Several analysts have recently updated their ratings and price targets for Hut 8 (NASDAQ: HUT):
- 10/7/2024 – Hut 8 had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $17.00 price target on the stock.
- 10/2/2024 – Hut 8 had its price target raised by analysts at Craig Hallum from $14.00 to $15.00. They now have a “buy” rating on the stock.
- 9/24/2024 – Hut 8 had its price target raised by analysts at Needham & Company LLC from $15.00 to $16.50. They now have a “buy” rating on the stock.
- 9/20/2024 – Hut 8 had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $13.50 price target on the stock.
- 8/23/2024 – Hut 8 had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $15.00 price target on the stock.
- 8/21/2024 – Hut 8 had its “buy” rating reaffirmed by analysts at Canaccord Genuity Group Inc.. They now have a $22.00 price target on the stock.
- 8/14/2024 – Hut 8 had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $17.00 price target on the stock.
- 8/14/2024 – Hut 8 had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $15.00 price target on the stock.
- 8/14/2024 – Hut 8 was upgraded by analysts at HC Wainwright from a “sell” rating to a “buy” rating. They now have a $13.50 price target on the stock, up previously from $7.50.
Hut 8 Stock Down 3.3 %
NASDAQ:HUT opened at $11.34 on Wednesday. Hut 8 Corp. has a one year low of $6.18 and a one year high of $21.10. The company has a fifty day moving average price of $11.44 and a 200 day moving average price of $11.45. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.43.
Hut 8 (NASDAQ:HUT – Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.11. The business had revenue of $35.22 million during the quarter, compared to analyst estimates of $38.00 million. As a group, equities research analysts anticipate that Hut 8 Corp. will post -0.56 EPS for the current year.
Insider Transactions at Hut 8
Institutional Investors Weigh In On Hut 8
A number of hedge funds have recently added to or reduced their stakes in HUT. Foundations Investment Advisors LLC boosted its stake in shares of Hut 8 by 2.0% in the 2nd quarter. Foundations Investment Advisors LLC now owns 48,728 shares of the company’s stock valued at $730,000 after purchasing an additional 949 shares during the last quarter. Amalgamated Bank bought a new position in shares of Hut 8 in the 2nd quarter valued at about $42,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Hut 8 by 27.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,223 shares of the company’s stock valued at $213,000 after purchasing an additional 3,105 shares during the last quarter. Westend Capital Management LLC boosted its stake in shares of Hut 8 by 1.7% in the 2nd quarter. Westend Capital Management LLC now owns 477,961 shares of the company’s stock valued at $7,289,000 after purchasing an additional 7,827 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Hut 8 in the 2nd quarter valued at about $154,000. Institutional investors own 31.75% of the company’s stock.
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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