Arrowstreet Capital Limited Partnership bought 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 filing with the Securities and Exchange Commission. The institutional investor bought 1,123,804 shares of the company's stock, valued at approximately $23,009,000. Arrowstreet Capital Limited Partnership owned 1.20% of Hut 8 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake in Hut 8 by 12.6% in the third quarter. State Street Corp now owns 2,740,769 shares of the company's stock worth $33,602,000 after purchasing an additional 307,292 shares during the period. MetLife Investment Management LLC boosted its holdings in shares of Hut 8 by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 46,719 shares of the company's stock valued at $573,000 after buying an additional 26,324 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Hut 8 by 21.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company's stock worth $26,902,000 after buying an additional 381,720 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Hut 8 by 9.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 891,830 shares of the company's stock worth $18,242,000 after acquiring an additional 76,299 shares in the last quarter. Finally, Barclays PLC lifted its position in Hut 8 by 29.7% during the 3rd quarter. Barclays PLC now owns 124,527 shares of the company's stock valued at $1,526,000 after acquiring an additional 28,532 shares during the period. Institutional investors own 31.75% of the company's stock.
Hut 8 Price Performance
NASDAQ:HUT traded down $0.35 during mid-day trading on Tuesday, reaching $11.08. The company's stock had a trading volume of 5,450,107 shares, compared to its average volume of 5,238,288. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00. The firm's fifty day moving average price is $15.56 and its two-hundred day moving average price is $19.00. Hut 8 Corp. has a 12-month low of $6.95 and a 12-month high of $31.95.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. Piper Sandler started coverage on shares of Hut 8 in a research note on Tuesday, December 17th. They set an "overweight" rating and a $33.00 target price for the company. Benchmark reduced their price objective on Hut 8 from $41.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Needham & Company LLC reissued a "buy" rating and issued a $30.00 target price on shares of Hut 8 in a report on Tuesday, March 4th. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price target on shares of Hut 8 in a report on Friday, March 7th. Finally, Rosenblatt Securities began coverage on shares of Hut 8 in a research note on Friday, March 7th. They issued a "buy" rating and a $23.00 price target on the stock. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $29.40.
Check Out Our Latest Stock Analysis on Hut 8
Hut 8 Company Profile
(
Free Report)
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.
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