Premarket Movers | Hut 8, Robinhood Jump Nearly 4%; Oil Stocks Jump with UCO, BNO up over 1%; SanDisk Falls 1.5%

Robinhood stock jumped 3.7% in premarket trading after it received a Buy rating and a $150.00 price target from Morgan Stanley analyst Michael Cyprys. The company’s shares closed last Monday at $104.81.

According to TipRanks.com, Cyprys is a 3-star analyst with an average return of 2.0% and a 52.7% success rate. Cyprys covers the Financial sector, focusing on stocks such as Virtus Investment Partners, Intercontinental Exchange, and Victory Capital Holdings. Currently, the analyst consensus on Robinhood is a Strong Buy with an average price target of $125.11, a 21.0% upside from current levels. In a report issued on August 21, Bernstein also maintained a Buy rating on the stock with a $160.00 price target.

Hut 8 Mining Corp rose 4% in premarket trading. The move followed a WSJ report on a potential Nvidia–Anthropic deal and a Bitcoin rebound above $80,000, alongside eight straight days of spot ETF inflows totaling about $2.6 billion, as risk appetite improved across AI and crypto infrastructure names and after Morgan Stanley initiated coverage at Overweight citing AI data center opportunities and commentary that AI and crypto assets are benefiting concurrently rather than competing for capital.

SanDisk Corp. fell 1.45%. MSCI decided to include SanDisk in the MSCI World Index after the market close on August 31.

Oil stocks and ETFs jumped in premarket trading. UCO, BNO, USO, Shell, BP up over 1%.