92.58M$70.60M$49.85M$43.02M$40.06M$54.77M$72.46M$18.18M$30.83M$36.48M$44.40M$51.19M$34.92M$44.33M$55.07M$58.32M$43.59M$27.87M$22.99M$9.12M
# Analysts22111454111111111111111
Surprise %------------0.44%0.36%0.36%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
# Analysts22111454111111111111111
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$18.18M$17.39M$13.26M$9.37M$7.97M$7.53M$10.29M$13.61M$3.42M$4.94M$6.85M$8.34M$9.62M$5.46M$6.93M$8.61M$9.12M$6.82M$-43.91M$3.60M$1.43M
High Forecast$13.26M$13.02M$22.97M$21.98M$16.76M$11.84M$9.21M$9.51M$13.00M$17.20M$4.32M$5.05M$8.66M$10.54M$12.15M$5.46M$6.93M$8.61M$9.12M$6.82M$-35.13M$3.60M$1.43M
Low Forecast$8.74M$8.58M$15.13M$14.48M$11.04M$7.80M$6.73M$6.27M$8.57M$11.33M$2.84M$4.82M$5.71M$6.94M$8.01M$5.46M$6.93M$8.61M$9.12M$6.82M$-52.69M$3.60M$1.43M
Surprise %-------------1.13%13.80%0.07%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 $8.66M and a low of $5.71M. 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
# Analysts22111454111111111111111
Net Income------------$-16.71M$108.50M$-343.06M$-27.55M$-88.07M$55.71M$-111.18M$23.37M$-20.43M$35.52M$27.33M
Avg Forecast$-12.83M$-15.39M$16.53M$13.99M$5.60M$-12.67M$-17.76M$-38.10M$-4.23M$48.30M$-433.87M$-57.66M$-236.06M$149.44M$84.49M$-29.04M$10.82M$37.15M$74.98M$58.55M$-79.68M$18.03M$-31.64M
High Forecast$-10.03M$-12.04M$22.19M$18.78M$7.52M$-9.91M$-13.89M$-29.81M$-3.31M$64.84M$-339.38M$-45.10M$-184.64M$200.64M$113.44M$-29.04M$10.82M$37.15M$74.98M$58.55M$-63.74M$18.03M$-31.64M
Low Forecast$-17.22M$-20.67M$12.93M$10.94M$4.38M$-17.01M$-23.84M$-51.16M$-5.68M$37.78M$-582.52M$-77.42M$-316.93M$116.89M$66.09M$-29.04M$10.82M$37.15M$74.98M$58.55M$-95.61M$18.03M$-31.64M
Surprise %------------0.07%0.73%-4.06%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 $-236.06M, with a range of $-316.93M to $-184.64M. HUT's average Quarter net income forecast represents a -317.56% 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
# Analysts22111454111111111111111
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$23.06M$22.07M$16.83M$11.88M$10.11M$9.55M$13.05M$17.27M$4.33M$6.26M$8.69M$10.58M$12.20M$6.93M$8.80M$10.93M$11.57M$8.65M$27.20M$4.56M$1.81M
High Forecast$16.83M$16.52M$29.14M$27.88M$21.26M$15.01M$11.68M$12.06M$16.49M$21.82M$5.47M$6.41M$10.98M$13.37M$15.41M$6.93M$8.80M$10.93M$11.57M$8.65M$32.64M$4.56M$1.81M
Low Forecast$11.09M$10.88M$19.20M$18.37M$14.01M$9.89M$8.54M$7.95M$10.87M$14.38M$3.61M$6.12M$7.24M$8.81M$10.16M$6.93M$8.80M$10.93M$11.57M$8.65M$21.76M$4.56M$1.81M
Surprise %------------1.38%2.16%1.13%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
# Analysts22111454111111111111111
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$0.17$0.15$0.06$-0.13$-0.18$-0.40$-0.04$0.50$-4.50$-0.60$-2.45$1.55$0.88$-0.32$0.12$0.41$0.83$0.65$0.17$0.20$-0.35
High Forecast$-0.10$-0.12$0.23$0.19$0.08$-0.10$-0.14$-0.31$-0.03$0.67$-3.52$-0.47$-1.92$2.08$1.18$-0.32$0.12$0.41$0.83$0.65$0.17$0.20$-0.35
Low Forecast$-0.18$-0.21$0.13$0.11$0.05$-0.18$-0.25$-0.53$-0.06$0.39$-6.04$-0.80$-3.29$1.21$0.69$-0.32$0.12$0.41$0.83$0.65$0.17$0.20$-0.35
Surprise %------------0.03%0.32%-1.78%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 $-3.29 and a high estimate of $-1.92. 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
CLSKCleanSpark$12.36$27.00118.45%Buy
BITFBitfarms$2.07$4.26105.80%Buy
HIVEHIVE Blockchain$3.84$6.5069.27%Buy
BTBTBit Digital$4.22$6.5054.03%Buy
MARAMarathon Digital$24.60$25.754.67%Buy
WULFTeraWulf$8.20$7.90-3.66%Buy
RIOTRiot Blockchain$13.97$9.00-35.58%Buy
HUTHut 8 Mining$29.62$17.63-40.48%Buy

HUT Forecast FAQ

Is Hut 8 Mining a good buy?

Yes, according to 17 Wall Street analysts, Hut 8 Mining (HUT) is considered a 'Buy'. The rating consensus is based on 0 'Strong Buy' and 12 'Buy' recommendations, accounting for 70.59% of HUT's total ratings.

What is HUT's price target?

Hut 8 Mining (HUT) average price target is $17.63 with a range of $8 to $32, implying a -32.53% from its last price of $26.13. The data is based on 17 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 -32.53% (from the last price of $26.13 to the average price target of $17.63), up by 22.46% based on the highest stock price target, and down by -69.38% based on the lowest stock price target.

Can Hut 8 Mining stock reach $40?

HUT's average twelve months analyst stock price target of $17.63 does not support the claim that Hut 8 Mining can reach $40 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 $251.91M (high $312.79M, low $210.32M), average EBITDA is $39.4M (high $48.92M, low $32.89M), average net income is $-11.794M (high $17.84M, low $-42.899M), average SG&A $49.98M (high $62.06M, low $41.73M), and average EPS is $-0.122 (high $0.185, low $-0.445). HUT's analysts financial forecasts for the fiscal year (Dec 2025) are as follows: average revenue is $372.13M (high $470.21M, low $309.79M), average EBITDA is $58.2M (high $73.54M, low $48.45M), average net income is $23.45M (high $38.59M, low $11.24M), average SG&A $73.83M (high $93.29M, low $61.46M), and average EPS is $0.243 (high $0.4, low $0.117).

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 $195.82M by -23.05%. Apple's EBITDA was $3.57M, missing the average prediction of $30.63M by -88.35%. The company's net income was $-243M, missing the average estimation of $103.43M by -334.77%. Apple's SG&A was $42.16M, beating the average forecast of $38.85M by 8.52%. Lastly, the company's EPS was $-1.1, missing the average prediction of $1.09 by -201.26%. 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 $-236M by -92.92%. 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%