Massachusetts Financial Services Co. MA grew its holdings in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 181.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,287,163 shares of the company's stock after acquiring an additional 829,484 shares during the period. Massachusetts Financial Services Co. MA owned 1.24% of Hut 8 worth $14,957,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Amundi acquired a new stake in shares of Hut 8 during the fourth quarter valued at about $196,000. Swiss National Bank increased its stake in Hut 8 by 2.7% during the fourth quarter. Swiss National Bank now owns 161,240 shares of the company's stock valued at $3,304,000 after purchasing an additional 4,300 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Hut 8 by 239.2% in the fourth quarter. Intech Investment Management LLC now owns 36,816 shares of the company's stock worth $754,000 after purchasing an additional 25,963 shares during the period. LPL Financial LLC raised its holdings in Hut 8 by 4.5% during the 4th quarter. LPL Financial LLC now owns 41,019 shares of the company's stock worth $840,000 after buying an additional 1,777 shares during the period. Finally, Vanguard Group Inc. boosted its position in Hut 8 by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 6,459,385 shares of the company's stock worth $132,352,000 after purchasing an additional 245,113 shares during the period. 31.75% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Hut 8
In other Hut 8 news, Director Joseph Flinn sold 11,069 shares of the firm's stock in a transaction that occurred 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 sale, the director owned 19,791 shares of the company's stock, valued at approximately $312,104.07. This trade represents a 35.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victor Semah sold 11,363 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $12.95, for a total value of $147,150.85. Following the transaction, the insider directly owned 15,738 shares in the company, valued at $203,807.10. This represents a 41.93% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 11.20% of the company's stock.
Hut 8 Price Performance
NASDAQ HUT traded down $0.50 on Friday, hitting $21.62. 5,333,212 shares of the company were exchanged, compared to its average volume of 5,777,642. Hut 8 Corp. has a 12 month low of $8.73 and a 12 month high of $31.95. The stock has a fifty day moving average of $18.23 and a 200-day moving average of $17.17. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.27.
Hut 8 (NASDAQ:HUT - Get Free Report) last issued its 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 firm had revenue of $20.88 million during the quarter, compared to analysts' expectations 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, research analysts expect that Hut 8 Corp. will post -0.53 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
HUT has been the topic of several recent analyst reports. BTIG Research assumed coverage on Hut 8 in a research report on Monday, April 14th. They set a "buy" rating and a $18.00 price target on the stock. Citigroup initiated coverage on Hut 8 in a research note on Thursday, May 22nd. They set an "outperform" rating for the company. Northland Capmk upgraded Hut 8 to a "strong-buy" rating in a report on Monday, April 21st. JMP Securities initiated coverage on Hut 8 in a research report on Thursday, May 22nd. They issued a "market outperform" rating and a $25.00 price objective on the stock. Finally, Roth Capital initiated coverage on Hut 8 in a research note on Friday, June 6th. They issued a "buy" rating and a $25.00 price target for the company. Fifteen analysts have rated the stock with a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Hut 8 presently has a consensus rating of "Buy" and an average target price of $26.12.
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Hut 8 Company Profile
(
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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