Thomist Capital Management LP acquired a new stake in Hut 8 Corp. (NASDAQ:HUT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 24,200 shares of the company's stock, valued at approximately $502,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HUT. Nisa Investment Advisors LLC boosted its stake in Hut 8 by 77.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company's stock valued at $26,000 after buying an additional 545 shares in the last quarter. Summit Investment Advisors Inc. boosted 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 buying an additional 618 shares in the last quarter. Arizona State Retirement System boosted its stake in Hut 8 by 2.8% in the fourth quarter. Arizona State Retirement System now owns 23,764 shares of the company's stock valued at $487,000 after buying an additional 637 shares in the last quarter. Foundations Investment Advisors LLC boosted its stake in Hut 8 by 1.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 50,687 shares of the company's stock valued at $1,039,000 after buying an additional 932 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Hut 8 in the fourth quarter valued at about $26,000. 31.75% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on HUT shares. UBS Group set a $33.00 price objective on Hut 8 in a report on Wednesday, April 2nd. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price objective on shares of Hut 8 in a research report on Friday, March 7th. Rosenblatt Securities initiated coverage on Hut 8 in a research report on Friday, March 7th. They set a "buy" rating and a $23.00 price objective for the company. B. Riley initiated coverage on Hut 8 in a research report on Wednesday, May 14th. They set a "buy" rating and a $25.00 price objective for the company. Finally, Northland Capmk upgraded Hut 8 to a "strong-buy" rating in a research report on Monday, April 21st. Thirteen research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $25.93.
Get Our Latest Stock Analysis on HUT
Hut 8 Price Performance
Shares of NASDAQ:HUT traded down $0.34 during mid-day trading on Tuesday, hitting $16.83. 8,370,194 shares of the company traded hands, compared to its average volume of 5,721,079. 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 12-month low of $8.53 and a 12-month high of $31.95. The stock has a 50-day moving average price of $13.01 and a two-hundred day moving average price of $18.94.
Hut 8 (NASDAQ:HUT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) 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. On average, equities research analysts expect that Hut 8 Corp. will post -0.53 EPS for the current year.
Insider Buying and Selling at Hut 8
In other Hut 8 news, insider Victor Semah sold 11,363 shares of the business'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 now owns 15,738 shares of the company's stock, valued at approximately $203,807.10. The trade was a 41.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.20% of the company's stock.
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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