Central Asset Investments & Management Holdings HK Ltd Buys Shares of 23,000 Hut 8 Corp. (NASDAQ:HUT)

Central Asset Investments & Management Holdings HK Ltd acquired a new position in Hut 8 Corp. (NASDAQ:HUT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 23,000 shares of the company's stock, valued at approximately $471,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in Hut 8 by 2.7% during the 4th quarter. Bank of New York Mellon Corp now owns 245,240 shares of the company's stock valued at $5,025,000 after acquiring an additional 6,400 shares in the last quarter. Sigma Planning Corp acquired a new stake in shares of Hut 8 during the fourth quarter worth approximately $451,000. Global Retirement Partners LLC grew its position in Hut 8 by 80.3% during the fourth quarter. Global Retirement Partners LLC now owns 9,428 shares of the company's stock valued at $193,000 after purchasing an additional 4,200 shares in the last quarter. New York State Common Retirement Fund increased its stake in Hut 8 by 5.6% in the 4th 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 during the period. Finally, Principal Securities Inc. purchased a new stake in Hut 8 in the 4th quarter worth approximately $45,000. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Hut 8 Trading Up 2.4 %

Hut 8 stock traded up $0.34 during trading hours on Friday, reaching $14.75. 6,642,818 shares of the company were exchanged, compared to its average volume of 5,022,285. Hut 8 Corp. has a 12 month low of $6.77 and a 12 month high of $31.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average of $21.75 and a 200 day moving average of $18.66.

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Wall Street Analysts Forecast Growth

HUT has been the topic of several research analyst reports. HC Wainwright boosted their price target on shares of Hut 8 from $26.00 to $35.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Keefe, Bruyette & Woods assumed coverage on Hut 8 in a research note on Wednesday, January 8th. They issued an "outperform" rating on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $35.00 price target on shares of Hut 8 in a research note on Tuesday, January 7th. Canaccord Genuity Group boosted their price target on Hut 8 from $22.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, Benchmark reaffirmed a "buy" rating and set a $41.00 price objective on shares of Hut 8 in a research report on Tuesday, January 7th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $33.00.

Hut 8 Company Profile

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.