Sigma Planning Corp bought a new position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 22,000 shares of the company's stock, valued at approximately $451,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. SteelPeak Wealth LLC bought a new stake in shares of Hut 8 in the 3rd quarter valued at $568,000. AM Investment Strategies LLC raised its position in shares of Hut 8 by 3.6% during the third quarter. AM Investment Strategies LLC now owns 44,000 shares of the company's stock worth $539,000 after purchasing an additional 1,521 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Hut 8 during the third quarter worth about $40,000. Entropy Technologies LP bought a new position in shares of Hut 8 during the 3rd quarter valued at about $170,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Hut 8 during the 3rd quarter worth approximately $9,997,000. 31.75% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on HUT. Craig Hallum upped their price target on shares of Hut 8 from $15.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, November 14th. Cantor Fitzgerald reissued an "overweight" rating and issued a $35.00 price target on shares of Hut 8 in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods began coverage on Hut 8 in a research report on Wednesday, January 8th. They set an "outperform" rating for the company. 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 report on Thursday, November 14th. Finally, HC Wainwright upped their price target on Hut 8 from $26.00 to $35.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $33.00.
Get Our Latest Stock Analysis on Hut 8
Hut 8 Stock Performance
HUT stock traded down $0.67 during mid-day trading on Monday, reaching $14.08. The company had a trading volume of 5,659,215 shares, compared to its average volume of 5,145,863. Hut 8 Corp. has a 52 week low of $6.77 and a 52 week high of $31.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. The stock has a 50 day simple moving average of $21.75 and a two-hundred day simple moving average of $18.71.
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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