What's Going On With Bitcoin Mining Stock Hut 8 Today?
Portfolio Pulse from Adam Eckert
Hut 8 Corp (NASDAQ:HUT) shares are trading higher due to its upcoming inclusion in the Russell 3000 Index and positive analyst coverage. Multiple analysts have raised their price targets, contributing to the stock's upward movement.
June 27, 2024 | 1:19 pm
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Hut 8 Corp shares are trading higher due to its upcoming inclusion in the Russell 3000 Index and positive analyst coverage. Analysts from Canaccord Genuity, Needham, Benchmark, and Craig-Hallum have all raised their price targets, while HC Wainwright & Co maintained a Sell rating.
The inclusion in the Russell 3000 Index is a significant milestone that will enhance liquidity and visibility for Hut 8. Additionally, the positive analyst ratings and increased price targets from multiple firms are strong indicators of market confidence, likely driving the stock price higher in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100