Keefe, Bruyette & Woods Begins Coverage on Hut 8 (NASDAQ:HUT)

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

Several other brokerages have also issued reports on HUT. Needham & Company LLC upped their price target on Hut 8 from $32.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Piper Sandler began coverage on shares of Hut 8 in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $33.00 target price on the stock. Craig Hallum boosted their price target on shares of Hut 8 from $15.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus raised their price objective on shares of Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a research note on Wednesday, October 30th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 target price on shares of Hut 8 in a research report on Tuesday. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Hut 8 has a consensus rating of “Buy” and a consensus target price of $33.00.

Hut 8 Trading Down 5.4 %

NASDAQ:HUT opened at $23.50 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 firm has a 50-day moving average price of $24.08 and a 200 day moving average price of $17.14. Hut 8 has a 12-month low of $6.18 and a 12-month high of $31.95.

Hedge Funds Weigh In On Hut 8

A number of hedge funds have recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Hut 8 during the third quarter valued at about $40,000. Amalgamated Bank acquired a new position in Hut 8 during the 2nd quarter valued at about $42,000. Intech Investment Management LLC bought a new position in shares of Hut 8 in the third quarter valued at approximately $133,000. Victory Capital Management Inc. bought a new position in shares of Hut 8 in the second quarter valued at approximately $154,000. Finally, XTX Topco Ltd bought a new stake in Hut 8 during the third quarter worth $162,000. Institutional investors 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.