ExodusPoint Capital Management LP Makes New $1.18 Million Investment in Hut 8 Corp. (NASDAQ:HUT)

ExodusPoint Capital Management LP acquired a new position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 57,582 shares of the company's stock, valued at approximately $1,180,000. ExodusPoint Capital Management LP owned 0.06% of Hut 8 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its holdings in shares of Hut 8 by 77.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company's stock worth $26,000 after acquiring an additional 545 shares during the period. Arizona State Retirement System boosted its position in Hut 8 by 2.8% during the fourth quarter. Arizona State Retirement System now owns 23,764 shares of the company's stock worth $487,000 after purchasing an additional 637 shares in the last quarter. Foundations Investment Advisors LLC grew its holdings in Hut 8 by 1.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 50,687 shares of the company's stock valued at $1,039,000 after purchasing an additional 932 shares during the last quarter. R Squared Ltd purchased a new position in shares of Hut 8 in the fourth quarter valued at $26,000. Finally, New York State Common Retirement Fund increased its position in shares of Hut 8 by 5.6% in the fourth quarter. New York State Common Retirement Fund now owns 27,140 shares of the company's stock valued at $556,000 after buying an additional 1,440 shares in the last quarter. Hedge funds and other institutional investors own 31.75% of the company's stock.

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Hut 8 Stock Performance

Shares of NASDAQ:HUT traded down $0.52 during midday trading on Tuesday, reaching $11.58. The company's stock had a trading volume of 1,774,748 shares, compared to its average volume of 5,292,297. The business has a 50 day moving average price of $14.64 and a 200 day moving average price of $18.99. Hut 8 Corp. has a 1 year low of $6.95 and a 1 year high of $31.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price objective on shares of Hut 8 in a research note on Friday, March 7th. Piper Sandler initiated coverage on shares of Hut 8 in a research report on Tuesday, December 17th. They issued an "overweight" rating and a $33.00 price target on the stock. Keefe, Bruyette & Woods initiated coverage on Hut 8 in a research report on Wednesday, January 8th. They set an "outperform" rating for the company. HC Wainwright reduced their target price on Hut 8 from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $32.00 price target on shares of Hut 8 in a research report on Tuesday, March 4th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $28.36.

About Hut 8

Hut 8 Corp., together with its subsidiaries, acquires, builds, manages, and operates data centers for digital assets mining, computing, and artificial intelligence in the United States. It operates in four segments: Digital Assets Mining, Managed Services, High Performance Computing Colocation and Cloud, and Other.