Hut 8 (NASDAQ:HUT) Now Covered by Analysts at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods assumed coverage on shares of Hut 8 (NASDAQ:HUT) in a research report sent to investors on Wednesday, MarketBeat.com reports. The brokerage issued an outperform rating on the stock.

Several other equities analysts also recently issued reports on HUT. Needham & Company LLC lifted their price objective on Hut 8 from $32.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Piper Sandler initiated coverage on Hut 8 in a report on Tuesday, December 17th. They set an “overweight” rating and a $33.00 price objective on the stock. Canaccord Genuity Group increased their price objective on Hut 8 from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Craig Hallum boosted their target price on Hut 8 from $15.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Stifel Nicolaus raised their price target on Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a report on Wednesday, October 30th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, Hut 8 presently has a consensus rating of “Buy” and a consensus target price of $33.00.

Hut 8 Price Performance

Shares of NASDAQ HUT opened at $23.40 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day moving average of $24.38 and a two-hundred day moving average of $17.26. Hut 8 has a 52-week low of $6.18 and a 52-week high of $31.95.

Institutional Trading of Hut 8

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Hut 8 in the third quarter valued at about $9,997,000. Paloma Partners Management Co bought a new position in shares of Hut 8 during the 3rd quarter valued at about $834,000. State Street Corp grew its position 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 purchasing an additional 307,292 shares during the period. MetLife Investment Management LLC increased its stake in Hut 8 by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 46,719 shares of the company’s stock worth $573,000 after purchasing an additional 26,324 shares in the last quarter. Finally, D1 Capital Partners L.P. acquired a new stake in Hut 8 during the 2nd quarter worth approximately $17,388,000. 31.75% of the stock is owned by institutional investors.

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.