Tobam purchased a new stake in Hut 8 Corp. (NASDAQ:HUT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,463 shares of the company's stock, valued at approximately $273,000.
A number of other institutional investors and hedge funds have also bought and sold shares of HUT. Rhumbline Advisers grew its stake in Hut 8 by 2.3% in the 4th quarter. Rhumbline Advisers now owns 128,351 shares of the company's stock valued at $2,630,000 after buying an additional 2,944 shares during the last quarter. Principal Securities Inc. acquired a new position in Hut 8 in the 4th quarter valued at about $45,000. New York State Common Retirement Fund grew its stake in Hut 8 by 5.6% in the 4th quarter. New York State Common Retirement Fund now owns 27,140 shares of the company's stock valued at $556,000 after buying an additional 1,440 shares during the last quarter. Global Retirement Partners LLC grew its stake in Hut 8 by 80.3% in the 4th quarter. Global Retirement Partners LLC now owns 9,428 shares of the company's stock valued at $193,000 after buying an additional 4,200 shares during the last quarter. Finally, Sigma Planning Corp acquired a new position in Hut 8 in the 4th quarter valued at about $451,000. Institutional investors and hedge funds own 31.75% of the company's stock.
Insider Buying and Selling
In other Hut 8 news, insider Victor Semah sold 11,363 shares of the business's stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 11.20% of the stock is owned by corporate insiders.
Hut 8 Stock Down 4.8%
HUT stock traded down $0.88 during trading on Friday, reaching $17.48. 4,827,211 shares of the company were exchanged, compared to its average volume of 5,902,066. The company has a 50-day moving average of $14.59 and a two-hundred day moving average of $18.18. Hut 8 Corp. has a twelve month low of $8.73 and a twelve month high of $31.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00.
Hut 8 (NASDAQ:HUT - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.06). The company had revenue of $20.88 million for the quarter, compared to analyst estimates of $33.68 million. On average, equities analysts anticipate that Hut 8 Corp. will post -0.53 EPS for the current year.
Analyst Ratings Changes
HUT has been the subject of a number of recent research reports. JMP Securities initiated coverage on shares of Hut 8 in a report on Thursday, May 22nd. They issued a "market outperform" rating and a $25.00 price objective for the company. HC Wainwright reissued a "buy" rating and issued a $25.00 price objective on shares of Hut 8 in a report on Friday, May 9th. B. Riley initiated coverage on shares of Hut 8 in a report on Wednesday, May 14th. They issued a "buy" rating and a $25.00 price objective for the company. Citigroup initiated coverage on shares of Hut 8 in a report on Thursday, May 22nd. They issued an "outperform" rating for the company. Finally, Northland Capmk raised shares of Hut 8 to a "strong-buy" rating in a report on Monday, April 21st. Fifteen analysts have rated the stock with a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Hut 8 presently has an average rating of "Buy" and an average target price of $25.76.
Check Out Our Latest Stock Report on Hut 8
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.
Featured Articles
Before you consider Hut 8, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hut 8 wasn't on the list.
While Hut 8 currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
