Hut 8 (NASDAQ:HUT) Receives Buy Rating from Benchmark

Hut 8 (NASDAQ:HUT)‘s stock had its “buy” rating reaffirmed by equities researchers at Benchmark in a research report issued on Tuesday,Benzinga reports. They currently have a $41.00 price objective on the stock. Benchmark’s target price indicates a potential upside of 53.73% from the company’s previous close.

HUT has been the topic of a number of other reports. Piper Sandler initiated coverage on shares of Hut 8 in a report on Tuesday, December 17th. They issued an “overweight” rating and a $33.00 target price on the stock. Cantor Fitzgerald started coverage on shares of Hut 8 in a research note on Monday, December 9th. They issued an “overweight” rating and a $35.00 price target on the stock. Craig Hallum raised their target price on shares of Hut 8 from $15.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Canaccord Genuity Group boosted their target price on shares of Hut 8 from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus upped their price objective on Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, Hut 8 presently has an average rating of “Buy” and a consensus price target of $33.00.

Hut 8 Trading Up 10.4 %

HUT opened at $26.67 on Tuesday. Hut 8 has a 52-week low of $6.18 and a 52-week high of $31.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35. The business’s 50-day simple moving average is $23.82 and its 200 day simple moving average is $17.01.

Institutional Trading of Hut 8

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new stake in shares of Hut 8 in the 3rd quarter valued at about $40,000. Amalgamated Bank acquired a new position in shares of Hut 8 in the second quarter worth approximately $42,000. Intech Investment Management LLC bought a new stake in Hut 8 in the third quarter valued at approximately $133,000. Victory Capital Management Inc. acquired a new stake in Hut 8 during the 2nd quarter valued at approximately $154,000. Finally, XTX Topco Ltd bought a new position in Hut 8 during the 3rd quarter worth approximately $162,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Company Profile

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.