Freedom Capital initiates Hut 8 Mining stock with buy rating
Freedom Capital has begun following Hut 8 Mining Corp. (NASDAQ:HUT) with a Buy rating, indicating significant upside potential. The stock is currently trading at $80.78, with a target price of $132.00 set by the firm. Hut 8 is making the transition from crypto mining to supporting AI workloads, which sets it apart from peers Core Scientific and Applied Digital in their AI collocation subgroup.
The company is considered riskier due to its earlier stage of development. Freedom Capital recommends investors consider placing a tight stop-loss at $87 to limit risk to within 10% of its worst-case scenario valuation of $79. The stock's extreme volatility, with a beta of 6.11, and a WEAK financial health score further support the cautious approach.
While Hut 8’s valuation methodology differs from other sell-side analysts, the company's recent financial results for Q2 2026 showed a larger-than-expected loss despite an increase in revenue, highlighting the company's ongoing transformation into a broader digital infrastructure platform.
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