GTS Securities LLC Decreases Holdings in Hut 8 Corp. (NASDAQ:HUT)

GTS Securities LLC lowered its position in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 70.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,453 shares of the company's stock after selling 40,089 shares during the period. GTS Securities LLC's holdings in Hut 8 were worth $337,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jericho Capital Asset Management L.P. bought a new position in Hut 8 during the fourth quarter valued at about $37,400,000. D. E. Shaw & Co. Inc. bought a new position in Hut 8 during the fourth quarter valued at about $27,115,000. Voloridge Investment Management LLC bought a new position in Hut 8 during the fourth quarter valued at about $24,170,000. Arrowstreet Capital Limited Partnership bought a new position in Hut 8 during the fourth quarter valued at about $23,009,000. Finally, Invesco Ltd. grew its position in Hut 8 by 1,408.8% during 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 during the period. Hedge funds and other institutional investors own 31.75% of the company's stock.

Insider Buying and Selling at Hut 8

In other Hut 8 news, insider Victor Semah sold 11,363 shares of Hut 8 stock in a transaction that occurred on Monday, May 5th. The shares were 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 directly owns 15,738 shares in the company, valued at $203,807.10. The trade was a 41.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HUT has been the subject of several recent research reports. Northland Capmk upgraded shares of Hut 8 to a "strong-buy" rating in a research note on Monday, April 21st. BTIG Research initiated coverage on shares of Hut 8 in a research note on Monday, April 14th. They issued a "buy" rating and a $18.00 target price for the company. Rosenblatt Securities initiated coverage on shares of Hut 8 in a research note on Friday, March 7th. They issued a "buy" rating and a $23.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and issued a $21.00 target price on shares of Hut 8 in a research note on Friday, May 9th. Finally, JMP Securities initiated coverage on shares of Hut 8 in a research note on Thursday, May 22nd. They issued a "market outperform" rating and a $25.00 target price for the company. Fifteen research analysts have rated the stock with a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $25.81.

Hut 8 Price Performance

Shares of HUT stock traded down $0.26 during trading hours on Friday, reaching $15.12. The stock had a trading volume of 7,477,779 shares, compared to its average volume of 5,851,395. The stock's fifty day simple moving average is $13.52 and its 200 day simple moving average is $18.75. 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.

Hut 8 (NASDAQ:HUT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The firm had revenue of $20.88 million for the quarter, compared to the consensus estimate of $33.68 million. As a group, analysts expect that Hut 8 Corp. will post -0.53 EPS for the current year.

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.