Hut 8 Corp. (NASDAQ:HUT - Get Free Report)'s stock price was down 8.6% during trading on Monday . The stock traded as low as $16.08 and last traded at $16.38. Approximately 1,144,272 shares traded hands during trading, a decline of 76% from the average daily volume of 4,742,615 shares. The stock had previously closed at $17.93.
Analyst Upgrades and Downgrades
A number of analysts have commented on HUT shares. Canaccord Genuity Group increased their price target on shares of Hut 8 from $22.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Benchmark reaffirmed a "buy" rating and issued a $41.00 price objective on shares of Hut 8 in a report on Tuesday, January 7th. Keefe, Bruyette & Woods started coverage on shares of Hut 8 in a report on Wednesday, January 8th. They set an "outperform" rating on the stock. Craig Hallum boosted their price target on Hut 8 from $15.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, Piper Sandler began coverage on shares of Hut 8 in a research report on Tuesday, December 17th. They set an "overweight" rating and a $33.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $33.00.
Check Out Our Latest Report on HUT
Hut 8 Trading Up 2.2 %
The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35. The stock's 50-day moving average price is $22.12 and its 200-day moving average price is $18.61.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. JAT Capital Mgmt LP bought a new stake in Hut 8 in the third quarter worth about $32,260,000. Jericho Capital Asset Management L.P. purchased a new stake in shares of Hut 8 during the 4th quarter worth approximately $37,400,000. D. E. Shaw & Co. Inc. bought a new stake in shares of Hut 8 in the 4th quarter worth approximately $27,115,000. Voloridge Investment Management LLC purchased a new position in Hut 8 in the fourth quarter valued at approximately $24,170,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Hut 8 during the fourth quarter valued at $23,009,000. 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.
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