GoalVest Advisory LLC Makes New $330,000 Investment in Hut 8 Corp. (NASDAQ:HUT)

GoalVest Advisory LLC purchased a new position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 16,100 shares of the company's stock, valued at approximately $330,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JAT Capital Mgmt LP acquired a new position in Hut 8 during the third quarter worth approximately $32,260,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Hut 8 during the 3rd quarter worth approximately $9,997,000. Geode Capital Management LLC increased 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 acquiring an additional 381,720 shares during the last quarter. State Street Corp raised its stake in Hut 8 by 12.6% in the 3rd quarter. State Street Corp now owns 2,740,769 shares of the company's stock valued at $33,602,000 after acquiring an additional 307,292 shares during the period. Finally, Walleye Capital LLC lifted its holdings in Hut 8 by 179.7% during the 3rd quarter. Walleye Capital LLC now owns 405,780 shares of the company's stock valued at $4,975,000 after purchasing an additional 260,695 shares during the last quarter. Institutional investors own 31.75% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on HUT shares. Needham & Company LLC reiterated a "buy" rating and issued a $38.00 price objective on shares of Hut 8 in a report on Monday, January 13th. Keefe, Bruyette & Woods assumed coverage on shares of Hut 8 in a research note on Wednesday, January 8th. They issued an "outperform" rating on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $35.00 price objective on shares of Hut 8 in a research report on Tuesday, January 7th. HC Wainwright upped their target price on Hut 8 from $26.00 to $35.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. Finally, Piper Sandler initiated coverage on Hut 8 in a report on Tuesday, December 17th. They set an "overweight" rating and a $33.00 target price for the company. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $33.00.

Hut 8 Stock Down 1.7 %

Shares of Hut 8 stock traded down $0.43 on Thursday, hitting $25.43. The stock had a trading volume of 5,354,363 shares, compared to its average volume of 5,682,205. The stock has a 50 day moving average of $25.24 and a 200 day moving average of $17.84. 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 twelve month low of $6.23 and a twelve month high of $31.95.

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.