Hut 8 Corp. (NASDAQ:HUT - Get Free Report) traded up 10.3% during mid-day trading on Wednesday . The stock traded as high as $26.69 and last traded at $26.32. 2,192,952 shares were traded during mid-day trading, a decline of 55% from the average session volume of 4,823,168 shares. The stock had previously closed at $23.86.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on HUT shares. Cantor Fitzgerald reissued an "overweight" rating and set a $35.00 price target on shares of Hut 8 in a research note on Tuesday, January 7th. Piper Sandler initiated coverage on shares of Hut 8 in a research report on Tuesday, December 17th. They set an "overweight" rating and a $33.00 target price for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $38.00 price objective on shares of Hut 8 in a research note 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 report on Thursday, November 14th. Finally, Craig Hallum raised 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. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Hut 8 currently has an average rating of "Buy" and an average price target of $33.00.
View Our Latest Analysis on HUT
Hut 8 Stock Up 10.1 %
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 firm has a fifty day simple moving average of $24.83 and a 200-day simple moving average of $17.47.
Institutional Trading of Hut 8
Hedge funds have recently bought and sold shares of the stock. JAT Capital Mgmt LP bought a new stake in shares of Hut 8 during the third quarter worth $32,260,000. D1 Capital Partners L.P. acquired a new position in Hut 8 in the 2nd quarter worth $17,388,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Hut 8 during the 3rd quarter worth about $9,997,000. Geode Capital Management LLC raised its stake in shares of Hut 8 by 21.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company's stock valued at $26,902,000 after purchasing an additional 381,720 shares during the period. Finally, State Street Corp lifted its holdings in shares of Hut 8 by 12.6% in the third quarter. State Street Corp now owns 2,740,769 shares of the company's stock valued at $33,602,000 after purchasing an additional 307,292 shares in the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.
Hut 8 Company Profile
(
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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