Hut 8's (HUT) "Overweight" Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Hut 8 (NASDAQ:HUT - Free Report) in a report released on Friday,Benzinga reports. They currently have a $30.00 price objective on the stock.

Several other brokerages have also recently issued reports on HUT. Keefe, Bruyette & Woods began coverage on shares of Hut 8 in a report on Wednesday, January 8th. They issued an "outperform" rating for the company. Rosenblatt Securities assumed coverage on Hut 8 in a research note on Friday. They set a "buy" rating and a $23.00 target price on the stock. Craig Hallum boosted their price target on Hut 8 from $15.00 to $32.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Benchmark reaffirmed a "buy" rating and set a $41.00 price target on shares of Hut 8 in a report on Tuesday, January 7th. Finally, HC Wainwright reduced their price objective on Hut 8 from $35.00 to $30.00 and set a "buy" rating for the company in a report on Tuesday. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $29.89.

Hut 8 Trading Up 0.7 %

Shares of NASDAQ HUT traded up $0.10 during trading on Friday, reaching $13.51. The company had a trading volume of 5,317,118 shares, compared to its average volume of 5,159,298. The business's 50-day moving average is $20.82 and its 200 day moving average is $18.74. 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 12-month low of $6.77 and a 12-month high of $31.95.

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Institutional Investors Weigh In On Hut 8

Hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its position in Hut 8 by 77.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company's stock valued at $26,000 after buying an additional 545 shares during the period. R Squared Ltd purchased a new stake in shares of Hut 8 in the 4th quarter worth $26,000. Optiver Holding B.V. bought a new position in Hut 8 in the 4th quarter worth $35,000. Capital Performance Advisors LLP bought a new position in Hut 8 in the 3rd quarter worth $40,000. Finally, Russell Investments Group Ltd. lifted its position in Hut 8 by 832.4% during the fourth quarter. Russell Investments Group Ltd. now owns 2,042 shares of the company's stock valued at $42,000 after purchasing an additional 1,823 shares in the last quarter. Hedge funds and other institutional investors own 31.75% of the company's stock.

Hut 8 Company Profile

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.