Hut 8 Corp. price target raised to $9 from $7 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Hut 8 Corp. to $9 from $7 and keeps a Buy rating on the shares after the company hosted its first earnings call following the completion of its all-stock merger of equals with USBTC. The firm believes Hut 8 remains at risk of losing share in the coming quarters, saying it has one of the oldest and least-efficient mining fleets of the public miners. However, it raised the price target to reflect the recent rally in bitcoin prices.