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

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

HUT has been the subject of a number of other reports. Benchmark reiterated a “buy” rating and issued a $41.00 price target on shares of Hut 8 in a research note on Tuesday. HC Wainwright raised their price target on shares of Hut 8 from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC boosted their price objective on shares of Hut 8 from $32.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Stifel Nicolaus raised their target price on Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their price target on Hut 8 from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $33.00.

Hut 8 Price Performance

HUT opened at $23.50 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 company’s 50 day moving average is $24.08 and its 200-day moving average is $17.14. Hut 8 has a 1-year low of $6.18 and a 1-year high of $31.95.

Institutional Trading of Hut 8

A number of large investors have recently bought and sold shares of HUT. Barclays PLC lifted its stake in shares of Hut 8 by 29.7% in the 3rd quarter. Barclays PLC now owns 124,527 shares of the company’s stock valued at $1,526,000 after purchasing an additional 28,532 shares during the period. Geode Capital Management LLC increased its holdings in Hut 8 by 21.1% in the third quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company’s stock worth $26,902,000 after purchasing an additional 381,720 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Hut 8 by 25.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 60,492 shares of the company’s stock valued at $742,000 after buying an additional 12,314 shares during the period. XTX Topco Ltd bought a new position in shares of Hut 8 during the 3rd quarter worth approximately $162,000. Finally, State Street Corp increased its stake in shares of Hut 8 by 12.6% in the 3rd quarter. State Street Corp now owns 2,740,769 shares of the company’s stock valued at $33,602,000 after acquiring an additional 307,292 shares in the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

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.