According to the New York Times' Marc Stein, "there is a growing belief in league personnel circles" that the Jazz could deal the swingman "with multiple teams expressing interest."
ESPN.com's Zach Lowe confirmed Utah has explored moving Hood before the deadline.
Hood, 25, entered Friday night's game against the New York Knicks averaging a career-high 16.7 points per contest on 40.9 percent shooting from the field and 38.6 percent shooting from three.
He's in the final year of his rookie contact and will be due a $3.5 million qualifying offer this summer. Assuming that offer is tendered, Hood will become a restricted free agent. At that point, the Jazz could match any offer sheet Hood signs and keep him long term or opt to let him walk.
But if Utah wants to avoid the drama and high costs that could accompany Hood's free agency, getting some return now—perhaps in the form of expiring contracts and future draft picks—could be a way for the front office to get a head start on what's sure to be a hectic offseason.