Hut 8 Corp. (NASDAQ:HUT - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $25.43, but opened at $26.30. Hut 8 shares last traded at $26.46, with a volume of 1,079,600 shares changing hands.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. HC Wainwright lifted their target price 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. Canaccord Genuity Group lifted their target price on shares of Hut 8 from $22.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $38.00 target price on shares of Hut 8 in a report on Monday, January 13th. Piper Sandler assumed coverage on shares of Hut 8 in a report on Tuesday, December 17th. They set an "overweight" rating and a $33.00 target price for the company. Finally, Benchmark reaffirmed a "buy" rating and set a $41.00 target price on shares of Hut 8 in a report on Tuesday, January 7th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $33.00.
Read Our Latest Report on Hut 8
Hut 8 Stock Performance
The stock's 50 day moving average is $25.30 and its two-hundred day moving average is $17.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00.
Institutional Investors Weigh In On Hut 8
Several large investors have recently modified their holdings of HUT. Nisa Investment Advisors LLC lifted its holdings in shares of Hut 8 by 77.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company's stock worth $26,000 after purchasing an additional 545 shares during the period. R Squared Ltd purchased a new position in Hut 8 in the fourth quarter worth $26,000. Capital Performance Advisors LLP purchased a new position in Hut 8 in the third quarter worth $40,000. Amalgamated Bank purchased a new position in Hut 8 in the second quarter worth $42,000. Finally, KBC Group NV purchased a new position in Hut 8 in the fourth quarter worth $69,000. 31.75% of the stock is owned by institutional investors and hedge funds.
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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