Hut 8 Corp. (NASDAQ:HUT - Get Free Report) shares gapped up before the market opened on Tuesday after Needham & Company LLC raised their price target on the stock from $32.00 to $38.00. The stock had previously closed at $29.06, but opened at $30.27. Needham & Company LLC currently has a buy rating on the stock. Hut 8 shares last traded at $29.89, with a volume of 966,927 shares trading hands.
A number of other equities analysts have also recently issued reports on HUT. HC Wainwright boosted their price objective on Hut 8 from $26.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Benchmark raised their price target on shares of Hut 8 from $17.00 to $32.00 and gave the stock a "buy" rating in a research note 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. Canaccord Genuity Group raised their target price on shares of Hut 8 from $22.00 to $32.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Finally, Craig Hallum boosted their price target on Hut 8 from $15.00 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, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $31.88.
Check Out Our Latest Research Report on Hut 8
Institutional Investors Weigh In On Hut 8
Large investors have recently bought and sold shares of the stock. Barclays PLC boosted its position in Hut 8 by 29.7% during the third quarter. Barclays PLC now owns 124,527 shares of the company's stock worth $1,526,000 after acquiring an additional 28,532 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Hut 8 by 21.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company's stock worth $26,902,000 after purchasing an additional 381,720 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings in shares of Hut 8 by 25.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 60,492 shares of the company's stock worth $742,000 after purchasing an additional 12,314 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Hut 8 in the third quarter valued at $162,000. Finally, State Street Corp increased its stake in Hut 8 by 12.6% in the third quarter. State Street Corp now owns 2,740,769 shares of the company's stock valued at $33,602,000 after purchasing an additional 307,292 shares during the last quarter. Institutional investors and hedge funds own 31.75% of the company's stock.
Hut 8 Trading Up 1.9 %
The company has a 50-day moving average of $20.78 and a two-hundred day moving average of $15.64. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00.
About Hut 8
(
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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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