Hut 8 Mining (NASDAQ:HUT) Price Target Cut to $1.60 by Analysts at HC Wainwright

Hut 8 Mining (NASDAQ:HUTGet Rating) had its price target lowered by HC Wainwright from $2.00 to $1.60 in a report published on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also weighed in on HUT. Craig Hallum lowered Hut 8 Mining from a buy rating to a hold rating and reduced their price target for the stock from $5.00 to $2.00 in a research note on Friday, November 11th. Canaccord Genuity Group reissued a buy rating and set a $6.00 price target on shares of Hut 8 Mining in a research note on Wednesday, February 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $3.65.

Hut 8 Mining Trading Up 19.0 %

Shares of Hut 8 Mining stock opened at $1.50 on Friday. Hut 8 Mining has a fifty-two week low of $0.78 and a fifty-two week high of $6.70. The firm has a market cap of $331.35 million, a PE ratio of -1.67 and a beta of 4.33. The business’s fifty day moving average is $1.68 and its two-hundred day moving average is $1.64. The company has a quick ratio of 8.15, a current ratio of 8.15 and a debt-to-equity ratio of 0.09.

Institutional Trading of Hut 8 Mining

Institutional investors and hedge funds have recently made changes to their positions in the company. Engineers Gate Manager LP acquired a new stake in shares of Hut 8 Mining during the fourth quarter valued at about $27,000. Quantbot Technologies LP bought a new position in shares of Hut 8 Mining in the first quarter worth $28,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Hut 8 Mining in the second quarter valued at $28,000. Two Sigma Investments LP acquired a new stake in shares of Hut 8 Mining in the fourth quarter valued at $33,000. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of Hut 8 Mining by 63.5% during the third quarter. Valeo Financial Advisors LLC now owns 19,421 shares of the company’s stock valued at $35,000 after purchasing an additional 7,540 shares during the last quarter. 8.46% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Mining Company Profile

(Get Rating)

Hut 8 Mining Corp. is a cryptocurrency mining and blockchain infrastructure company, which is focused solely on mining bitcoin. It provides investors with direct access to bitcoin, without the technical complexity or constraints of purchasing the underlying cryptocurrency. The company was founded by Andrew Kiguel on June 9, 2011 and is headquartered in Toronto, Canada.

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