Hut 8 Corp. (NASDAQ:HUT - Get Free Report)'s stock price was down 8.7% during mid-day trading on Thursday . The stock traded as low as $13.69 and last traded at $13.62. Approximately 1,965,201 shares were traded during trading, a decline of 62% from the average daily volume of 5,126,664 shares. The stock had previously closed at $14.92.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on HUT shares. Rosenblatt Securities started coverage on Hut 8 in a research note on Friday. They set a "buy" rating and a $23.00 price target for the company. Keefe, Bruyette & Woods started coverage on Hut 8 in a research note on Wednesday, January 8th. They set an "outperform" rating for the company. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 price target on shares of Hut 8 in a research note on Friday. Canaccord Genuity Group reaffirmed a "buy" rating and set a $32.00 price target on shares of Hut 8 in a research note on Tuesday. Finally, Benchmark reaffirmed a "buy" rating and set a $41.00 price target on shares of Hut 8 in a research note on Tuesday, January 7th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $29.89.
Get Our Latest Stock Report on Hut 8
Hut 8 Price Performance
The firm's 50 day moving average is $20.82 and its two-hundred day moving average is $18.74. 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 Trading of Hut 8
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management purchased a new stake in Hut 8 in the 4th quarter valued at about $252,000. Two Seas Capital LP grew its holdings in Hut 8 by 132.7% in the 4th quarter. Two Seas Capital LP now owns 476,808 shares of the company's stock valued at $9,770,000 after buying an additional 271,892 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Hut 8 by 25.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 167,469 shares of the company's stock valued at $3,431,000 after buying an additional 33,713 shares during the period. Voloridge Investment Management LLC purchased a new stake in Hut 8 in the 4th quarter valued at about $24,170,000. Finally, Vennlight Capital Management LP purchased a new stake in Hut 8 in the 4th quarter valued at about $2,414,000. Hedge funds and other institutional investors own 31.75% of the company's stock.
About Hut 8
(
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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.
Further Reading
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