Hut 8 Corp. (NASDAQ:HUT) Shares Sold by GTS Securities LLC

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

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HUT. Vanguard Group Inc. grew its stake in Hut 8 by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 6,459,385 shares of the company's stock worth $132,352,000 after buying an additional 245,113 shares during the last quarter. Northern Trust Corp boosted its holdings in Hut 8 by 4.1% in the fourth quarter. Northern Trust Corp now owns 717,575 shares of the company's stock worth $14,703,000 after acquiring an additional 28,462 shares in the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Hut 8 during the fourth quarter worth about $1,180,000. Jericho Capital Asset Management L.P. acquired a new position in shares of Hut 8 during the fourth quarter valued at about $37,400,000. Finally, JPMorgan Chase & Co. raised its position in shares of 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 purchasing an additional 60,542 shares during the last quarter. Hedge funds and other institutional investors own 31.75% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Maxim Group assumed coverage on shares of Hut 8 in a report on Thursday, May 1st. They issued a "buy" rating and a $20.00 price target for the company. Northland Securities initiated coverage on Hut 8 in a research report on Monday, April 21st. They set an "outperform" rating and a $20.00 price target for the company. BTIG Research initiated coverage on Hut 8 in a research note on Monday, April 14th. They set a "buy" rating and a $18.00 price target on the stock. Benchmark cut their price objective on Hut 8 from $41.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Finally, Northland Capmk raised Hut 8 to a "strong-buy" rating in a report on Monday, April 21st. Fifteen investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $25.81.

Hut 8 Stock Performance

Shares of NASDAQ:HUT traded down $0.06 during trading on Monday, hitting $15.21. 5,113,132 shares of the stock traded hands, compared to its average volume of 5,847,432. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00. The company has a fifty day moving average price of $13.57 and a two-hundred day moving average price of $18.61. Hut 8 Corp. has a 52-week low of $8.73 and a 52-week high of $31.95.

Hut 8 (NASDAQ:HUT - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company had revenue of $20.88 million for the quarter, compared to the consensus estimate of $33.68 million. On average, analysts predict that Hut 8 Corp. will post -0.53 earnings per share for the current fiscal year.

Insider Activity

In other Hut 8 news, insider Victor Semah sold 11,363 shares of the company's stock in a transaction 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 transaction, the insider now directly owns 15,738 shares in the company, valued at approximately $203,807.10. This represents a 41.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 11.20% of the company's stock.

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.