Hut 8 Corp. (NASDAQ:HUT) Receives $30.17 Consensus Price Target from Analysts

Hut 8 Corp. (NASDAQ:HUT) has received an average recommendation of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $30.17.

A number of research firms recently weighed in on HUT. HC Wainwright increased their price target on Hut 8 from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus increased their price target 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. Craig Hallum increased their price target on Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Benchmark raised their price objective 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, Canaccord Genuity Group raised their price objective on Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th.

Institutional Investors Weigh In On Hut 8

Several institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in shares of Hut 8 in the 3rd quarter valued at approximately $40,000. Amalgamated Bank bought a new position in shares of Hut 8 in the 2nd quarter valued at approximately $42,000. Intech Investment Management LLC bought a new position in shares of Hut 8 in the 3rd quarter valued at approximately $133,000. Victory Capital Management Inc. bought a new position in shares of Hut 8 in the 2nd quarter valued at approximately $154,000. Finally, XTX Topco Ltd bought a new position in shares of Hut 8 in the 3rd quarter valued at approximately $162,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Trading Up 2.4 %

NASDAQ:HUT opened at $27.67 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35. Hut 8 has a 1-year low of $6.18 and a 1-year high of $31.36. The stock has a fifty day simple moving average of $18.59 and a 200 day simple moving average of $14.66.

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.