Traders Purchase Large Volume of Hut 8 Call Options (NASDAQ:HUT)

Hut 8 Corp. (NASDAQ:HUT) was the recipient of unusually large options trading on Thursday. Investors bought 16,869 call options on the company. This represents an increase of approximately 37% compared to the typical volume of 12,269 call options.

Analyst Ratings Changes

HUT has been the subject of a number of recent research reports. Needham & Company LLC lifted their target price on Hut 8 from $21.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. HC Wainwright upped their target price on Hut 8 from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Canaccord Genuity Group upped their target price on Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Benchmark boosted their price target on Hut 8 from $17.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus upped their target price on Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a research report on Wednesday, October 30th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $30.17.

Hedge Funds Weigh In On Hut 8

A number of hedge funds have recently bought and sold shares of the business. Foundations Investment Advisors LLC raised its holdings in shares of Hut 8 by 2.0% during the second quarter. Foundations Investment Advisors LLC now owns 48,728 shares of the company’s stock valued at $730,000 after acquiring an additional 949 shares during the last quarter. AM Investment Strategies LLC raised its holdings in shares of Hut 8 by 3.6% during the third quarter. AM Investment Strategies LLC now owns 44,000 shares of the company’s stock valued at $539,000 after acquiring an additional 1,521 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Hut 8 during the second quarter valued at approximately $42,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Hut 8 by 27.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,223 shares of the company’s stock valued at $213,000 after acquiring an additional 3,105 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Hut 8 during the third quarter valued at approximately $40,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Trading Up 9.3 %

Shares of HUT opened at $30.24 on Friday. The stock’s 50-day moving average price is $18.94 and its 200-day moving average price is $14.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. Hut 8 has a 52 week low of $6.18 and a 52 week high of $31.95.

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.