Hut 8 (NASDAQ:HUT) Coverage Initiated at Keefe, Bruyette & Woods

Stock analysts at Keefe, Bruyette & Woods started coverage on shares of Hut 8 (NASDAQ:HUT) in a research report issued to clients and investors on Wednesday,Briefing.com Automated Import reports. The firm set an “outperform” rating on the stock.

Several other equities analysts also recently commented on the company. Benchmark reiterated a “buy” rating and set a $41.00 price target on shares of Hut 8 in a report on Tuesday. Needham & Company LLC raised their target price on shares of Hut 8 from $32.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. HC Wainwright boosted their target price on shares of Hut 8 from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus raised their price target on Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 price objective on shares of Hut 8 in a research note on Tuesday. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $33.00.

Hut 8 Trading Down 6.8 %

Shares of NASDAQ:HUT opened at $24.85 on Wednesday. The business has a 50-day moving average of $23.82 and a two-hundred day moving average of $17.01. Hut 8 has a fifty-two week low of $6.18 and a fifty-two week high of $31.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35.

Hedge Funds Weigh In On Hut 8

Several large investors have recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new stake in shares of Hut 8 during the 2nd quarter worth approximately $42,000. Capital Performance Advisors LLP bought a new position in Hut 8 in the third quarter worth $40,000. Victory Capital Management Inc. acquired a new stake in Hut 8 during the second quarter worth $154,000. Intech Investment Management LLC bought a new stake in Hut 8 in the 3rd quarter valued at $133,000. Finally, XTX Topco Ltd acquired a new position in shares of Hut 8 in the 3rd quarter valued at $162,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

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.