Hut 8 Corp. (NASDAQ:HUT) Shares Sold by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lowered its stake in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 44.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 88,921 shares of the company's stock after selling 72,603 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned 0.10% of Hut 8 worth $1,822,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. R Squared Ltd bought a new position in Hut 8 in the 4th quarter valued at $26,000. Nisa Investment Advisors LLC grew its position in 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 last quarter. Optiver Holding B.V. bought a new position in Hut 8 in the 4th quarter valued at $35,000. Russell Investments Group Ltd. grew its position in Hut 8 by 832.4% in the 4th quarter. Russell Investments Group Ltd. now owns 2,042 shares of the company's stock valued at $42,000 after acquiring an additional 1,823 shares during the last quarter. Finally, Principal Securities Inc. bought a new position in Hut 8 in the 4th quarter valued at $45,000. Institutional investors own 31.75% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Northland Securities assumed coverage on Hut 8 in a research report on Monday, April 21st. They issued an "outperform" rating and a $20.00 price objective on the stock. Rosenblatt Securities assumed coverage on Hut 8 in a research report on Friday, March 7th. They issued a "buy" rating and a $23.00 price objective on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $21.00 price objective on shares of Hut 8 in a research report on Friday, May 9th. BTIG Research initiated coverage on Hut 8 in a research report on Monday, April 14th. They set a "buy" rating and a $18.00 price target on the stock. Finally, UBS Group set a $33.00 price target on Hut 8 in a research report on Wednesday, April 2nd. Fourteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Hut 8 has an average rating of "Buy" and an average target price of $25.93.

Insider Transactions at Hut 8

In related news, insider Victor Semah sold 11,363 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was 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. This trade represents a 41.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 12.00% of the company's stock.

Hut 8 Trading Down 2.2%

Shares of NASDAQ:HUT traded down $0.37 during trading on Wednesday, hitting $16.13. The stock had a trading volume of 7,606,312 shares, compared to its average volume of 5,643,023. Hut 8 Corp. has a 12-month low of $8.09 and a 12-month high of $31.95. 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 stock has a 50-day simple moving average of $12.56 and a two-hundred day simple moving average of $18.95.

Hut 8 (NASDAQ:HUT - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $20.88 million during the quarter, compared to analysts' expectations of $33.68 million. Sell-side analysts predict that Hut 8 Corp. will post -0.53 earnings per share for the current fiscal year.

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.