Hut 8 (NASDAQ:HUT) Given Overweight Rating at Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Hut 8 (NASDAQ:HUT) in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a $30.00 price objective on the stock.

HUT has been the topic of several other research reports. Piper Sandler began coverage on Hut 8 in a report on Tuesday, December 17th. They set an “overweight” rating and a $33.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of Hut 8 in a report on Tuesday. Keefe, Bruyette & Woods initiated coverage on Hut 8 in a research report on Wednesday, January 8th. They issued an “outperform” rating for the company. Craig Hallum upped their price target on Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, HC Wainwright reduced their price objective on shares of Hut 8 from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $29.89.

Hut 8 Trading Up 0.7 %

HUT stock opened at $13.51 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average of $20.82 and a two-hundred day moving average of $18.69. Hut 8 has a 12 month low of $6.77 and a 12 month high of $31.95.

Institutional Trading of Hut 8

Several hedge funds have recently added to or reduced their stakes in HUT. Nisa Investment Advisors LLC increased its position in shares of Hut 8 by 77.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock valued at $26,000 after purchasing an additional 545 shares during the last quarter. R Squared Ltd acquired a new position in shares of Hut 8 during the fourth quarter worth $26,000. Optiver Holding B.V. purchased a new position in Hut 8 in the fourth quarter valued at $35,000. Capital Performance Advisors LLP acquired a new stake in Hut 8 in the third quarter valued at $40,000. Finally, Russell Investments Group Ltd. lifted its holdings in 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 buying an additional 1,823 shares during the last quarter. Institutional investors and hedge funds own 31.75% of the company’s stock.

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.