Hut 8 Corp. (NASDAQ:HUT - Get Free Report)'s stock price traded up 10.9% on Tuesday . The company traded as high as $11.72 and last traded at $11.80. 827,272 shares were traded during mid-day trading, a decline of 85% from the average session volume of 5,347,052 shares. The stock had previously closed at $10.64.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. BTIG Research started coverage on shares of Hut 8 in a research report on Monday, April 14th. They issued a "buy" rating and a $18.00 price target on the stock. Northland Capmk raised Hut 8 to a "strong-buy" rating in a research note on Monday, April 21st. HC Wainwright cut their price target on Hut 8 from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Canaccord Genuity Group reiterated a "buy" rating and issued a $32.00 price objective on shares of Hut 8 in a research report on Tuesday, March 4th. Finally, Benchmark cut their target price on shares of Hut 8 from $41.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $27.67.
Read Our Latest Research Report on HUT
Hut 8 Stock Up 3.9 %
The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. The firm's fifty day moving average is $13.07 and its 200 day moving average is $18.89.
Hedge Funds Weigh In On Hut 8
A number of large investors have recently made changes to their positions in the company. Tobam bought a new stake in Hut 8 during the first quarter worth about $273,000. SG Americas Securities LLC boosted its stake in Hut 8 by 481.9% in the first quarter. SG Americas Securities LLC now owns 40,615 shares of the company's stock valued at $472,000 after buying an additional 33,635 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Hut 8 in the fourth quarter valued at about $252,000. Two Seas Capital LP grew its position in Hut 8 by 132.7% in the fourth quarter. Two Seas Capital LP now owns 476,808 shares of the company's stock valued at $9,770,000 after acquiring an additional 271,892 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Hut 8 by 25.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 167,469 shares of the company's stock worth $3,431,000 after acquiring an additional 33,713 shares in the last quarter. 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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