Recent Investment Analysts’ Ratings Changes for Hut 8 (HUT)

Hut 8 (NASDAQ: HUT) has recently received a number of price target changes and ratings updates:

• 11/14/2024 – Hut 8 had its price target raised by analysts at Canaccord Genuity Group Inc. from $22.00 to $32.00. They now have a “buy” rating on the stock.
• 11/14/2024 – Hut 8 had its price target raised by analysts at Craig Hallum from $15.00 to $32.00. They now have a “buy” rating on the stock.
• 11/14/2024 – Hut 8 had its price target raised by analysts at HC Wainwright from $26.00 to $35.00. They now have a “buy” rating on the stock.
• 11/14/2024 – Hut 8 had its price target raised by analysts at Benchmark Co. from $17.00 to $32.00. They now have a “buy” rating on the stock.
• 11/14/2024 – Hut 8 had its price target raised by analysts at Needham & Company LLC from $21.00 to $32.00. They now have a “buy” rating on the stock.
• 10/30/2024 – Hut 8 had its price target raised by analysts at Stifel Nicolaus from $15.00 to $18.00. They now have a “speculative buy” rating on the stock.
• 10/7/2024 – Hut 8 had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $17.00 price target on the stock.
• 10/2/2024 – Hut 8 had its price target raised by analysts at Craig Hallum from $14.00 to $15.00. They now have a “buy” rating on the stock.
• 9/24/2024 – Hut 8 had its price target raised by analysts at Needham & Company LLC from $15.00 to $16.50. They now have a “buy” rating on the stock.
• 9/20/2024 – Hut 8 had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $13.50 price target on the stock.

Hut 8 Stock Performance

Shares of NASDAQ:HUT traded down $0.67 during midday trading on Tuesday, hitting $24.37. 759,495 shares of the stock were exchanged, compared to its average volume of 5,100,820. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. The business’s 50-day moving average price is $14.47 and its 200 day moving average price is $13.00. Hut 8 Corp. has a 12 month low of $6.18 and a 12 month high of $28.47.

Hedge Funds Weigh In On Hut 8

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its stake in Hut 8 by 21.1% in the third quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company’s stock valued at $26,902,000 after buying an additional 381,720 shares during the period. Barclays PLC increased its holdings in shares of Hut 8 by 29.7% during the third quarter. Barclays PLC now owns 124,527 shares of the company’s stock valued at $1,526,000 after acquiring an additional 28,532 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in shares of Hut 8 by 25.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 60,492 shares of the company’s stock valued at $742,000 after acquiring an additional 12,314 shares in the last quarter. XTX Topco Ltd bought a new stake in Hut 8 during the third quarter worth $162,000. Finally, State Street Corp grew its holdings in Hut 8 by 12.6% during the third quarter. State Street Corp now owns 2,740,769 shares of the company’s stock worth $33,602,000 after buying an additional 307,292 shares in the last quarter. 31.75% of the stock is owned by institutional investors and hedge funds.

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.