Streetbeat News

HUT

Hut 8 Mining Corp.

Industry

Financial - Capital Markets

Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America. The company engages in industrial scale bitcoin mining operations. It also owns and operates 38 BlockBoxes in Drumheller, Alberta; and 51 BlockBoxes in Medicine Hat, Alberta. Hut 8 Mining Corp. was incorporated in 2011 and is headquartered in Toronto, Canada.

Open

24.26

Mkt cap

2.3B

Volume

7.4M

High

25.74

P/E Ratio

-32.38

52-wk high

28.47

Low

23.45

Div yield

N/A

52-wk low

6.18

Several major stocks, including Bitfarms, TeraWulf, and Applied Digital, are experiencing significant declines in Friday's pre-market session. The declines are largely attributed to a drop in Bitcoin prices and company-specific updates.

Portfolio Pulse from Avi Kapoor

July 05, 2024 | 3:01 pm

Bitcoin miners have reduced their selling volume, potentially leading to a rally in Bitcoin prices. This could positively impact Bitcoin mining stocks such as Marathon Digital Holdings, Riot Platforms, CleanSpark, and Hut 8.

Portfolio Pulse from Khyathi Dalal

July 01, 2024 | 6:57 pm

Hut 8 Corp (NASDAQ:HUT) shares are trading higher after the company announced the closing of a $150 million investment from Coatue Management. Additionally, the rise in Bitcoin's price and Hut 8's inclusion in the Russell 3000 Index are contributing factors.

Portfolio Pulse from Adam Eckert

July 01, 2024 | 12:54 pm

Hut 8 Corp. (Nasdaq, TSX:HUT), a major Bitcoin miner, has closed a $150 million convertible note investment from Coatue Management.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 10:49 am

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.

Portfolio Pulse from Adam Eckert

June 27, 2024 | 1:19 pm

Hut 8 shares are trading higher following the announcement that the stock will join the Russell 3000. Canaccord Genuity also raised its price target on the stock from $14 to $22.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 1:18 pm

Top Wall Street analysts have updated their outlooks on several major stocks, including General Mills, Hut 8, Veeco Instruments, Palo Alto Networks, Micron Technology, Goldman Sachs, Grindr, SolarEdge Technologies, TD SYNNEX, and Paychex. Notable changes include price target adjustments and maintained ratings.

Portfolio Pulse from Avi Kapoor

June 27, 2024 | 1:04 pm

Canaccord Genuity analyst Joseph Vafi maintains a Buy rating on Hut 8 (NASDAQ:HUT) and raises the price target from $14 to $22.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 12:14 pm

Hut 8 Corp. (Nasdaq: HUT), a major Bitcoin miner, will join the Russell 3000 Index at the conclusion of the 2024 Russell U.S. Indexes annual reconstitution, effective July 1, 2024. This inclusion is based on market capitalization rankings as of April 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 10:36 am

Hut 8 Corp. (NASDAQ:HUT) shares are trading higher after announcing a $150 million strategic investment from Coatue Management to build an AI infrastructure platform. The convertible note has a 5-year term, 8% interest rate, and a conversion price of $16.395 per share. Analysts have updated their ratings, with most maintaining a Buy rating and raising price targets. Hut 8 shares have gained over 50% in the past month.

Portfolio Pulse from Erica Kollmann

June 25, 2024 | 5:18 pm

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