Dendur Capital LP Acquires New Position in Hut 8 Corp. (NASDAQ:HUT)

Dendur Capital LP purchased a new position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 261,700 shares of the company's stock, valued at approximately $5,362,000. Hut 8 comprises about 0.6% of Dendur Capital LP's holdings, making the stock its 16th largest holding. Dendur Capital LP owned approximately 0.28% of Hut 8 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership acquired a new position in Hut 8 in the 4th quarter valued at $23,009,000. Invesco Ltd. increased its holdings in shares of Hut 8 by 1,408.8% in the fourth quarter. Invesco Ltd. now owns 936,650 shares of the company's stock valued at $19,192,000 after buying an additional 874,572 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Hut 8 in the fourth quarter worth $9,378,000. Geode Capital Management LLC increased its stake 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 worth $26,902,000 after purchasing an additional 381,720 shares during the period. Finally, Trexquant Investment LP bought a new stake in shares of Hut 8 in the 4th quarter worth approximately $6,788,000. 31.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HUT. UBS Group set a $33.00 target price on Hut 8 in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods initiated coverage on Hut 8 in a research note on Wednesday, January 8th. They set an "outperform" rating on the stock. Benchmark dropped their price objective on Hut 8 from $41.00 to $33.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Needham & Company LLC restated a "buy" rating and set a $30.00 price target on shares of Hut 8 in a report on Tuesday, March 4th. Finally, Northland Capmk upgraded Hut 8 to a "strong-buy" rating in a research report on Monday, April 21st. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $27.67.

Hut 8 Trading Down 5.3 %

Shares of NASDAQ HUT traded down $0.70 during midday trading on Monday, reaching $12.70. 2,915,163 shares of the stock were exchanged, compared to its average volume of 5,077,783. Hut 8 Corp. has a 52-week low of $7.67 and a 52-week high of $31.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of $13.07 and a 200-day moving average price of $19.00.

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.