Hut 8 Corp. (NASDAQ:HUT – Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $21.60 and last traded at $21.60, with a volume of 325125 shares trading hands. The stock had previously closed at $19.58.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $22.00 target price on shares of Hut 8 in a research report on Wednesday, August 21st. Needham & Company LLC raised their target price on shares of Hut 8 from $15.00 to $16.50 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Benchmark reissued a “buy” rating and set a $17.00 price target on shares of Hut 8 in a research note on Monday, October 7th. HC Wainwright reaffirmed a “buy” rating and issued a $13.50 price objective on shares of Hut 8 in a research note on Friday, September 20th. Finally, Craig Hallum upped their target price on shares of Hut 8 from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Hut 8 currently has a consensus rating of “Buy” and a consensus target price of $17.00.
Check Out Our Latest Research Report on HUT
Hut 8 Trading Down 3.0 %
Hut 8 (NASDAQ:HUT – Get Free Report) last posted its earnings results on Tuesday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.11. The business had revenue of $35.22 million during the quarter, compared to analyst estimates of $38.00 million. As a group, equities analysts anticipate that Hut 8 Corp. will post -0.56 earnings per share for the current fiscal year.
Insider Activity
In other Hut 8 news, Director Joseph Flinn sold 7,618 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $11.74, for a total transaction of $89,435.32. Following the sale, the director now directly owns 11,861 shares in the company, valued at approximately $139,248.14. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 12.00% of the stock is currently owned by company insiders.
Institutional Trading of Hut 8
Several hedge funds and other institutional investors have recently modified their holdings of HUT. Charles Schwab Investment Management Inc. grew its holdings in shares of Hut 8 by 31.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 833,165 shares of the company’s stock worth $10,215,000 after buying an additional 197,074 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Hut 8 during the 3rd quarter worth approximately $133,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Hut 8 in the third quarter valued at approximately $9,997,000. Entropy Technologies LP bought a new stake in shares of Hut 8 in the third quarter worth $170,000. Finally, Capital Performance Advisors LLP bought a new position in Hut 8 in the third quarter valued at $40,000. Institutional investors and hedge funds 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.
See Also
- Five stocks we like better than Hut 8
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Home Depot Stock: Targeting 12% in 2024 and 25% More in 2025
- Profitably Trade Stocks at 52-Week Highs
- Is Tesla’s Valuation a Bubble or Backed by Real Growth?
- There Are Different Types of Stock To Invest In
- Trucking Stocks Led the Pack Last Week: Can They Keep Rolling?
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.