Marshall Wace LLP Acquires Shares of 30,333 Hut 8 Corp. (NASDAQ:HUT)

Marshall Wace LLP bought a new position in Hut 8 Corp. (NASDAQ:HUT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,333 shares of the company's stock, valued at approximately $622,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HUT. Vanguard Group Inc. boosted its stake in shares of Hut 8 by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 6,459,385 shares of the company's stock worth $132,352,000 after acquiring an additional 245,113 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in Hut 8 in the 4th quarter worth about $1,180,000. JPMorgan Chase & Co. boosted its position in Hut 8 by 23.1% during the fourth quarter. JPMorgan Chase & Co. now owns 322,927 shares of the company's stock worth $6,617,000 after purchasing an additional 60,542 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Hut 8 by 9.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 891,830 shares of the company's stock valued at $18,242,000 after buying an additional 76,299 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of Hut 8 by 29.7% during the 3rd quarter. Barclays PLC now owns 124,527 shares of the company's stock worth $1,526,000 after buying an additional 28,532 shares during the period. 31.75% of the stock is owned by institutional investors and hedge funds.

Hut 8 Stock Performance

Hut 8 stock opened at $13.80 on Friday. 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 firm has a 50 day simple moving average of $12.61 and a 200-day simple moving average of $18.94. Hut 8 Corp. has a 1-year low of $7.67 and a 1-year high of $31.95.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HUT. Benchmark cut their price target on shares of Hut 8 from $41.00 to $33.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. UBS Group set a $33.00 price target on shares of Hut 8 in a research report on Wednesday, April 2nd. Northland Capmk upgraded Hut 8 to a "strong-buy" rating in a report on Monday, April 21st. Maxim Group began coverage on Hut 8 in a report on Thursday. They set a "buy" rating and a $20.00 target price for the company. Finally, Northland Securities began coverage on Hut 8 in a research report on Monday, April 21st. They issued an "outperform" rating and a $20.00 target price on the stock. Thirteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $27.08.

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.

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