Hut 8 Corp. (NASDAQ:HUT - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $13.51, but opened at $12.73. Hut 8 shares last traded at $12.23, with a volume of 831,080 shares changing hands.
Wall Street Analysts Forecast Growth
HUT has been the subject of a number of recent research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 price objective on shares of Hut 8 in a report on Friday. Canaccord Genuity Group reissued a "buy" rating and issued a $32.00 target price on shares of Hut 8 in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods initiated coverage on Hut 8 in a report on Wednesday, January 8th. They set an "outperform" rating on the stock. Craig Hallum increased their price objective on Hut 8 from $15.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Finally, Rosenblatt Securities began coverage on Hut 8 in a research note on Friday. They set a "buy" rating and a $23.00 target price on the stock. Ten analysts have rated the stock with a buy rating, According to MarketBeat.com, Hut 8 has an average rating of "Buy" and a consensus price target of $29.89.
View Our Latest Research Report on Hut 8
Hut 8 Stock Performance
The company has a 50 day moving average of $20.45 and a two-hundred day moving average of $18.78. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35.
Institutional Trading of Hut 8
Hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its position in Hut 8 by 77.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company's stock valued at $26,000 after acquiring an additional 545 shares during the period. R Squared Ltd bought a new position in shares of Hut 8 during the fourth quarter valued at approximately $26,000. Optiver Holding B.V. purchased a new position in shares of Hut 8 during the fourth quarter valued at approximately $35,000. Capital Performance Advisors LLP purchased a new position in shares of Hut 8 during the third quarter valued at approximately $40,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Hut 8 by 832.4% in the 4th quarter. Russell Investments Group Ltd. now owns 2,042 shares of the company's stock worth $42,000 after purchasing an additional 1,823 shares in the last quarter. 31.75% of the stock is owned by hedge funds and other 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.
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