Roth Capital upgraded shares of Hut 8 (NASDAQ:HUT - Free Report) to a strong-buy rating in a research note released on Thursday morning,Zacks.com reports.
A number of other research firms have also weighed in on HUT. Citizens Jmp raised shares of Hut 8 to a "strong-buy" rating and set a $25.00 target price for the company in a research report on Thursday, May 22nd. JMP Securities initiated coverage on Hut 8 in a research report on Thursday, May 22nd. They set a "market outperform" rating and a $25.00 price objective for the company. B. Riley assumed coverage on Hut 8 in a research note on Wednesday, May 14th. They set a "buy" rating and a $25.00 target price for the company. HC Wainwright reaffirmed a "buy" rating and issued a $25.00 price target on shares of Hut 8 in a research report on Friday, May 9th. Finally, Rosenblatt Securities initiated coverage on Hut 8 in a report on Friday, March 7th. They set a "buy" rating and a $23.00 price target for the company. Fifteen analysts have rated the stock with a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $25.76.
View Our Latest Report on HUT
Hut 8 Stock Down 0.1%
Shares of NASDAQ HUT traded down $0.02 during mid-day trading on Thursday, reaching $18.53. 4,345,523 shares of the company traded hands, compared to its average volume of 5,922,419. The company's fifty day moving average is $14.18 and its two-hundred day moving average is $18.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. Hut 8 has a fifty-two week low of $8.73 and a fifty-two week high of $31.95.
Hut 8 (NASDAQ:HUT - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The business had revenue of $20.88 million during the quarter, compared to the consensus estimate of $33.68 million. Sell-side analysts forecast that Hut 8 will post -0.53 EPS for the current fiscal year.
Insider Activity at Hut 8
In related news, insider Victor Semah sold 11,363 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $12.95, for a total transaction of $147,150.85. Following the transaction, the insider now owns 15,738 shares in the company, valued at $203,807.10. This represents a 41.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.20% of the company's stock.
Hedge Funds Weigh In On Hut 8
Institutional investors have recently modified their holdings of the stock. KBC Group NV acquired a new position in Hut 8 during the 4th quarter worth $69,000. Rhumbline Advisers lifted its stake in shares of Hut 8 by 2.3% during the fourth quarter. Rhumbline Advisers now owns 128,351 shares of the company's stock valued at $2,630,000 after acquiring an additional 2,944 shares during the period. Principal Securities Inc. bought a new position in Hut 8 in the fourth quarter valued at about $45,000. New York State Common Retirement Fund boosted its holdings in Hut 8 by 5.6% in the fourth quarter. New York State Common Retirement Fund now owns 27,140 shares of the company's stock valued at $556,000 after acquiring an additional 1,440 shares during the last quarter. Finally, Global Retirement Partners LLC increased its position in Hut 8 by 80.3% in the fourth quarter. Global Retirement Partners LLC now owns 9,428 shares of the company's stock worth $193,000 after purchasing an additional 4,200 shares during the period. 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.
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