Hut 8 Corp. (NASDAQ:HUT - Get Free Report)'s share price shot up 4.4% during trading on Wednesday . The stock traded as high as $12.55 and last traded at $12.60. 274,444 shares were traded during mid-day trading, a decline of 95% from the average session volume of 5,126,946 shares. The stock had previously closed at $12.07.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on HUT. Benchmark reissued a "buy" rating and issued a $41.00 price target on shares of Hut 8 in a report on Tuesday, January 7th. Needham & Company LLC reissued a "buy" rating and set a $30.00 target price on shares of Hut 8 in a research note on Tuesday, March 4th. Canaccord Genuity Group restated a "buy" rating and issued a $32.00 price target on shares of Hut 8 in a research report on Tuesday, March 4th. HC Wainwright cut their price objective on Hut 8 from $35.00 to $30.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Finally, Keefe, Bruyette & Woods began coverage on Hut 8 in a report on Wednesday, January 8th. They issued an "outperform" rating on the stock. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $29.89.
Read Our Latest Stock Analysis on HUT
Hut 8 Stock Down 0.2 %
The stock has a fifty day moving average price of $18.69 and a 200-day moving average price of $18.91. 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 Investors Weigh In On Hut 8
Several hedge funds have recently bought and sold shares of HUT. JAT Capital Mgmt LP acquired a new stake in shares of Hut 8 during the third quarter worth approximately $32,260,000. Jericho Capital Asset Management L.P. acquired a new position in Hut 8 in the 4th quarter valued at approximately $37,400,000. D. E. Shaw & Co. Inc. purchased a new stake in Hut 8 in the 4th quarter worth approximately $27,115,000. Voloridge Investment Management LLC acquired a new stake in shares of Hut 8 during the 4th quarter valued at $24,170,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Hut 8 during the 4th quarter valued at $23,009,000. 31.75% of the stock is owned by hedge funds and other 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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