Shares of Hut 8 Corp. (NASDAQ:HUT - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $22.93, but opened at $24.30. Hut 8 shares last traded at $24.14, with a volume of 819,802 shares.
Analyst Ratings Changes
HUT has been the subject of several research analyst reports. Needham & Company LLC reissued a "buy" rating and issued a $38.00 target price on shares of Hut 8 in a research report on Monday. Canaccord Genuity Group upped their price objective on Hut 8 from $22.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Craig Hallum increased their target price on Hut 8 from $15.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Keefe, Bruyette & Woods assumed coverage on Hut 8 in a report on Wednesday, January 8th. They issued an "outperform" rating for the company. Finally, Stifel Nicolaus raised their price objective on Hut 8 from $15.00 to $18.00 and gave the stock a "speculative buy" rating in a research note on Wednesday, October 30th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Hut 8 has a consensus rating of "Buy" and an average price target of $33.00.
View Our Latest Analysis on Hut 8
Hut 8 Trading Up 4.1 %
The company has a 50-day simple moving average of $24.53 and a two-hundred day simple moving average of $17.35. 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 made changes to their positions in the stock. Foundations Investment Advisors LLC grew its holdings in shares of Hut 8 by 2.1% in the 3rd quarter. Foundations Investment Advisors LLC now owns 49,755 shares of the company's stock worth $610,000 after acquiring an additional 1,027 shares during the last quarter. AM Investment Strategies LLC raised its holdings in Hut 8 by 3.6% during the 3rd quarter. AM Investment Strategies LLC now owns 44,000 shares of the company's stock worth $539,000 after buying an additional 1,521 shares during the period. Amalgamated Bank purchased a new stake in Hut 8 during the second quarter valued at about $42,000. Capital Performance Advisors LLP acquired a new position in shares of Hut 8 in the third quarter worth about $40,000. Finally, BNP Paribas Financial Markets increased its position in shares of Hut 8 by 24.6% in the third quarter. BNP Paribas Financial Markets now owns 18,520 shares of the company's stock worth $227,000 after acquiring an additional 3,653 shares in the last quarter. 31.75% of the stock is currently owned by institutional investors.
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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