Hut 8 Corp. (NASDAQ:HUT - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $21.51, but opened at $22.54. Hut 8 shares last traded at $21.66, with a volume of 791,979 shares traded.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on HUT. Benchmark increased 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. Cantor Fitzgerald assumed coverage on shares of Hut 8 in a research report on Monday, December 9th. They issued an "overweight" rating and a $35.00 price objective for the company. Needham & Company LLC increased their price objective on Hut 8 from $32.00 to $38.00 and gave the stock a "buy" rating in a research report on Tuesday, December 17th. Piper Sandler initiated coverage on shares of Hut 8 in a research report on Tuesday, December 17th. They set an "overweight" rating and a $33.00 target price on the stock. Finally, HC Wainwright increased their price target on shares of Hut 8 from $26.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $31.88.
View Our Latest Stock Analysis on HUT
Hut 8 Stock Performance
The company's 50-day moving average is $23.11 and its 200-day moving average is $16.63. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00.
Institutional Trading of Hut 8
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP acquired a new stake in Hut 8 in the 3rd quarter valued at $40,000. Amalgamated Bank acquired a new stake in shares of Hut 8 in the second quarter valued at about $42,000. Intech Investment Management LLC acquired a new stake in shares of Hut 8 in the third quarter valued at about $133,000. Victory Capital Management Inc. purchased a new stake in shares of Hut 8 during the 2nd quarter valued at about $154,000. Finally, XTX Topco Ltd acquired a new position in Hut 8 during the 3rd quarter worth approximately $162,000. Institutional investors and hedge funds 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.
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