Hut 8 Corp. (NASDAQ:HUT) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its holdings in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 74.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,980 shares of the company's stock after selling 20,249 shares during the period. SG Americas Securities LLC's holdings in Hut 8 were worth $143,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HUT. State Street Corp grew its stake in Hut 8 by 12.6% during the 3rd quarter. State Street Corp now owns 2,740,769 shares of the company's stock worth $33,602,000 after buying an additional 307,292 shares during the last quarter. JAT Capital Mgmt LP purchased a new position in Hut 8 during the 3rd quarter worth approximately $32,260,000. Geode Capital Management LLC grew its stake in Hut 8 by 21.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company's stock worth $26,902,000 after buying an additional 381,720 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Hut 8 by 31.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 833,165 shares of the company's stock worth $10,215,000 after buying an additional 197,074 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Hut 8 during the 3rd quarter worth approximately $9,997,000. Institutional investors and hedge funds own 31.75% of the company's stock.

Hut 8 Price Performance

Shares of HUT remained flat at $20.47 during mid-day trading on Friday. The stock had a trading volume of 2,231,643 shares, compared to its average volume of 5,044,521. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day moving average of $23.82 and a 200-day moving average of $18.23. Hut 8 Corp. has a 1-year low of $6.77 and a 1-year high of $31.95.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Benchmark restated a "buy" rating and set a $41.00 price target on shares of Hut 8 in a research note on Tuesday, January 7th. Stifel Nicolaus lifted their target price on Hut 8 from $15.00 to $18.00 and gave the company a "speculative buy" rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their target price on Hut 8 from $22.00 to $32.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. Needham & Company LLC reiterated a "buy" rating and issued a $38.00 target price on shares of Hut 8 in a research note on Monday, January 13th. Finally, Keefe, Bruyette & Woods initiated coverage on Hut 8 in a research note on Wednesday, January 8th. They issued an "outperform" rating on the stock. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $33.00.

Hut 8 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.