Hut 8 Corp. (NASDAQ:HUT - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $15.11, but opened at $15.94. Hut 8 shares last traded at $15.92, with a volume of 786,004 shares trading hands.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. Canaccord Genuity Group reissued a "buy" rating and issued a $22.00 price objective on shares of Hut 8 in a research report on Wednesday, August 21st. HC Wainwright reaffirmed a "buy" rating and set a $13.50 price target on shares of Hut 8 in a report on Friday, September 20th. Craig Hallum lifted their price target on shares of Hut 8 from $14.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd. Benchmark reissued a "buy" rating and set a $17.00 target price on shares of Hut 8 in a report on Monday, October 7th. Finally, Needham & Company LLC increased their target price on Hut 8 from $15.00 to $16.50 and gave the stock a "buy" rating in a report on Tuesday, September 24th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $16.50.
Get Our Latest Research Report on Hut 8
Hut 8 Stock Performance
The stock's 50 day simple moving average is $11.64 and its two-hundred day simple moving average is $11.68. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.68 and a quick ratio of 1.68.
Hut 8 (NASDAQ:HUT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.11. The firm had revenue of $35.22 million for the quarter, compared to the consensus estimate of $38.00 million. As a group, research analysts anticipate that Hut 8 Corp. will post -0.56 earnings per share for the current fiscal year.
Insider Activity at Hut 8
In other news, Director Joseph Flinn sold 7,618 shares of Hut 8 stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $11.74, for a total value of $89,435.32. Following the completion of the transaction, the director now owns 11,861 shares in the company, valued at $139,248.14. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Hut 8 news, Director Joseph Flinn sold 7,618 shares of the firm's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $11.74, for a total value of $89,435.32. Following the completion of the transaction, the director now owns 11,861 shares in the company, valued at $139,248.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Shenif Visram sold 20,239 shares of the company's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $13.38, for a total transaction of $270,797.82. Following the sale, the chief financial officer now directly owns 43,959 shares in the company, valued at $588,171.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 12.00% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Hut 8
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp boosted its position in shares of Hut 8 by 79.6% during the 1st quarter. Van ECK Associates Corp now owns 1,260,926 shares of the company's stock valued at $13,920,000 after acquiring an additional 558,824 shares during the last quarter. Swiss National Bank increased its holdings in shares of Hut 8 by 61.6% in the 1st quarter. Swiss National Bank now owns 141,940 shares of the company's stock worth $1,567,000 after buying an additional 54,100 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Hut 8 during the 1st quarter valued at $255,000. Vanguard Group Inc. lifted its holdings in shares of Hut 8 by 8,329.2% during the 1st quarter. Vanguard Group Inc. now owns 2,787,102 shares of the company's stock worth $30,770,000 after acquiring an additional 2,754,037 shares during the last quarter. Finally, Vident Advisory LLC grew its position in Hut 8 by 78.3% in the first quarter. Vident Advisory LLC now owns 581,481 shares of the company's stock worth $6,422,000 after acquiring an additional 255,307 shares in the last quarter. 31.75% of the stock is currently 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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