Two Seas Capital LP Purchases 271,892 Shares of Hut 8 Corp. (NASDAQ:HUT)

Two Seas Capital LP boosted its holdings in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 132.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 476,808 shares of the company's stock after purchasing an additional 271,892 shares during the period. Hut 8 makes up approximately 0.8% of Two Seas Capital LP's holdings, making the stock its 16th biggest position. Two Seas Capital LP owned about 0.51% of Hut 8 worth $9,770,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in HUT. R Squared Ltd acquired a new stake in Hut 8 during the 4th quarter valued at $26,000. Nisa Investment Advisors LLC increased its stake in Hut 8 by 77.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company's stock valued at $26,000 after buying an additional 545 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Hut 8 by 832.4% during the fourth quarter. Russell Investments Group Ltd. now owns 2,042 shares of the company's stock worth $42,000 after acquiring an additional 1,823 shares in the last quarter. Principal Securities Inc. acquired a new position in Hut 8 in the 4th quarter worth about $45,000. Finally, Sterling Capital Management LLC lifted its holdings in shares of Hut 8 by 825.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,553 shares of the company's stock valued at $52,000 after buying an additional 2,277 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors.

Hut 8 Stock Down 2.2 %

NASDAQ HUT traded down $0.29 on Monday, hitting $13.11. 4,211,551 shares of the company were exchanged, compared to its average volume of 5,416,947. 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 $7.67 and a 1-year high of $31.95. The firm has a 50 day moving average of $13.07 and a two-hundred day moving average of $19.00.

Wall Street Analysts Forecast Growth

HUT has been the topic of several analyst reports. Northland Securities assumed coverage on shares of Hut 8 in a research report on Monday, April 21st. They set an "outperform" rating and a $20.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 target price on shares of Hut 8 in a research report on Tuesday, March 4th. Northland Capmk raised shares of Hut 8 to a "strong-buy" rating in a report on Monday, April 21st. HC Wainwright decreased their price objective on Hut 8 from $35.00 to $30.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Finally, UBS Group set a $33.00 target price on shares of Hut 8 in a research report on Wednesday, April 2nd. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Hut 8 currently has a consensus rating of "Buy" and an average target price of $27.67.

About Hut 8

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.