Dendur Capital LP Buys New Stake in Hut 8 Corp. (NASDAQ:HUT)

Dendur Capital LP purchased a new stake in Hut 8 Corp. (NASDAQ:HUT - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 261,700 shares of the company's stock, valued at approximately $5,362,000. Hut 8 makes up about 0.6% of Dendur Capital LP's investment portfolio, making the stock its 16th largest holding. Dendur Capital LP owned approximately 0.28% of Hut 8 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Hut 8 in the fourth quarter worth about $23,009,000. Invesco Ltd. boosted its holdings in Hut 8 by 1,408.8% in the 4th quarter. Invesco Ltd. now owns 936,650 shares of the company's stock worth $19,192,000 after acquiring an additional 874,572 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Hut 8 in the fourth quarter valued at approximately $9,378,000. Geode Capital Management LLC raised its stake in shares of Hut 8 by 21.1% during the third quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company's stock valued at $26,902,000 after purchasing an additional 381,720 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of Hut 8 during the fourth quarter worth $6,788,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

Hut 8 Stock Performance

HUT stock opened at $11.79 on Wednesday. Hut 8 Corp. has a 1-year low of $7.67 and a 1-year high of $31.95. The firm has a fifty day moving average price of $13.51 and a two-hundred day moving average price of $18.91. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HUT shares. HC Wainwright dropped their price target on shares of Hut 8 from $35.00 to $30.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 target price on shares of Hut 8 in a research report on Friday, March 7th. Canaccord Genuity Group reissued a "buy" rating and issued a $32.00 price target on shares of Hut 8 in a report on Tuesday, March 4th. Benchmark dropped their price objective on Hut 8 from $41.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Northland Securities assumed coverage on Hut 8 in a research note on Monday. They set an "outperform" rating and a $20.00 target price for the company. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $27.67.

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.

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