Hut 8 (NASDAQ:HUT - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Canaccord Genuity Group in a note issued to investors on Tuesday,Benzinga reports. They presently have a $32.00 price target on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 136.86% from the company's previous close.
Other equities analysts have also issued research reports about the company. 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 research note on Tuesday. Craig Hallum increased their price target on shares of Hut 8 from $15.00 to $32.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Needham & Company LLC restated a "buy" rating and set a $30.00 price objective on shares of Hut 8 in a report on Tuesday. Benchmark reiterated a "buy" rating and issued a $41.00 target price on shares of Hut 8 in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of Hut 8 in a report on Wednesday, January 8th. They issued an "outperform" rating for the company. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $29.89.
Check Out Our Latest Analysis on Hut 8
Hut 8 Trading Up 0.7 %
HUT stock traded up $0.10 during midday trading on Tuesday, reaching $13.51. The stock had a trading volume of 5,317,118 shares, compared to its average volume of 5,145,030. Hut 8 has a twelve month low of $6.77 and a twelve month high of $31.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day simple moving average of $21.00 and a two-hundred day simple moving average of $18.68.
Institutional Trading of Hut 8
A number of institutional investors have recently modified their holdings of HUT. JAT Capital Mgmt LP bought a new position in shares of Hut 8 during the third quarter worth about $32,260,000. Jericho Capital Asset Management L.P. bought a new position in Hut 8 in the fourth quarter valued at $37,400,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of Hut 8 in the fourth quarter valued at about $27,115,000. Voloridge Investment Management LLC acquired a new position in Hut 8 during the fourth quarter valued at approximately $24,170,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Hut 8 in the fourth quarter valued at approximately $23,009,000. 31.75% of the stock is currently owned by institutional investors.
Hut 8 Company Profile
(
Get Free Report)
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.
See Also
Before you consider Hut 8, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hut 8 wasn't on the list.
While Hut 8 currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
