BTIG Research started coverage on shares of Hut 8 (NASDAQ:HUT - Free Report) in a research report sent to investors on Monday morning, MarketBeat reports. The brokerage issued a buy rating and a $18.00 price objective on the stock.
HUT has been the topic of several other reports. Canaccord Genuity Group reissued a "buy" rating and set a $32.00 target price on shares of Hut 8 in a research note on Tuesday, March 4th. HC Wainwright cut their target price on Hut 8 from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. UBS Group set a $33.00 target price on shares of Hut 8 in a research report on Wednesday, April 2nd. Rosenblatt Securities started coverage on shares of Hut 8 in a research report on Friday, March 7th. They issued a "buy" rating and a $23.00 price target on the stock. Finally, Needham & Company LLC reissued a "buy" rating and issued a $30.00 price objective on shares of Hut 8 in a research note on Tuesday, March 4th. Eleven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $28.36.
Check Out Our Latest Research Report on Hut 8
Hut 8 Price Performance
Shares of HUT traded up $0.11 during trading hours on Monday, hitting $11.19. 4,254,542 shares of the stock were exchanged, compared to its average volume of 5,351,472. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35. Hut 8 has a fifty-two week low of $7.67 and a fifty-two week high of $31.95. The business has a 50-day moving average of $13.88 and a 200-day moving average of $18.87.
Institutional Trading of Hut 8
Several institutional investors and hedge funds have recently modified their holdings of HUT. Tobam bought a new position in shares of Hut 8 in the first quarter worth approximately $273,000. SG Americas Securities LLC boosted its holdings in Hut 8 by 481.9% during the 1st quarter. SG Americas Securities LLC now owns 40,615 shares of the company's stock valued at $472,000 after acquiring an additional 33,635 shares during the period. Neo Ivy Capital Management bought a new position in shares of Hut 8 in the fourth quarter worth approximately $252,000. Two Seas Capital LP increased its position in shares of Hut 8 by 132.7% in the fourth quarter. Two Seas Capital LP now owns 476,808 shares of the company's stock valued at $9,770,000 after acquiring an additional 271,892 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Hut 8 by 25.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 167,469 shares of the company's stock valued at $3,431,000 after acquiring an additional 33,713 shares during the last quarter. Hedge funds and other institutional investors own 31.75% of the company's stock.
About Hut 8
(
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Hut 8 Corp., together with its subsidiaries, acquires, builds, manages, and operates data centers for digital assets mining, computing, and artificial intelligence in the United States. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other.
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