Hut 8 Corp. (NASDAQ:HUT - Get Free Report) was down 2.8% during mid-day trading on Thursday . The stock traded as low as $23.30 and last traded at $23.59. Approximately 459,660 shares changed hands during trading, a decline of 92% from the average daily volume of 5,409,310 shares. The stock had previously closed at $24.28.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on HUT shares. Needham & Company LLC raised their target price on shares of Hut 8 from $32.00 to $38.00 and gave the stock a "buy" rating in a report on Tuesday, December 17th. Craig Hallum raised their target price on Hut 8 from $15.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Cantor Fitzgerald started coverage on Hut 8 in a research report on Monday, December 9th. They issued an "overweight" rating and a $35.00 target price on the stock. Canaccord Genuity Group raised their target price on shares of Hut 8 from $22.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, Piper Sandler initiated coverage on shares of Hut 8 in a research note on Tuesday, December 17th. They set an "overweight" rating and a $33.00 price objective on the stock. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Hut 8 has a consensus rating of "Buy" and a consensus price target of $31.88.
Get Our Latest Research Report on HUT
Hut 8 Stock Down 1.6 %
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 firm's fifty day simple moving average is $22.61 and its 200 day simple moving average is $16.34.
Institutional Investors Weigh In On Hut 8
A number of institutional investors have recently bought and sold shares of HUT. Barclays PLC boosted its stake in shares of Hut 8 by 29.7% during the 3rd quarter. Barclays PLC now owns 124,527 shares of the company's stock valued at $1,526,000 after buying an additional 28,532 shares during the period. Geode Capital Management LLC boosted its position in Hut 8 by 21.1% during the third quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company's stock valued at $26,902,000 after purchasing an additional 381,720 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in Hut 8 by 25.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 60,492 shares of the company's stock valued at $742,000 after purchasing an additional 12,314 shares in the last quarter. XTX Topco Ltd acquired a new position in Hut 8 in the 3rd quarter worth about $162,000. Finally, State Street Corp raised its stake in shares of Hut 8 by 12.6% during the 3rd quarter. State Street Corp now owns 2,740,769 shares of the company's stock worth $33,602,000 after purchasing an additional 307,292 shares in the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.
About Hut 8
(
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.
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