Benchmark restated their buy rating on shares of Hut 8 (NASDAQ:HUT - Free Report) in a report released on Tuesday morning, Benzinga reports. Benchmark currently has a $12.00 target price on the stock.
Other equities research analysts have also issued research reports about the stock. HC Wainwright lifted their target price on shares of Hut 8 from $7.00 to $9.00 and gave the company a sell rating in a research note on Thursday, March 28th. Stifel Nicolaus upped their target price on Hut 8 from $3.25 to $15.00 and gave the stock a speculative buy rating in a research report on Monday, January 8th. Needham & Company LLC reiterated a buy rating and set a $12.00 price target on shares of Hut 8 in a report on Monday, April 1st. Craig Hallum increased their price objective on Hut 8 from $10.00 to $12.00 and gave the stock a hold rating in a report on Monday, April 1st. Finally, Canaccord Genuity Group reduced their target price on shares of Hut 8 from $17.50 to $14.00 and set a buy rating for the company in a research note on Friday, April 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $12.33.
View Our Latest Analysis on Hut 8
Hut 8 Stock Down 7.5 %
Shares of NASDAQ HUT traded down $0.66 during mid-day trading on Tuesday, reaching $8.19. The company had a trading volume of 2,135,180 shares, compared to its average volume of 4,846,893. The stock has a fifty day moving average of $8.55 and a two-hundred day moving average of $7.85. Hut 8 has a 12-month low of $6.18 and a 12-month high of $22.75. The company has a market capitalization of $732.87 million, a price-to-earnings ratio of -2.98 and a beta of 3.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.61 and a current ratio of 4.61.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Golden Green Inc. bought a new stake in Hut 8 during the third quarter valued at about $29,000. Private Advisor Group LLC boosted its stake in Hut 8 by 54.7% during the 3rd quarter. Private Advisor Group LLC now owns 18,095 shares of the company's stock valued at $35,000 after purchasing an additional 6,400 shares during the period. QCM Cayman Ltd. acquired a new stake in Hut 8 in the 3rd quarter valued at approximately $60,000. Global Retirement Partners LLC increased its position in Hut 8 by 280.1% in the 1st quarter. Global Retirement Partners LLC now owns 5,428 shares of the company's stock worth $60,000 after buying an additional 4,000 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Hut 8 during the third quarter worth approximately $73,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.
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.
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