FORA Capital LLC purchased a new position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 73,349 shares of the company's stock, valued at approximately $1,503,000. FORA Capital LLC owned about 0.08% of Hut 8 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of HUT. Nisa Investment Advisors LLC increased its holdings in shares of Hut 8 by 77.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company's stock valued at $26,000 after acquiring an additional 545 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Hut 8 by 7.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,475 shares of the company's stock worth $174,000 after purchasing an additional 618 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Hut 8 by 2.8% in the 4th quarter. Arizona State Retirement System now owns 23,764 shares of the company's stock worth $487,000 after purchasing an additional 637 shares in the last quarter. Foundations Investment Advisors LLC boosted its position in shares of Hut 8 by 1.9% in 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 in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Hut 8 in the 4th quarter worth $26,000. 31.75% of the stock is owned by institutional investors.
Hut 8 Stock Down 2.5%
NASDAQ HUT traded down $0.42 on Wednesday, hitting $16.08. 5,669,937 shares of the company's stock were exchanged, compared to its average volume of 5,626,453. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. The firm's 50-day moving average price is $12.56 and its two-hundred day moving average price is $18.95. Hut 8 Corp. has a fifty-two week low of $7.67 and a fifty-two week high of $31.95.
Hut 8 (NASDAQ:HUT - Get Free Report) last released 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 company had revenue of $20.88 million during the quarter, compared to analysts' expectations of $33.68 million. On average, sell-side analysts anticipate that Hut 8 Corp. will post -0.53 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on HUT shares. BTIG Research started coverage on Hut 8 in a research report on Monday, April 14th. They issued a "buy" rating and a $18.00 price objective for the company. HC Wainwright reaffirmed a "buy" rating and set a $25.00 price target on shares of Hut 8 in a research report on Friday, May 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $21.00 price target on shares of Hut 8 in a research report on Friday, May 9th. Benchmark lowered their price target on Hut 8 from $41.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, B. Riley started coverage on Hut 8 in a research report on Wednesday. They set a "buy" rating and a $25.00 price target for the company. Fourteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $25.93.
Check Out Our Latest Report on Hut 8
Insider Buying and Selling
In other news, insider Victor Semah sold 11,363 shares of the 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 completion of the sale, the insider now owns 15,738 shares in the company, valued at $203,807.10. This represents 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 available at this link. Corporate insiders own 12.00% 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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