Charles Schwab Investment Management Inc. Increases Stake in Hut 8 Corp. (NASDAQ:HUT)

Charles Schwab Investment Management Inc. boosted its position in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 31.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 833,165 shares of the company's stock after acquiring an additional 197,074 shares during the period. Charles Schwab Investment Management Inc. owned 0.91% of Hut 8 worth $10,215,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in HUT. Foundations Investment Advisors LLC increased its position in shares of Hut 8 by 2.0% during the second quarter. Foundations Investment Advisors LLC now owns 48,728 shares of the company's stock worth $730,000 after acquiring an additional 949 shares in the last quarter. AM Investment Strategies LLC increased its holdings in Hut 8 by 3.6% during the 3rd quarter. AM Investment Strategies LLC now owns 44,000 shares of the company's stock worth $539,000 after purchasing an additional 1,521 shares in the last quarter. Amalgamated Bank purchased a new stake in shares of Hut 8 in the second quarter worth approximately $42,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Hut 8 by 27.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,223 shares of the company's stock valued at $213,000 after purchasing an additional 3,105 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Hut 8 during the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 31.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HUT. Stifel Nicolaus increased their price target on Hut 8 from $15.00 to $18.00 and gave the company a "speculative buy" rating in a research report on Wednesday, October 30th. Canaccord Genuity Group increased their target price on shares of Hut 8 from $22.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Craig Hallum boosted their price target on shares of Hut 8 from $15.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Needham & Company LLC increased their price objective on shares of Hut 8 from $21.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Finally, HC Wainwright lifted their target price on shares of Hut 8 from $26.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Hut 8 has a consensus rating of "Buy" and a consensus target price of $30.86.

Hut 8 Stock Down 5.8 %

NASDAQ HUT traded down $1.58 during trading hours on Tuesday, reaching $25.62. 4,534,138 shares of the company were exchanged, compared to its average volume of 5,284,089. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. Hut 8 Corp. has a 1 year low of $6.18 and a 1 year high of $31.95. The business's 50 day simple moving average is $19.24 and its 200-day simple moving average is $15.00.

Hut 8 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.