Hut 8 Corp. (NASDAQ:HUT – Get Free Report) traded up 8.6% during mid-day trading on Monday . The stock traded as high as $16.47 and last traded at $16.28. 2,148,258 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 4,964,560 shares. The stock had previously closed at $14.99.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. Needham & Company LLC lifted their target price on shares of Hut 8 from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Benchmark boosted their price target on shares of Hut 8 from $12.00 to $17.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Canaccord Genuity Group boosted their price target on shares of Hut 8 from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday. HC Wainwright restated a “sell” rating and set a $7.50 price target on shares of Hut 8 in a research report on Tuesday, June 25th. Finally, Craig Hallum boosted their price target on shares of Hut 8 from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.08.
Check Out Our Latest Stock Report on Hut 8
Hut 8 Trading Up 3.8 %
Hut 8 (NASDAQ:HUT – Get Free Report) last issued its earnings results on Wednesday, May 15th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.11). The business had revenue of $51.74 million for the quarter, compared to the consensus estimate of $50.60 million. On average, research analysts anticipate that Hut 8 Corp. will post -0.43 EPS for the current fiscal year.
Insiders Place Their Bets
In other Hut 8 news, CFO Shenif Visram sold 17,905 shares of Hut 8 stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $8.15, for a total transaction of $145,925.75. Following the transaction, the chief financial officer now directly owns 30,865 shares of the company’s stock, valued at $251,549.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.00% of the stock is owned by insiders.
Institutional Investors Weigh In On Hut 8
Institutional investors and hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC increased its stake in Hut 8 by 280.1% during the 1st quarter. Global Retirement Partners LLC now owns 5,428 shares of the company’s stock worth $60,000 after buying an additional 4,000 shares during the period. Triton Wealth Management PLLC increased its stake in Hut 8 by 24.9% during the 1st quarter. Triton Wealth Management PLLC now owns 12,490 shares of the company’s stock worth $138,000 after buying an additional 2,490 shares during the period. Headlands Technologies LLC purchased a new stake in Hut 8 during the 1st quarter worth approximately $255,000. AM Investment Strategies LLC purchased a new stake in Hut 8 during the 4th quarter worth approximately $597,000. Finally, Foundations Investment Advisors LLC purchased a new stake in Hut 8 during the 4th quarter worth approximately $605,000. 31.75% of the stock is owned by hedge funds and other 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.
See Also
- Five stocks we like better than Hut 8
- Stocks with Unusual Volume: How to Find Unusual Volume Stocks in Real Time
- These Top 3 Banks Raise Dividends After Passing Fed Stress Test
- What Are Dividend Champions? How to Invest in the Champions
- Hitch a Ride with Lyft Stock for Double-Digit Gains in 2nd Half
- Russell 2000 Index, How Investors Use it For Profitable Trading
- Eli Lilly Stock Up: GLP-1 Zepbound Targets Sleep Apnea Market
Receive News & Ratings for Hut 8 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hut 8 and related companies with MarketBeat.com's FREE daily email newsletter.