Hut 8HUT
Market Cap: $820M
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 Q2 SEC filings by fund managers ($100M+ AUM)
213% more capital invested
Capital invested by funds: $197M [Q1] → $615M (+$418M) [Q2]
175% more first-time investments, than exits
New positions opened: 55 | Existing positions closed: 20
64% more repeat investments, than reductions
Existing positions increased: 36 | Existing positions reduced: 22
61% more call options, than puts
Call options by funds: $111M | Put options by funds: $68.6M
36% more funds holding
Funds holding: 98 [Q1] → 133 (+35) [Q2]
25.34% more ownership
Funds ownership: 20.06% [Q1] → 45.41% (+25.34%) [Q2]
Research analyst outlook
11 Wall Street Analysts provided 1 year price targets over the past 3 months
11 analyst ratings
Needham John Todaro 26% 1-year accuracy 11 / 43 met price target | 67%upside $15 | Buy Reiterated | 23 Aug 2024 |
Canaccord Genuity Joseph Vafi 44% 1-year accuracy 34 / 78 met price target | 144%upside $22 | Buy Maintained | 21 Aug 2024 |
Benchmark Mark Palmer 60% 1-year accuracy 38 / 63 met price target | 89%upside $17 | Buy Reiterated | 14 Aug 2024 |
HC Wainwright & Co. Mike Colonnese 16% 1-year accuracy 8 / 50 met price target | 50%upside $13.50 | Buy Upgraded | 14 Aug 2024 |
Needham John Todaro 26% 1-year accuracy 11 / 43 met price target | 67%upside $15 | Buy Reiterated | 14 Aug 2024 |
Financial journalist opinion
Based on 9 articles about HUT published over the past 30 days