331,273 Shares in Hut 8 Corp. (NASDAQ:HUT) Bought by Trexquant Investment LP

Trexquant Investment LP acquired a new position in Hut 8 Corp. (NASDAQ:HUT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 331,273 shares of the company's stock, valued at approximately $6,788,000. Trexquant Investment LP owned about 0.35% of Hut 8 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its position in shares of Hut 8 by 77.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company's stock worth $26,000 after buying an additional 545 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Hut 8 during the fourth quarter valued at approximately $26,000. Principal Securities Inc. bought a new stake in Hut 8 during the fourth quarter worth $45,000. CIBC Private Wealth Group LLC purchased a new position in Hut 8 in the fourth quarter worth $57,000. Finally, KBC Group NV bought a new position in Hut 8 in the 4th quarter valued at $69,000. Institutional investors own 31.75% of the company's stock.

Hut 8 Stock Performance

Shares of NASDAQ:HUT traded up $1.51 during trading on Wednesday, hitting $12.59. 9,656,782 shares of the company were exchanged, compared to its average volume of 5,267,037. Hut 8 Corp. has a 52-week low of $6.95 and a 52-week high of $31.95. The stock has a 50 day moving average of $15.20 and a 200 day moving average of $18.96. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35.

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Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group reiterated a "buy" rating and set a $32.00 target price on shares of Hut 8 in a research note on Tuesday, March 4th. Benchmark lowered their price objective on shares of Hut 8 from $41.00 to $33.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 target price on shares of Hut 8 in a research report on Friday, March 7th. HC Wainwright decreased their price target on shares of Hut 8 from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Finally, UBS Group set a $33.00 price objective on Hut 8 in a research note on Wednesday, April 2nd. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $29.40.

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.