Hut 8 ( (TSE:HUT) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Hut 8 Corp.’s stock experienced an unusual upward movement due to a significant bullish option flow, with call options trading at 1.8 times the expected volume, which led to an increase in implied volatility. This positive sentiment was further supported by analysts raising the stock’s price targets, with Roth Capital increasing their target from $31 to $60 and BTIG raising it from $25 to $33, reflecting confidence in the company’s growth prospects and market position.
More about Hut 8
YTD Price Performance: 55.32%
Average Trading Volume: 1,615,195
Technical Sentiment Signal: Buy
Current Market Cap: C$5.52B
For further insights into HUT stock on TipRanks’ Stock Analysis page.
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