Shares of Hut 8 Corp. (NASDAQ:HUT - Get Free Report) have earned a consensus rating of "Buy" from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a buy rating. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $31.88.
HUT has been the topic of several recent research reports. HC Wainwright boosted their price objective on shares of Hut 8 from $26.00 to $35.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Benchmark increased their price target on shares of Hut 8 from $17.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Canaccord Genuity Group lifted their price objective on Hut 8 from $22.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Craig Hallum increased their target price on Hut 8 from $15.00 to $32.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, Piper Sandler initiated coverage on Hut 8 in a research note on Tuesday, December 17th. They issued an "overweight" rating and a $33.00 price target on the stock.
View Our Latest Stock Analysis on HUT
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HUT. Capital Performance Advisors LLP acquired a new stake in shares of Hut 8 in the third quarter worth $40,000. Amalgamated Bank purchased a new stake in Hut 8 during the 2nd quarter worth $42,000. Intech Investment Management LLC acquired a new stake in Hut 8 in the 3rd quarter valued at $133,000. Victory Capital Management Inc. purchased a new position in Hut 8 in the second quarter valued at about $154,000. Finally, XTX Topco Ltd acquired a new position in shares of Hut 8 during the third quarter worth about $162,000. Institutional investors and hedge funds own 31.75% of the company's stock.
Hut 8 Price Performance
NASDAQ:HUT traded down $1.57 during trading hours on Friday, reaching $22.32. 4,634,786 shares of the company's stock were exchanged, compared to its average volume of 5,416,645. Hut 8 has a 1-year low of $6.18 and a 1-year high of $31.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $22.99 and a 200 day moving average of $16.52.
Hut 8 Company Profile
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Get Free ReportHut 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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