Hut 8 (NASDAQ:HUT) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Hut 8 (NASDAQ:HUT) in a research note published on Monday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $35.00 price target on the stock.

A number of other brokerages have also recently issued reports on HUT. Canaccord Genuity Group lifted 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 objective on Hut 8 from $17.00 to $32.00 and gave the stock a “buy” rating in a 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 note on Wednesday, October 30th. Craig Hallum lifted their target price on shares of Hut 8 from $15.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Needham & Company LLC boosted their price target on shares of Hut 8 from $21.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $30.86.

Hut 8 Stock Down 10.1 %

Shares of NASDAQ:HUT opened at $27.20 on Monday. Hut 8 has a 1-year low of $6.18 and a 1-year high of $31.95. The company has a 50 day moving average price of $19.24 and a 200 day moving average price of $15.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00.

Institutional Trading of Hut 8

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

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.