Hut 8 Corp. (NASDAQ:HUT) Shares Sold by Alight Capital Management LP

Alight Capital Management LP lowered its stake in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 45.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,000 shares of the company's stock after selling 90,000 shares during the period. Alight Capital Management LP owned about 0.12% of Hut 8 worth $2,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC increased its holdings in Hut 8 by 29.7% in the third quarter. Barclays PLC now owns 124,527 shares of the company's stock valued at $1,526,000 after buying an additional 28,532 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Hut 8 by 77.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company's stock worth $26,000 after acquiring an additional 545 shares in the last quarter. GoalVest Advisory LLC purchased a new position in shares of Hut 8 in the 4th quarter valued at about $330,000. KBC Group NV acquired a new stake in shares of Hut 8 during the 4th quarter worth about $69,000. Finally, Foundations Investment Advisors LLC lifted its stake in Hut 8 by 1.9% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 31.75% of the company's stock.

Hut 8 Stock Performance

Shares of NASDAQ:HUT opened at $13.51 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35. The business's fifty day moving average price is $12.63 and its two-hundred day moving average price is $18.93. Hut 8 Corp. has a one year low of $7.67 and a one year high of $31.95.

Analysts Set New Price Targets

A number of analysts have weighed in on HUT shares. Canaccord Genuity Group reissued a "buy" rating and set a $32.00 price objective on shares of Hut 8 in a report on Tuesday, March 4th. Benchmark reduced their price target on shares of Hut 8 from $41.00 to $33.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Needham & Company LLC restated a "buy" rating and issued a $30.00 price objective on shares of Hut 8 in a research note on Tuesday, March 4th. BTIG Research began coverage on Hut 8 in a research report on Monday, April 14th. They set a "buy" rating and a $18.00 target price on the stock. Finally, Northland Securities started coverage on Hut 8 in a research report on Monday, April 21st. They issued an "outperform" rating and a $20.00 target price for the company. Thirteen research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $27.08.

Hut 8 Profile

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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