Metavasi Capital LP Has $3.02 Million Position in Hut 8 Corp. (NASDAQ:HUT)

Metavasi Capital LP decreased its holdings in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 26.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,500 shares of the company's stock after selling 52,500 shares during the period. Hut 8 comprises 1.1% of Metavasi Capital LP's portfolio, making the stock its 20th largest holding. Metavasi Capital LP owned about 0.16% of Hut 8 worth $3,022,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Jericho Capital Asset Management L.P. bought a new position in Hut 8 during the fourth quarter valued at about $37,400,000. Northern Trust Corp increased its stake in shares of Hut 8 by 4.1% in the fourth quarter. Northern Trust Corp now owns 717,575 shares of the company's stock worth $14,703,000 after purchasing an additional 28,462 shares during the period. Optiver Holding B.V. acquired a new position in shares of Hut 8 during the 4th quarter worth about $35,000. Oxford Asset Management LLP acquired a new stake in Hut 8 in the 4th quarter valued at approximately $260,000. Finally, Northern Right Capital Management L.P. grew its holdings in Hut 8 by 9.2% in the 4th quarter. Northern Right Capital Management L.P. now owns 455,000 shares of the company's stock valued at $9,323,000 after buying an additional 38,348 shares during the last quarter. 31.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HUT has been the topic of several research analyst reports. Keefe, Bruyette & Woods started coverage on shares of Hut 8 in a research note on Wednesday, January 8th. They issued an "outperform" rating on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 price objective on shares of Hut 8 in a research report on Tuesday, March 4th. HC Wainwright reduced their target price on shares of Hut 8 from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price target on shares of Hut 8 in a report on Friday, March 7th. Finally, 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. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $27.08.

Insider Activity at Hut 8

In related 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 value of $147,150.85. Following the completion of the transaction, the insider now owns 15,738 shares in the company, valued at $203,807.10. The trade was a 41.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 12.00% of the company's stock.

Hut 8 Stock Down 0.6 %

Shares of HUT traded down $0.07 during trading hours on Tuesday, hitting $12.69. The stock had a trading volume of 2,262,448 shares, compared to its average volume of 5,461,757. Hut 8 Corp. has a 52 week low of $7.67 and a 52 week high of $31.95. The company's fifty day moving average is $12.57 and its two-hundred day moving average is $19.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35.

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.