Investors Purchase High Volume of Hut 8 Call Options (NASDAQ:HUT)

Hut 8 Corp. (NASDAQ:HUTGet Free Report) was the recipient of unusually large options trading activity on Thursday. Stock investors bought 36,977 call options on the stock. This is an increase of approximately 52% compared to the average daily volume of 24,329 call options.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HUT. Nomura Holdings Inc. bought a new stake in Hut 8 in the 4th quarter valued at about $1,774,000. Barclays PLC lifted its position in Hut 8 by 387.2% in the 4th quarter. Barclays PLC now owns 197,437 shares of the company’s stock valued at $2,633,000 after purchasing an additional 156,911 shares during the last quarter. Voya Investment Management LLC bought a new stake in Hut 8 in the 4th quarter valued at about $246,000. Nuveen Asset Management LLC bought a new stake in Hut 8 in the 4th quarter valued at about $496,000. Finally, Foundations Investment Advisors LLC bought a new stake in Hut 8 in the 4th quarter valued at about $605,000. 31.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HUT has been the subject of several recent research reports. Stifel Nicolaus increased their price objective on shares of Hut 8 from $3.25 to $15.00 and gave the stock a “speculative buy” rating in a research report on Monday, January 8th. HC Wainwright increased their price objective on shares of Hut 8 from $7.00 to $9.00 and gave the stock a “sell” rating in a research report on Thursday. Canaccord Genuity Group reissued a “buy” rating and issued a $3.50 price objective on shares of Hut 8 in a research report on Thursday. Finally, Needham & Company LLC initiated coverage on shares of Hut 8 in a research report on Monday, March 18th. They issued a “buy” rating and a $12.00 price objective for the company.

Get Our Latest Analysis on HUT

Hut 8 Trading Up 12.0 %

Hut 8 stock opened at $11.04 on Friday. The firm’s 50-day moving average is $8.34 and its 200-day moving average is $6.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.61 and a current ratio of 4.61. Hut 8 has a 1 year low of $6.18 and a 1 year high of $22.75. The company has a market cap of $489.58 million, a P/E ratio of -4.01 and a beta of 3.86.

About Hut 8

(Get Free Report)

Hut 8 Corp. provides digital asset mining and high-performance computing infrastructure solutions in Canada. It operates computing infrastructure sites mines Bitcoin, as well as delivers cloud, colocation, and computing services to enterprise customers. The company was founded in 2017 and is based in Miami, Florida.

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