Hut 8 (HUT) Loses 17% as Analyst Issues ‘Sell’ Reco

Group 1 - Hut 8 Corp. experienced a significant decline of 17.22% on Wednesday, closing at $38.84, following a sell recommendation from an analyst [1] - Jim Cramer, a former hedge fund manager, advised investors to "ring the register" and take profits, indicating concerns over the stock's parabolic price movement [2] - Piper Sandler maintained an "overweight" rating for Hut 8 Corp. with a revised price target of $74, representing a 124% increase from the previous target of $33, citing the company's development of 1.5 GW of power across four sites in the US [3] Group 2 - Piper Sandler noted that Hut 8's share price does not yet reflect its exclusive rights to build an additional 1.3 GW, suggesting further upside potential for the stock [3] - The article suggests that while Hut 8 has investment potential, there are AI stocks that may offer higher returns with limited downside risk [4]