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

Cantor Fitzgerald restated their overweight rating on shares of Hut 8 (NASDAQ:HUT) in a research report released on Tuesday,Benzinga reports. They currently have a $35.00 price objective on the stock.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity Group boosted their target price on shares of Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus upped their price objective on shares of Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a research report on Wednesday, October 30th. Craig Hallum lifted their target price on Hut 8 from $15.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. HC Wainwright boosted their price target on Hut 8 from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Benchmark reiterated a “buy” rating and issued a $41.00 price objective on shares of Hut 8 in a research report on Tuesday. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Hut 8 presently has an average rating of “Buy” and an average target price of $33.00.

Hut 8 Stock Performance

Shares of NASDAQ:HUT opened at $24.85 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. The business has a 50 day moving average price of $23.82 and a 200 day moving average price of $17.01. Hut 8 has a twelve month low of $6.18 and a twelve month high of $31.95.

Institutional Trading of Hut 8

Institutional investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in Hut 8 during the third quarter worth $40,000. Amalgamated Bank acquired a new stake in shares of Hut 8 during the 2nd quarter worth about $42,000. Intech Investment Management LLC bought a new position in Hut 8 during the 3rd quarter valued at about $133,000. Victory Capital Management Inc. acquired a new position in Hut 8 in the second quarter valued at about $154,000. Finally, XTX Topco Ltd bought a new stake in Hut 8 during the third quarter worth about $162,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

About Hut 8

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.