BIT Capital GmbH Boosts Holdings in Hut 8 Corp. (NASDAQ:HUT)

BIT Capital GmbH grew its position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,818,456 shares of the company's stock after purchasing an additional 187,773 shares during the quarter. Hut 8 comprises approximately 3.0% of BIT Capital GmbH's investment portfolio, making the stock its 12th largest position. BIT Capital GmbH owned approximately 1.94% of Hut 8 worth $37,260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HUT. JAT Capital Mgmt LP acquired a new stake in Hut 8 during the third quarter worth approximately $32,260,000. Geode Capital Management LLC boosted its holdings in shares of Hut 8 by 21.1% during 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 in the last quarter. State Street Corp grew its position in shares of Hut 8 by 12.6% during the 3rd quarter. State Street Corp now owns 2,740,769 shares of the company's stock worth $33,602,000 after buying an additional 307,292 shares during the period. Walleye Capital LLC increased its stake in shares of Hut 8 by 179.7% in the 3rd quarter. Walleye Capital LLC now owns 405,780 shares of the company's stock valued at $4,975,000 after acquiring an additional 260,695 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Hut 8 by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 6,459,385 shares of the company's stock valued at $132,352,000 after acquiring an additional 245,113 shares during the period. Institutional investors and hedge funds own 31.75% of the company's stock.

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Hut 8 Stock Performance

NASDAQ:HUT traded down $0.74 during trading hours on Friday, hitting $11.72. 2,880,354 shares of the company traded hands, compared to its average volume of 5,141,519. 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 50-day simple moving average is $17.45 and its 200-day simple moving average is $18.95. Hut 8 Corp. has a one year low of $6.95 and a one year high of $31.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Canaccord Genuity Group restated a "buy" rating and issued a $32.00 price target on shares of Hut 8 in a report on Tuesday, March 4th. Keefe, Bruyette & Woods started coverage on Hut 8 in a research note on Wednesday, January 8th. They issued an "outperform" rating for the company. HC Wainwright cut their price target on Hut 8 from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Piper Sandler started coverage on Hut 8 in a research note on Tuesday, December 17th. They issued an "overweight" rating and a $33.00 price objective for the company. Finally, Rosenblatt Securities assumed coverage on Hut 8 in a research report on Friday, March 7th. They set a "buy" rating and a $23.00 target price on the stock. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Hut 8 presently has a consensus rating of "Buy" and an average target price of $29.89.

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.