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

Cantor Fitzgerald reaffirmed their overweight rating on shares of Hut 8 (NASDAQ:HUT) in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a $30.00 price objective on the stock.

HUT has been the subject of several other research reports. HC Wainwright cut their target price on Hut 8 from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Keefe, Bruyette & Woods assumed coverage on Hut 8 in a research report on Wednesday, January 8th. They issued an “outperform” rating for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $32.00 price objective on shares of Hut 8 in a research report on Tuesday, March 4th. Craig Hallum boosted their price objective on Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Rosenblatt Securities assumed coverage on Hut 8 in a research report on Friday. They issued a “buy” rating and a $23.00 price objective for the company. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $29.89.

Hut 8 Trading Up 0.7 %

Shares of HUT opened at $13.51 on Friday. The stock has a 50 day simple moving average of $20.82 and a two-hundred day simple moving average of $18.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. Hut 8 has a 1 year low of $6.77 and a 1 year high of $31.95.

Hedge Funds Weigh In On Hut 8

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its holdings in shares of Hut 8 by 77.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock valued at $26,000 after acquiring an additional 545 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in Hut 8 by 7.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,475 shares of the company’s stock worth $174,000 after purchasing an additional 618 shares in the last quarter. Arizona State Retirement System raised its holdings in Hut 8 by 2.8% in the fourth quarter. Arizona State Retirement System now owns 23,764 shares of the company’s stock worth $487,000 after purchasing an additional 637 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings in Hut 8 by 1.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 50,687 shares of the company’s stock worth $1,039,000 after purchasing an additional 932 shares in the last quarter. Finally, R Squared Ltd bought a new position in Hut 8 in the fourth quarter worth $26,000. 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.