Two Seas Capital LP raised its position in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 132.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 476,808 shares of the company's stock after purchasing an additional 271,892 shares during the quarter. Hut 8 makes up approximately 0.8% of Two Seas Capital LP's holdings, making the stock its 15th biggest position. Two Seas Capital LP owned about 0.51% of Hut 8 worth $9,770,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of HUT. Nisa Investment Advisors LLC raised its stake in shares of Hut 8 by 77.9% during the 4th 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. Summit Investment Advisors Inc. lifted its stake in Hut 8 by 7.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,475 shares of the company's stock valued at $174,000 after acquiring an additional 618 shares during the last quarter. Arizona State Retirement System grew its position in Hut 8 by 2.8% in the fourth quarter. Arizona State Retirement System now owns 23,764 shares of the company's stock worth $487,000 after acquiring an additional 637 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in shares of Hut 8 by 1.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 50,687 shares of the company's stock worth $1,039,000 after purchasing an additional 932 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Hut 8 during the 4th quarter worth $26,000. Hedge funds and other institutional investors own 31.75% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on HUT shares. B. Riley began coverage on shares of Hut 8 in a research note on Wednesday, May 14th. They issued a "buy" rating and a $25.00 price objective for the company. UBS Group set a $33.00 price target on Hut 8 in a research report on Wednesday, April 2nd. Citizens Jmp raised Hut 8 to a "strong-buy" rating and set a $25.00 price objective on the stock in a research note on Thursday. Northland Securities initiated coverage on Hut 8 in a research report on Monday, April 21st. They set an "outperform" rating and a $20.00 target price for the company. Finally, JMP Securities initiated coverage on Hut 8 in a report on Thursday. They set a "market outperform" rating and a $25.00 price target on the stock. 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.com, Hut 8 has an average rating of "Buy" and an average price target of $25.81.
View Our Latest Report on HUT
Hut 8 Stock Down 2.5%
Shares of NASDAQ:HUT traded down $0.43 on Monday, hitting $16.65. The stock had a trading volume of 7,161,489 shares, compared to its average volume of 5,805,992. The firm's 50 day moving average price is $13.25 and its 200-day moving average price is $18.93. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. Hut 8 Corp. has a twelve month low of $8.53 and a twelve month 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 analysts' consensus estimates of ($0.12) by ($0.06). The business had revenue of $20.88 million for the quarter, compared to analysts' expectations of $33.68 million. Research analysts forecast that Hut 8 Corp. will post -0.53 EPS for the current year.
Insider Activity at Hut 8
In related news, insider Victor Semah sold 11,363 shares of Hut 8 stock in a transaction 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 directly owns 15,738 shares of the company's stock, 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 Securities & Exchange Commission, which is available at this link. 11.20% of the stock is owned by company insiders.
Hut 8 Company 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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