Hut 8’s (HUT) “Overweight” Rating Reiterated at Cantor Fitzgerald

Hut 8 (NASDAQ:HUT)‘s stock had its “overweight” rating reissued by research analysts at Cantor Fitzgerald in a report released on Tuesday,Benzinga reports. They presently have a $35.00 target price on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 31.23% from the company’s current price.

Other analysts have also recently issued reports about the company. Piper Sandler started coverage on Hut 8 in a research note on Tuesday, December 17th. They set an “overweight” rating and a $33.00 target price for the company. Stifel Nicolaus raised their price objective on shares of Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective 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. Benchmark reissued a “buy” rating and issued a $41.00 price target on shares of Hut 8 in a research note on Tuesday. Finally, Craig Hallum upped their price objective on Hut 8 from $15.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $33.00.

Hut 8 Stock Up 10.4 %

HUT stock opened at $26.67 on Tuesday. Hut 8 has a 1-year low of $6.18 and a 1-year high of $31.95. The business’s 50-day moving average price is $23.82 and its two-hundred day moving average price is $17.01. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35.

Institutional Trading of Hut 8

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