Hut 8 Corp. (NASDAQ:HUT) Given Consensus Rating of “Buy” by Analysts

Hut 8 Corp. (NASDAQ:HUT) has been given a consensus rating of “Buy” by the nine ratings firms that are presently covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $33.00.

A number of analysts have issued reports on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Hut 8 in a report on Wednesday, January 8th. They issued an “outperform” rating on the stock. Craig Hallum lifted their price target on shares of Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Benchmark reiterated a “buy” rating and issued a $41.00 price target on shares of Hut 8 in a report on Tuesday, January 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $35.00 price target on shares of Hut 8 in a report on Tuesday, January 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 price target on shares of Hut 8 in a report on Monday, January 13th.

Hut 8 Trading Down 8.2 %

HUT opened at $17.93 on Friday. 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 $6.77 and a fifty-two week high of $31.95. The firm’s fifty day moving average is $22.89 and its 200 day moving average is $18.53.

Institutional Trading of Hut 8

A number of large investors have recently made changes to their positions in HUT. Nisa Investment Advisors LLC increased its holdings in shares of Hut 8 by 77.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock worth $26,000 after buying an additional 545 shares during the last quarter. R Squared Ltd bought a new position in Hut 8 during the 4th quarter valued at about $26,000. Optiver Holding B.V. bought a new position in Hut 8 during the 4th quarter valued at about $35,000. Capital Performance Advisors LLP bought a new position in Hut 8 during the 3rd quarter valued at about $40,000. Finally, Russell Investments Group Ltd. grew its holdings in Hut 8 by 832.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,042 shares of the company’s stock valued at $42,000 after purchasing an additional 1,823 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors.

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.