Canaccord Genuity Maintains Buy Rating for Hut 8 Mining: Here's What You Need To Know

Canaccord Genuity has decided to maintain its Buy rating of Hut 8 Mining HUT and lower its price target from $6.00 to $5.00.

Shares of Hut 8 Mining are trading up 23.02% over the last 24 hours, at $1.55 per share.

A move to $5.00 would account for a 222.58% increase from the current share price.

About Hut 8 Mining

Hut 8 Mining Corp is North America's innovation-focused digital asset miner. Located in energy-rich Alberta, Canada. Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined bitcoin than any crypto miner or publicly-traded company globally. It is executing on its commitment to mining and holding bitcoin and has a diversified business and revenue strategy to grow and protect shareholder value regardless of bitcoin's market direction.

About Analyst Ratings

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Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.