Hut 8 Corp. (NASDAQ:HUT) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG lifted its stake in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 46.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 71,375 shares of the company's stock after acquiring an additional 22,746 shares during the period. Deutsche Bank AG owned 0.08% of Hut 8 worth $1,462,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Hut 8 by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 6,459,385 shares of the company's stock valued at $132,352,000 after buying an additional 245,113 shares during the period. Northern Trust Corp grew its position in Hut 8 by 4.1% in the 4th quarter. Northern Trust Corp now owns 717,575 shares of the company's stock valued at $14,703,000 after acquiring an additional 28,462 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in Hut 8 in the 4th quarter valued at about $1,180,000. Jericho Capital Asset Management L.P. acquired a new position in Hut 8 in the 4th quarter valued at about $37,400,000. Finally, JPMorgan Chase & Co. grew its position in Hut 8 by 23.1% in the 4th quarter. JPMorgan Chase & Co. now owns 322,927 shares of the company's stock valued at $6,617,000 after acquiring an additional 60,542 shares in the last quarter. Hedge funds and other institutional investors own 31.75% of the company's stock.

Insider Transactions at Hut 8

In other news, insider Victor Semah sold 11,363 shares of the company'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 transaction of $147,150.85. Following the completion of the sale, the insider now owns 15,738 shares in the company, valued at $203,807.10. This represents a 41.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 11.20% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on HUT. HC Wainwright reaffirmed a "buy" rating and issued a $25.00 target price on shares of Hut 8 in a research report on Friday, May 9th. Northland Securities began coverage on Hut 8 in a research report on Monday, April 21st. They issued an "outperform" rating and a $20.00 target price for the company. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $32.00 target price on shares of Hut 8 in a research report on Monday, May 12th. BTIG Research started coverage on Hut 8 in a research report on Monday, April 14th. They set a "buy" rating and a $18.00 price objective for the company. Finally, Benchmark lowered their price objective on Hut 8 from $41.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Fifteen investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $25.81.

Hut 8 Stock Up 1.0%

NASDAQ HUT traded up $0.16 on Thursday, reaching $15.70. The stock had a trading volume of 1,293,730 shares, compared to its average volume of 5,807,108. 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 Corp. has a 12-month low of $8.53 and a 12-month high of $31.95. The business's 50-day moving average price is $13.46 and its 200 day moving average price is $18.88.

Hut 8 (NASDAQ:HUT - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $20.88 million during the quarter, compared to the consensus estimate of $33.68 million. Equities research analysts forecast that Hut 8 Corp. will post -0.53 earnings per share for the current fiscal year.

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.