Hut 8 Corp. (NASDAQ:HUT) Position Increased by Invesco Ltd.

Invesco Ltd. grew its stake in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 1,408.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 936,650 shares of the company's stock after acquiring an additional 874,572 shares during the period. Invesco Ltd. owned about 1.00% of Hut 8 worth $19,192,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Nisa Investment Advisors LLC boosted 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 purchasing an additional 545 shares during the period. R Squared Ltd purchased a new stake in Hut 8 during the fourth quarter valued at about $26,000. Russell Investments Group Ltd. boosted its holdings in shares of Hut 8 by 832.4% in the fourth quarter. Russell Investments Group Ltd. now owns 2,042 shares of the company's stock worth $42,000 after buying an additional 1,823 shares during the period. Principal Securities Inc. purchased a new position in shares of Hut 8 in the fourth quarter worth approximately $45,000. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of Hut 8 during the fourth quarter valued at approximately $57,000. 31.75% of the stock is owned by institutional investors.

Hut 8 Price Performance

Shares of NASDAQ:HUT opened at $11.19 on Friday. 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 $13.88 and a 200 day moving average price of $18.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35.

Analysts Set New Price Targets

Several equities analysts have weighed in on HUT shares. Keefe, Bruyette & Woods initiated coverage on shares of Hut 8 in a research report on Wednesday, January 8th. They set an "outperform" rating on the stock. Benchmark dropped their price target on Hut 8 from $41.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Needham & Company LLC restated a "buy" rating and set a $30.00 price objective on shares of Hut 8 in a research report on Tuesday, March 4th. HC Wainwright dropped their target price on Hut 8 from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Finally, Rosenblatt Securities initiated coverage on shares of Hut 8 in a report on Friday, March 7th. They set a "buy" rating and a $23.00 price target for the company. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Hut 8 has an average rating of "Buy" and an average price target of $28.36.

About Hut 8

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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