Intech Investment Management LLC Grows Position in Hut 8 Corp. (NASDAQ:HUT)

Intech Investment Management LLC increased its stake in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 239.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 36,816 shares of the company's stock after acquiring an additional 25,963 shares during the quarter. Intech Investment Management LLC's holdings in Hut 8 were worth $754,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its stake in 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 last quarter. R Squared Ltd purchased a new position in shares of Hut 8 in the fourth quarter worth about $26,000. Principal Securities Inc. acquired a new position in Hut 8 during the fourth quarter worth about $45,000. KBC Group NV purchased a new stake in Hut 8 during the 4th quarter valued at about $69,000. Finally, SBI Securities Co. Ltd. purchased a new position in Hut 8 in the 4th quarter worth approximately $128,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Benchmark restated a "buy" rating and issued a $41.00 price target on shares of Hut 8 in a research report on Tuesday, January 7th. Piper Sandler started coverage on shares of Hut 8 in a report on Tuesday, December 17th. They issued an "overweight" rating and a $33.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and issued a $30.00 price target on shares of Hut 8 in a research note on Tuesday, March 4th. HC Wainwright reduced 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 report on Tuesday, March 4th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $32.00 price objective on shares of Hut 8 in a research report on Tuesday, March 4th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat, Hut 8 currently has an average rating of "Buy" and a consensus price target of $29.89.

Remove Ads

Hut 8 Trading Down 3.6 %

Shares of NASDAQ HUT traded down $0.47 during trading on Thursday, reaching $12.46. The stock had a trading volume of 2,451,246 shares, compared to its average volume of 5,122,415. The business's 50-day moving average price is $18.04 and its 200-day moving average price is $18.93. Hut 8 Corp. has a fifty-two week low of $6.95 and a fifty-two week high of $31.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35.

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.