Hut 8 Corp. (NASDAQ:HUT) Shares Acquired by Invesco Ltd.

Invesco Ltd. lifted its stake in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 1,408.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 936,650 shares of the company's stock after acquiring an additional 874,572 shares during the quarter. Invesco Ltd. owned 1.00% of Hut 8 worth $19,192,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Hut 8 in the 4th quarter valued at approximately $23,009,000. Massachusetts Financial Services Co. MA purchased a new position in Hut 8 in the fourth quarter valued at $9,378,000. Geode Capital Management LLC raised its stake in Hut 8 by 21.1% in the third quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company's stock valued at $26,902,000 after buying an additional 381,720 shares in the last quarter. Trexquant Investment LP purchased a new stake in Hut 8 during the 4th quarter worth about $6,788,000. Finally, State Street Corp boosted its position in shares of Hut 8 by 12.6% during the 3rd quarter. State Street Corp now owns 2,740,769 shares of the company's stock worth $33,602,000 after acquiring an additional 307,292 shares in the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on HUT. Benchmark decreased their target price on Hut 8 from $41.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods initiated coverage on shares of Hut 8 in a report on Wednesday, January 8th. They issued an "outperform" rating for the company. Needham & Company LLC reiterated a "buy" rating and set a $30.00 price target on shares of Hut 8 in a research note on Tuesday, March 4th. Northland Securities started coverage on shares of Hut 8 in a research report on Monday. They issued an "outperform" rating and a $20.00 price target for the company. Finally, Northland Capmk raised Hut 8 to a "strong-buy" rating in a report on Monday. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $27.67.

Hut 8 Trading Up 4.2 %

Shares of NASDAQ HUT traded up $0.52 during mid-day trading on Thursday, hitting $12.78. 1,511,592 shares of the company were exchanged, compared to its average volume of 5,374,443. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a 50 day simple moving average of $13.35 and a 200-day simple moving average of $18.87. Hut 8 Corp. has a 1-year low of $7.67 and a 1-year high of $31.95.

About Hut 8

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.