Helix Partners Management LP bought a new position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 194,489 shares of the company's stock, valued at approximately $3,985,000. Hut 8 comprises 0.7% of Helix Partners Management LP's holdings, making the stock its 11th largest holding. Helix Partners Management LP owned approximately 0.21% of Hut 8 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its position in shares of Hut 8 by 77.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company's stock valued at $26,000 after buying an additional 545 shares in the last quarter. R Squared Ltd bought a new stake in shares of Hut 8 in the fourth quarter worth about $26,000. Principal Securities Inc. acquired a new stake in shares of Hut 8 during the fourth quarter worth about $45,000. CIBC Private Wealth Group LLC bought a new position in shares of Hut 8 during the 4th quarter valued at about $57,000. Finally, KBC Group NV acquired a new position in shares of Hut 8 in the 4th quarter valued at approximately $69,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.
Hut 8 Stock Performance
NASDAQ HUT traded up $0.04 during trading hours on Monday, hitting $11.43. 6,031,785 shares of the company traded hands, compared to its average volume of 5,226,472. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. The business's 50-day moving average is $16.08 and its 200-day moving average is $19.05. Hut 8 Corp. has a twelve month low of $6.95 and a twelve month high of $31.95.
Analyst Ratings Changes
Several analysts have commented on HUT shares. Rosenblatt Securities began coverage on shares of Hut 8 in a report on Friday, March 7th. They set a "buy" rating and a $23.00 target price on the stock. Keefe, Bruyette & Woods initiated coverage on shares of Hut 8 in a report on Wednesday, January 8th. They set an "outperform" rating on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 target price on shares of Hut 8 in a research note on Friday, March 7th. 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 target on the stock. Finally, Benchmark reduced their price objective on Hut 8 from $41.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average price target of $29.40.
Get Our Latest Analysis on Hut 8
Hut 8 Company Profile
(
Free Report)
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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