Hut 8 Corp. (NASDAQ:HUT - Get Free Report) traded up 11.5% during trading on Friday . The stock traded as high as $26.24 and last traded at $26.18. 5,948,705 shares traded hands during mid-day trading, an increase of 15% from the average session volume of 5,173,268 shares. The stock had previously closed at $23.48.
Analysts Set New Price Targets
HUT has been the topic of a number of recent analyst reports. Benchmark lifted their price target on shares of Hut 8 from $17.00 to $32.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Craig Hallum increased their target price on Hut 8 from $15.00 to $32.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Needham & Company LLC upped their price target on shares of Hut 8 from $21.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Stifel Nicolaus increased their price objective on shares of Hut 8 from $15.00 to $18.00 and gave the stock a "speculative buy" rating in a research report on Wednesday, October 30th. Finally, HC Wainwright upped 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average target price of $30.17.
Read Our Latest Analysis on HUT
Hut 8 Trading Up 10.4 %
The business's 50 day moving average is $15.60 and its 200-day moving average is $13.39. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00.
Institutional Investors Weigh In On Hut 8
Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in 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 period. JAT Capital Mgmt LP bought a new stake in Hut 8 in the third quarter valued at approximately $32,260,000. Tidal Investments LLC purchased a new stake in Hut 8 during the 1st quarter valued at $18,191,000. D1 Capital Partners L.P. purchased a new stake in Hut 8 in the 2nd quarter worth approximately $17,388,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Hut 8 in the third quarter worth $9,997,000. 31.75% of the stock is owned by institutional investors.
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Hut 8, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hut 8 wasn't on the list.
While Hut 8 currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are hedge funds and endowments buying in today's market? Enter your email address and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying now.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
