Hut 8 Corp. (NASDAQ:HUT - Get Free Report)'s stock price traded up 7.6% during trading on Friday . The company traded as high as $23.68 and last traded at $23.55. 2,329,632 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 3,008,134 shares. The stock had previously closed at $21.89.
Analyst Ratings Changes
Several brokerages have recently weighed in on HUT. HC Wainwright increased their target price on shares of Hut 8 from $26.00 to $35.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Craig Hallum increased their price objective on Hut 8 from $15.00 to $32.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Benchmark boosted their target price on Hut 8 from $17.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Canaccord Genuity Group increased their price target on Hut 8 from $22.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Finally, Stifel Nicolaus lifted their price objective on shares of Hut 8 from $15.00 to $18.00 and gave the company a "speculative buy" rating in a research report on Wednesday, October 30th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Hut 8 currently has a consensus rating of "Buy" and an average target price of $31.88.
Check Out Our Latest Analysis on HUT
Hut 8 Stock Up 10.4 %
The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. The stock's fifty day moving average price is $23.63 and its 200-day moving average price is $16.84.
Institutional Investors Weigh In On Hut 8
A number of institutional investors and hedge funds have recently modified their holdings of HUT. Bank of New York Mellon Corp purchased a new stake in shares of Hut 8 in the 2nd quarter worth about $4,390,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Hut 8 by 27.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,223 shares of the company's stock valued at $213,000 after purchasing an additional 3,105 shares in the last quarter. Rhumbline Advisers grew its position in shares of Hut 8 by 684,077.8% in the second quarter. Rhumbline Advisers now owns 123,152 shares of the company's stock valued at $1,846,000 after purchasing an additional 123,134 shares during the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Hut 8 by 2.0% during the 2nd quarter. Foundations Investment Advisors LLC now owns 48,728 shares of the company's stock worth $730,000 after purchasing an additional 949 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Hut 8 during the 2nd quarter worth approximately $154,000. Institutional investors and hedge funds 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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