Hut 8 Corp. (NASDAQ:HUT - Get Free Report)'s share price gapped up prior to trading on Monday . The stock had previously closed at $13.40, but opened at $13.71. Hut 8 shares last traded at $13.40, with a volume of 914,950 shares trading hands.
Analysts Set New Price Targets
A number of research analysts have recently commented on HUT shares. Needham & Company LLC reiterated a "buy" rating and issued a $30.00 price objective on shares of Hut 8 in a report on Tuesday, March 4th. Maxim Group began coverage on shares of Hut 8 in a research note on Thursday. They issued a "buy" rating and a $20.00 price target on the stock. BTIG Research initiated coverage on shares of Hut 8 in a research report on Monday, April 14th. They set a "buy" rating and a $18.00 price objective for the company. UBS Group set a $33.00 price target on shares of Hut 8 in a research note on Wednesday, April 2nd. Finally, Benchmark reduced their price objective on Hut 8 from $41.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $27.08.
Read Our Latest Stock Report on Hut 8
Hut 8 Trading Up 2.1 %
The stock has a 50-day simple moving average of $12.61 and a 200 day simple moving average of $18.94. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35.
Hedge Funds Weigh In On Hut 8
Hedge funds have recently added to or reduced their stakes in the business. Jericho Capital Asset Management L.P. purchased a new position in shares of Hut 8 during the 4th quarter worth approximately $37,400,000. D. E. Shaw & Co. Inc. acquired a new position in shares of Hut 8 in the fourth quarter worth $27,115,000. Voloridge Investment Management LLC purchased a new stake in shares of Hut 8 in the fourth quarter valued at $24,170,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Hut 8 during the fourth quarter valued at $23,009,000. Finally, Invesco Ltd. increased its position in Hut 8 by 1,408.8% during the 4th quarter. Invesco Ltd. now owns 936,650 shares of the company's stock worth $19,192,000 after purchasing an additional 874,572 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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