Hut 8 (NASDAQ:HUT – Free Report) had its price target lifted by Craig Hallum from $15.00 to $32.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.
Several other brokerages have also commented on HUT. HC Wainwright upped their target price on Hut 8 from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday. Canaccord Genuity Group restated a “buy” rating and set a $22.00 target price on shares of Hut 8 in a research report on Wednesday, August 21st. Stifel Nicolaus upped their target price 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. Benchmark upped their price target on Hut 8 from $17.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC upped their price target on Hut 8 from $21.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $30.17.
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Hut 8 Stock Performance
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank raised its stake in shares of Hut 8 by 61.6% in the first quarter. Swiss National Bank now owns 141,940 shares of the company’s stock worth $1,567,000 after purchasing an additional 54,100 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Hut 8 by 8,329.2% in the first quarter. Vanguard Group Inc. now owns 2,787,102 shares of the company’s stock worth $30,770,000 after purchasing an additional 2,754,037 shares during the last quarter. Vident Advisory LLC raised its stake in shares of Hut 8 by 78.3% in the first quarter. Vident Advisory LLC now owns 581,481 shares of the company’s stock worth $6,422,000 after purchasing an additional 255,307 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Hut 8 in the first quarter worth approximately $18,191,000. Finally, Westend Capital Management LLC raised its stake in shares of Hut 8 by 1.7% in the second quarter. Westend Capital Management LLC now owns 477,961 shares of the company’s stock worth $7,289,000 after purchasing an additional 7,827 shares during the last quarter. 31.75% of the stock is owned by institutional investors and hedge funds.
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.
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