SteelPeak Wealth LLC bought a new stake in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 46,299 shares of the company's stock, valued at approximately $568,000. SteelPeak Wealth LLC owned about 0.05% of Hut 8 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Amalgamated Bank bought a new position in shares of Hut 8 in the 2nd quarter worth approximately $42,000. Victory Capital Management Inc. bought a new position in Hut 8 in the second quarter worth approximately $154,000. Dimensional Fund Advisors LP bought a new position in Hut 8 in the second quarter worth approximately $200,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Hut 8 by 27.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,223 shares of the company's stock worth $213,000 after acquiring an additional 3,105 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Hut 8 during the 1st quarter valued at $255,000. 31.75% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Hut 8 news, Director Joseph Flinn sold 7,618 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $11.74, for a total transaction of $89,435.32. Following the completion of the transaction, the director now owns 11,861 shares in the company, valued at $139,248.14. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 12.00% of the company's stock.
Hut 8 Stock Up 1.5 %
Shares of NASDAQ:HUT traded up $0.23 during trading on Friday, hitting $16.02. 6,518,822 shares of the company's stock were exchanged, compared to its average volume of 4,936,784. The business's 50-day simple moving average is $12.20 and its 200 day simple moving average is $11.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.68 and a current ratio of 1.68. Hut 8 Corp. has a 52-week low of $6.18 and a 52-week high of $21.10.
Hut 8 (NASDAQ:HUT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 13th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.11. The company had revenue of $35.22 million for the quarter, compared to analysts' expectations of $38.00 million. As a group, research analysts anticipate that Hut 8 Corp. will post -0.56 EPS for the current year.
Wall Street Analyst Weigh In
HUT has been the topic of a number of recent research reports. HC Wainwright reaffirmed a "buy" rating and issued a $13.50 target price on shares of Hut 8 in a report on Friday, September 20th. Benchmark reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Hut 8 in a research note on Monday, October 7th. Stifel Nicolaus boosted their price objective on Hut 8 from $15.00 to $18.00 and gave the company a "speculative buy" rating in a research note on Wednesday. Canaccord Genuity Group restated a "buy" rating and set a $22.00 target price on shares of Hut 8 in a research note on Wednesday, August 21st. Finally, Craig Hallum lifted their price target on shares of Hut 8 from $14.00 to $15.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $17.00.
Read Our Latest Stock Report on HUT
About Hut 8
(
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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