Hut 8 Corp. (NASDAQ:HUT) Stock Holdings Lifted by Northern Trust Corp

Northern Trust Corp lifted its holdings in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 717,575 shares of the company's stock after buying an additional 28,462 shares during the quarter. Northern Trust Corp owned approximately 0.77% of Hut 8 worth $14,703,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. R Squared Ltd acquired a new position in Hut 8 during the 4th quarter valued at about $26,000. Nisa Investment Advisors LLC increased its stake in Hut 8 by 77.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company's stock valued at $26,000 after buying an additional 545 shares during the period. Optiver Holding B.V. acquired a new position in Hut 8 during the 4th quarter valued at about $35,000. Russell Investments Group Ltd. increased its stake in Hut 8 by 832.4% during the 4th quarter. Russell Investments Group Ltd. now owns 2,042 shares of the company's stock valued at $42,000 after buying an additional 1,823 shares during the period. Finally, Principal Securities Inc. acquired a new position in shares of Hut 8 in the 4th quarter worth approximately $45,000. 31.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HUT shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price objective on shares of Hut 8 in a research note on Friday, March 7th. B. Riley started coverage on shares of Hut 8 in a research report on Wednesday. They issued a "buy" rating and a $25.00 target price on the stock. Maxim Group started coverage on shares of Hut 8 in a research report on Thursday, May 1st. They issued a "buy" rating and a $20.00 target price on the stock. UBS Group set a $33.00 target price on shares of Hut 8 in a research report on Wednesday, April 2nd. Finally, BTIG Research started coverage on shares of Hut 8 in a research report on Monday, April 14th. They issued a "buy" rating and a $18.00 target price on the stock. Thirteen investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Hut 8 presently has an average rating of "Buy" and a consensus target price of $25.93.

Hut 8 Stock Down 3.4%

Hut 8 stock opened at $15.58 on Friday. Hut 8 Corp. has a 52 week low of $8.53 and a 52 week high of $31.95. The business's 50-day simple moving average is $12.70 and its 200-day simple moving average is $18.92. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35.

Hut 8 (NASDAQ:HUT - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $20.88 million for the quarter, compared to analysts' expectations of $33.68 million. As a group, analysts forecast that Hut 8 Corp. will post -0.53 earnings per share for the current fiscal year.

Insider Transactions at Hut 8

In related news, insider Victor Semah sold 11,363 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $12.95, for a total transaction of $147,150.85. Following the transaction, the insider now owns 15,738 shares in the company, valued at $203,807.10. This represents a 41.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 12.00% of the stock is owned by insiders.

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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