Hut 8 (NASDAQ:HUT) Now Covered by Analysts at Piper Sandler

Investment analysts at Piper Sandler started coverage on shares of Hut 8 (NASDAQ:HUT) in a research note issued on Tuesday,Benzinga reports. The brokerage set an “overweight” rating and a $33.00 price target on the stock. Piper Sandler’s price objective indicates a potential upside of 13.56% from the stock’s previous close.

HUT has been the subject of several other reports. Craig Hallum lifted their price objective on Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Canaccord Genuity Group boosted their price target on shares of Hut 8 from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Benchmark increased their price objective on shares of Hut 8 from $17.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. HC Wainwright boosted their price objective on shares of Hut 8 from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Needham & Company LLC increased their target price on Hut 8 from $21.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $31.88.

Hut 8 Stock Up 6.3 %

HUT opened at $29.06 on Tuesday. 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 stock’s fifty day moving average is $20.43 and its two-hundred day moving average is $15.49. Hut 8 has a 52 week low of $6.18 and a 52 week high of $31.95.

Institutional Trading of Hut 8

Institutional investors have recently made changes to their positions in the business. Foundations Investment Advisors LLC boosted its stake in Hut 8 by 2.0% in the 2nd quarter. Foundations Investment Advisors LLC now owns 48,728 shares of the company’s stock worth $730,000 after purchasing an additional 949 shares in the last quarter. AM Investment Strategies LLC lifted its stake in shares of Hut 8 by 3.6% during the third quarter. AM Investment Strategies LLC now owns 44,000 shares of the company’s stock worth $539,000 after buying an additional 1,521 shares during the period. Amalgamated Bank purchased a new stake in shares of Hut 8 during the second quarter valued at $42,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Hut 8 by 27.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,223 shares of the company’s stock valued at $213,000 after acquiring an additional 3,105 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in Hut 8 in the 3rd quarter worth $40,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

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.