Hut 8 (NASDAQ:HUT) Given New $30.00 Price Target at HC Wainwright

Hut 8 (NASDAQ:HUT) had its price objective cut by HC Wainwright from $35.00 to $30.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently commented on HUT. Canaccord Genuity Group upped their price objective on shares of Hut 8 from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Benchmark reaffirmed a “buy” rating and set a $41.00 price objective on shares of Hut 8 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods initiated coverage on shares of Hut 8 in a research note on Wednesday, January 8th. They set an “outperform” rating for the company. Piper Sandler initiated coverage on shares of Hut 8 in a research report on Tuesday, December 17th. They set an “overweight” rating and a $33.00 target price for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $35.00 target price on shares of Hut 8 in a research report on Tuesday, January 7th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $31.38.

Hut 8 Trading Down 0.4 %

Shares of HUT stock opened at $14.02 on Tuesday. The firm has a 50-day moving average price of $21.40 and a 200 day moving average price of $18.74. Hut 8 has a twelve month low of $6.77 and a twelve month high of $31.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00.

Hedge Funds Weigh In On Hut 8

Institutional investors and hedge funds have recently bought and sold shares of the stock. JAT Capital Mgmt LP purchased a new position in shares of Hut 8 during the 3rd quarter valued at approximately $32,260,000. Jericho Capital Asset Management L.P. acquired a new position in shares of Hut 8 during the fourth quarter valued at $37,400,000. D. E. Shaw & Co. Inc. acquired a new position in shares of Hut 8 during the fourth quarter valued at $27,115,000. Voloridge Investment Management LLC bought a new position in Hut 8 during the fourth quarter valued at about $24,170,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Hut 8 during the fourth quarter valued at about $23,009,000. Hedge funds and other 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.