Ameriprise Financial Inc. acquired a new position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 151,747 shares of the company's stock, valued at approximately $3,065,000. Ameriprise Financial Inc. owned about 0.16% of Hut 8 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of HUT. Nisa Investment Advisors LLC boosted its position in Hut 8 by 77.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company's stock worth $26,000 after purchasing an additional 545 shares in the last quarter. KBC Group NV purchased a new stake in shares of Hut 8 in the fourth quarter valued at $69,000. Foundations Investment Advisors LLC lifted its position in shares of Hut 8 by 1.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 50,687 shares of the company's stock valued at $1,039,000 after acquiring an additional 932 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Hut 8 in the fourth quarter valued at $26,000. Finally, Rhumbline Advisers lifted its position in shares of Hut 8 by 2.3% in the fourth quarter. Rhumbline Advisers now owns 128,351 shares of the company's stock valued at $2,630,000 after acquiring an additional 2,944 shares in the last quarter. 31.75% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, insider Victor Semah sold 11,363 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $12.95, for a total value of $147,150.85. Following the completion of the sale, the insider now directly owns 15,738 shares in the company, valued at approximately $203,807.10. The trade was a 41.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.20% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several analysts have recently issued reports on HUT shares. UBS Group set a $33.00 price objective on Hut 8 in a research report on Wednesday, April 2nd. Benchmark dropped their target price on Hut 8 from $41.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Rosenblatt Securities initiated coverage on Hut 8 in a research note on Friday, March 7th. They issued a "buy" rating and a $23.00 target price for the company. Citigroup initiated coverage on Hut 8 in a research note on Thursday, May 22nd. They issued an "outperform" rating for the company. Finally, Maxim Group initiated coverage on Hut 8 in a research note on Thursday, May 1st. They issued a "buy" rating and a $20.00 target price for the company. Fifteen investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $25.81.
Get Our Latest Stock Analysis on Hut 8
Hut 8 Price Performance
NASDAQ:HUT traded down $0.26 during mid-day trading on Friday, reaching $15.12. 7,477,779 shares of the stock were exchanged, compared to its average volume of 5,850,421. The business has a fifty day moving average price of $13.52 and a 200 day moving average price of $18.68. Hut 8 Corp. has a 1-year low of $8.73 and a 1-year high of $31.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00.
Hut 8 (NASDAQ:HUT - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The company had revenue of $20.88 million during the quarter, compared to analysts' expectations of $33.68 million. As a group, equities analysts expect that Hut 8 Corp. will post -0.53 EPS for the current year.
Hut 8 Profile
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Free Report)
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.
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