Shares of Hut 8 Corp. (NASDAQ:HUT - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $21.65, but opened at $22.92. Hut 8 shares last traded at $23.98, with a volume of 1,692,576 shares trading hands.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the company. Piper Sandler assumed coverage on Hut 8 in a research note on Tuesday, December 17th. They set an "overweight" rating and a $33.00 price objective for the company. 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. Stifel Nicolaus boosted their price objective on shares of Hut 8 from $15.00 to $18.00 and gave the company a "speculative buy" rating in a research report on Wednesday, October 30th. Cantor Fitzgerald initiated coverage on shares of Hut 8 in a report on Monday, December 9th. They set an "overweight" rating and a $35.00 target price for the company. Finally, Benchmark boosted their price target on Hut 8 from $17.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $31.88.
Read Our Latest Report on Hut 8
Hut 8 Stock Up 12.1 %
The company's fifty day simple moving average is $22.13 and its 200 day simple moving average is $16.18. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35.
Hedge Funds Weigh In On Hut 8
Several institutional investors and hedge funds have recently added to or reduced their stakes in HUT. JAT Capital Mgmt LP bought a new stake in shares of Hut 8 in the 3rd quarter worth approximately $32,260,000. D1 Capital Partners L.P. bought a new position in shares of Hut 8 in the second quarter worth approximately $17,388,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Hut 8 during the third quarter valued at approximately $9,997,000. Geode Capital Management LLC raised its holdings in Hut 8 by 21.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company's stock worth $26,902,000 after acquiring an additional 381,720 shares during the last quarter. Finally, State Street Corp lifted its position in Hut 8 by 12.6% in the 3rd quarter. State Street Corp now owns 2,740,769 shares of the company's stock valued at $33,602,000 after acquiring an additional 307,292 shares in the last quarter. Hedge funds and other institutional investors own 31.75% of the company's stock.
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.
Further Reading
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
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
