Vanguard Group Inc. Has $132.35 Million Stock Position in Hut 8 Corp. (NASDAQ:HUT)

Vanguard Group Inc. boosted its stake in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,459,385 shares of the company's stock after purchasing an additional 245,113 shares during the period. Vanguard Group Inc. owned 6.90% of Hut 8 worth $132,352,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp increased its stake in shares of 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 purchasing an additional 307,292 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Hut 8 by 21.1% in the third quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company's stock valued at $26,902,000 after buying an additional 381,720 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Hut 8 by 9.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 891,830 shares of the company's stock valued at $18,242,000 after buying an additional 76,299 shares during the last quarter. Barclays PLC boosted its stake in shares of Hut 8 by 29.7% during the 3rd quarter. Barclays PLC now owns 124,527 shares of the company's stock worth $1,526,000 after acquiring an additional 28,532 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of 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 acquiring an additional 197,074 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HUT shares. UBS Group set a $33.00 price objective on shares of Hut 8 in a research report on Wednesday, April 2nd. Canaccord Genuity Group reiterated a "buy" rating and issued a $32.00 price target on shares of Hut 8 in a research note on Tuesday, March 4th. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price target on shares of Hut 8 in a report on Friday, March 7th. Rosenblatt Securities assumed coverage on Hut 8 in a report on Friday, March 7th. They set a "buy" rating and a $23.00 price objective for the company. Finally, Keefe, Bruyette & Woods started coverage on Hut 8 in a research note on Wednesday, January 8th. They set an "outperform" rating on the stock. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, Hut 8 currently has an average rating of "Buy" and an average price target of $29.40.

Hut 8 Trading Up 3.7 %

Shares of NASDAQ:HUT traded up $0.43 during trading on Friday, reaching $12.16. 5,150,913 shares of the company traded hands, compared to its average volume of 5,292,721. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. Hut 8 Corp. has a 52 week low of $6.95 and a 52 week high of $31.95. The company's 50 day moving average is $14.81 and its two-hundred day moving average is $18.95.

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.