Hut 8
About: Hut 8 Corp is engaged in the mining of digital assets with an operational focus on utilizing specialized equipment to solve complex computational problems to validate transactions on the Bitcoin blockchain and receiving Bitcoin in return for successful services. The company has four reportable business segments: Digital Assets Mining, Managed Services, High Performance Computing -Colocation and Cloud, and Other. It derives maximum revenue from Digital Assets Mining segment.
Employees: 219
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
88% more first-time investments, than exits
New positions opened: 47 | Existing positions closed: 25
56% more call options, than puts
Call options by funds: $71M | Put options by funds: $45.4M
19% more repeat investments, than reductions
Existing positions increased: 43 | Existing positions reduced: 36
17% more funds holding
Funds holding: 133 [Q2] → 155 (+22) [Q3]
1.37% more ownership
Funds ownership: 47.34% [Q2] → 48.71% (+1.37%) [Q3]
15% less capital invested
Capital invested by funds: $641M [Q2] → $547M (-$93.9M) [Q3]
Research analyst outlook
11 Wall Street Analysts provided 1 year price targets over the past 3 months
11 analyst ratings
Canaccord Genuity Joseph Vafi 80% 1-year accuracy 71 / 89 met price target | 28%upside $32 | Buy Maintained | 14 Nov 2024 |
HC Wainwright & Co. Mike Colonnese 71% 1-year accuracy 42 / 59 met price target | 40%upside $35 | Buy Maintained | 14 Nov 2024 |
Craig-Hallum George Sutton 79% 1-year accuracy 23 / 29 met price target | 28%upside $32 | Buy Maintained | 14 Nov 2024 |
Benchmark Mark Palmer 86% 1-year accuracy 65 / 76 met price target | 28%upside $32 | Buy Maintained | 14 Nov 2024 |
Needham John Todaro 88% 1-year accuracy 51 / 58 met price target | 28%upside $32 | Buy Maintained | 14 Nov 2024 |
Financial journalist opinion
Based on 12 articles about HUT published over the past 30 days
