Massachusetts Financial Services Co. MA Purchases New Holdings in Hut 8 Corp. (NASDAQ:HUT)

Massachusetts Financial Services Co. MA acquired a new stake in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 457,679 shares of the company's stock, valued at approximately $9,378,000. Massachusetts Financial Services Co. MA owned 0.49% of Hut 8 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of HUT. State Street Corp grew its holdings 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 buying an additional 307,292 shares during the period. Vanguard Group Inc. boosted its position in shares of Hut 8 by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 6,459,385 shares of the company's stock worth $132,352,000 after acquiring an additional 245,113 shares during the last quarter. Geode Capital Management LLC grew its holdings in Hut 8 by 21.1% in 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. Connor Clark & Lunn Investment Management Ltd. increased its position in Hut 8 by 9.4% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 891,830 shares of the company's stock worth $18,242,000 after purchasing an additional 76,299 shares during the last quarter. Finally, Barclays PLC increased its position in Hut 8 by 29.7% during the third quarter. Barclays PLC now owns 124,527 shares of the company's stock worth $1,526,000 after purchasing an additional 28,532 shares during the last quarter. Institutional investors and hedge funds own 31.75% of the company's stock.

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Hut 8 Price Performance

NASDAQ HUT traded up $0.43 on Friday, reaching $12.16. The company had a trading volume of 5,150,913 shares, compared to its average volume of 5,292,721. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. Hut 8 Corp. has a 1 year low of $6.95 and a 1 year high of $31.95. The firm has a 50-day moving average of $14.81 and a 200-day moving average of $18.95.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HUT. Needham & Company LLC reissued a "buy" rating and set a $30.00 price objective on shares of Hut 8 in a research note on Tuesday, March 4th. Benchmark reduced their target price on Hut 8 from $41.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods began coverage on Hut 8 in a research note on Wednesday, January 8th. They set an "outperform" rating for the company. UBS Group set a $33.00 price objective on Hut 8 in a research note on Wednesday, April 2nd. Finally, Rosenblatt Securities began coverage on shares of Hut 8 in a research report on Friday, March 7th. They set a "buy" rating and a $23.00 target price for the company. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, Hut 8 presently has an average rating of "Buy" and an average price target of $29.40.

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.