Hut 8’s (HUT) “Buy” Rating Reiterated at Benchmark

Hut 8 (NASDAQ:HUT)‘s stock had its “buy” rating reiterated by analysts at Benchmark in a report released on Tuesday, Benzinga reports. They currently have a $12.00 target price on the stock. Benchmark’s target price would suggest a potential upside of 46.52% from the company’s previous close.

HUT has been the subject of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of Hut 8 in a research report on Monday, April 1st. Craig Hallum upped their price target on Hut 8 from $10.00 to $12.00 and gave the stock a “hold” rating in a report on Monday, April 1st. Canaccord Genuity Group dropped their price objective on Hut 8 from $17.50 to $14.00 and set a “buy” rating on the stock in a report on Friday, April 5th. Stifel Nicolaus boosted their price objective on Hut 8 from $3.25 to $15.00 and gave the company a “speculative buy” rating in a research report on Monday, January 8th. Finally, HC Wainwright increased their price objective on shares of Hut 8 from $7.00 to $9.00 and gave the company a “sell” rating in a report on Thursday, March 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.33.

Hut 8 Price Performance

NASDAQ:HUT opened at $8.19 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.61 and a quick ratio of 4.61. The company has a 50 day moving average price of $8.54 and a 200-day moving average price of $7.85. Hut 8 has a 1-year low of $6.18 and a 1-year high of $22.75. The firm has a market cap of $732.87 million, a price-to-earnings ratio of -2.98 and a beta of 3.98.

Hedge Funds Weigh In On Hut 8

Large investors have recently modified their holdings of the business. Triton Wealth Management PLLC raised its holdings in shares of Hut 8 by 24.9% in the 1st quarter. Triton Wealth Management PLLC now owns 12,490 shares of the company’s stock valued at $138,000 after buying an additional 2,490 shares during the period. Global Retirement Partners LLC grew its stake in shares of Hut 8 by 280.1% in the first quarter. Global Retirement Partners LLC now owns 5,428 shares of the company’s stock worth $60,000 after acquiring an additional 4,000 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Hut 8 by 2.7% in the third quarter. TD Asset Management Inc now owns 203,130 shares of the company’s stock valued at $401,000 after acquiring an additional 5,373 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Hut 8 by 7.3% in the third quarter. Mackenzie Financial Corp now owns 91,752 shares of the company’s stock valued at $168,000 after purchasing an additional 6,225 shares during the period. Finally, Private Advisor Group LLC grew its stake in Hut 8 by 54.7% during the 3rd quarter. Private Advisor Group LLC now owns 18,095 shares of the company’s stock worth $35,000 after purchasing an additional 6,400 shares in the last quarter. 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.