Rosenblatt Securities Begins Coverage on Hut 8 (NASDAQ:HUT)

Rosenblatt Securities started coverage on shares of Hut 8 (NASDAQ:HUT) in a report issued on Friday, Marketbeat.com reports. The brokerage issued a buy rating and a $23.00 price objective on the stock.

Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods began coverage on shares of Hut 8 in a research report on Wednesday, January 8th. They issued an “outperform” rating for the company. Canaccord Genuity Group reissued a “buy” rating and issued a $32.00 price target on shares of Hut 8 in a research report on Tuesday, March 4th. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price target on shares of Hut 8 in a research report on Tuesday, March 4th. Benchmark reissued a “buy” rating and issued a $41.00 price target on shares of Hut 8 in a research report on Tuesday, January 7th. Finally, Craig Hallum lifted their price target on shares of Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $29.89.

Hut 8 Stock Performance

NASDAQ HUT opened at $13.51 on Friday. The company has a fifty day simple moving average of $20.82 and a 200 day simple moving average of $18.79. Hut 8 has a 12-month low of $6.77 and a 12-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.

Institutional Investors Weigh In On Hut 8

A number of hedge funds have recently made changes to their positions in HUT. Nisa Investment Advisors LLC raised its stake in shares of Hut 8 by 77.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock worth $26,000 after purchasing an additional 545 shares during the period. R Squared Ltd bought a new stake in shares of Hut 8 during the 4th quarter worth $26,000. Optiver Holding B.V. bought a new stake in shares of Hut 8 during the 4th quarter worth $35,000. Capital Performance Advisors LLP bought a new stake in shares of Hut 8 during the 3rd quarter worth $40,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Hut 8 by 832.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,042 shares of the company’s stock worth $42,000 after purchasing an additional 1,823 shares during the period. 31.75% of the stock is currently owned by institutional investors.

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.