UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.64 Million Position in Hut 8 Corp. (NASDAQ:HUT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 16.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 133,756 shares of the company's stock after selling 26,428 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.15% of Hut 8 worth $1,640,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of HUT. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Hut 8 in the 3rd quarter valued at $9,997,000. MetLife Investment Management LLC increased its position in Hut 8 by 129.1% in the third quarter. MetLife Investment Management LLC now owns 46,719 shares of the company's stock worth $573,000 after purchasing an additional 26,324 shares during the period. D1 Capital Partners L.P. bought a new stake in Hut 8 during the 2nd quarter worth about $17,388,000. Charles Schwab Investment Management Inc. lifted its position 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 valued at $10,215,000 after purchasing an additional 197,074 shares during the period. Finally, Millennium Management LLC boosted its stake in shares of Hut 8 by 46.4% in the 2nd quarter. Millennium Management LLC now owns 649,518 shares of the company's stock valued at $9,733,000 after purchasing an additional 205,836 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HUT shares. Cantor Fitzgerald began coverage on shares of Hut 8 in a research note on Monday, December 9th. They set an "overweight" rating and a $35.00 price target for the company. Needham & Company LLC upped their target price on shares of Hut 8 from $32.00 to $38.00 and gave the company a "buy" rating in a research report on Tuesday. HC Wainwright raised 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. Stifel Nicolaus upped their price objective on Hut 8 from $15.00 to $18.00 and gave the company a "speculative buy" rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group raised their target price on Hut 8 from $22.00 to $32.00 and gave the stock a "buy" rating in a report on Thursday, November 14th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $31.88.

Hut 8 Trading Up 1.9 %

Shares of Hut 8 stock traded up $0.56 during trading hours on Tuesday, hitting $29.62. The company's stock had a trading volume of 8,986,374 shares, compared to its average volume of 5,402,127. 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 moving average of $20.78 and a 200 day moving average of $15.64. Hut 8 Corp. has a 12 month low of $6.18 and a 12 month high of $31.95.

Hut 8 Company 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.