SG Americas Securities LLC boosted its position in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 481.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,615 shares of the company's stock after purchasing an additional 33,635 shares during the quarter. SG Americas Securities LLC's holdings in Hut 8 were worth $472,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Optiver Holding B.V. acquired a new position in shares of Hut 8 in the fourth quarter worth about $35,000. Russell Investments Group Ltd. grew its position in shares of Hut 8 by 832.4% during the fourth quarter. Russell Investments Group Ltd. now owns 2,042 shares of the company's stock worth $42,000 after acquiring an additional 1,823 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of Hut 8 during the fourth quarter valued at approximately $45,000. Sterling Capital Management LLC grew its stake in shares of Hut 8 by 825.0% in the fourth quarter. Sterling Capital Management LLC now owns 2,553 shares of the company's stock worth $52,000 after purchasing an additional 2,277 shares in the last quarter. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of Hut 8 during the 4th quarter worth about $57,000. 31.75% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, Director Joseph Flinn sold 11,069 shares of the business's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $15.77, for a total transaction of $174,558.13. Following the transaction, the director now directly owns 19,791 shares in the company, valued at approximately $312,104.07. The trade was a 35.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victor Semah sold 11,363 shares of the company's stock in a transaction dated 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 approximately $203,807.10. The trade was a 41.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.20% of the stock is owned by insiders.
Hut 8 Stock Performance
Shares of NASDAQ HUT traded down $1.02 during midday trading on Friday, reaching $17.66. 7,686,138 shares of the company traded hands, compared to its average volume of 5,846,441. Hut 8 Corp. has a 12 month low of $8.73 and a 12 month high of $31.95. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.27. The stock's 50-day simple moving average is $15.58 and its 200-day simple moving average is $17.61.
Hut 8 (NASDAQ:HUT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company had revenue of $20.88 million during the quarter, compared to the consensus estimate of $33.68 million. Hut 8 had a positive return on equity of 13.00% and a negative net margin of 39.92%. As a group, analysts forecast that Hut 8 Corp. will post -0.53 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the company. Citizens Jmp raised Hut 8 to a "strong-buy" rating and set a $25.00 target price for the company in a research note on Thursday, May 22nd. Northland Securities initiated coverage on shares of Hut 8 in a research note on Monday, April 21st. They set an "outperform" rating and a $20.00 target price for the company. Canaccord Genuity Group reissued a "buy" rating and issued a $32.00 target price on shares of Hut 8 in a research report on Monday, May 12th. Rosenblatt Securities began coverage on Hut 8 in a report on Friday, March 7th. They set a "buy" rating and a $23.00 price objective on the stock. Finally, Roth Capital began coverage on Hut 8 in a research report on Friday, June 6th. They issued a "buy" rating and a $25.00 price target on the stock. Fifteen investment analysts have rated the stock with a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Hut 8 has an average rating of "Buy" and a consensus target price of $25.76.
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About Hut 8
(
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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