Marshall Wace LLP Purchases New Stake in Hut 8 Corp. (NASDAQ:HUT)

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HUT. Nisa Investment Advisors LLC raised its stake in shares of 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 purchasing an additional 545 shares during the period. R Squared Ltd bought a new position in shares of Hut 8 during the fourth quarter worth about $26,000. Russell Investments Group Ltd. raised 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 buying an additional 1,823 shares during the last quarter. Principal Securities Inc. bought a new stake in Hut 8 in the 4th quarter valued at approximately $45,000. Finally, Sterling Capital Management LLC boosted its position in Hut 8 by 825.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,553 shares of the company's stock worth $52,000 after acquiring an additional 2,277 shares during the last quarter. 31.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hut 8

In other news, insider Victor Semah sold 11,363 shares of Hut 8 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 sale, the insider now directly owns 15,738 shares in the company, valued at approximately $203,807.10. The trade was a 41.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.00% of the company's stock.

Hut 8 Stock Up 10.3 %

NASDAQ:HUT traded up $1.30 during mid-day trading on Thursday, hitting $13.96. 3,548,252 shares of the stock were exchanged, compared to its average volume of 5,486,082. The firm's 50-day simple moving average is $12.49 and its 200 day simple moving average is $18.93. Hut 8 Corp. has a fifty-two week low of $7.67 and a fifty-two week high of $31.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00.

Hut 8 (NASDAQ:HUT - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, topping analysts' consensus estimates of ($0.20) by $0.02. Sell-side analysts forecast that Hut 8 Corp. will post -0.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HUT has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated an "overweight" rating and issued a $30.00 price objective on shares of Hut 8 in a report on Friday, March 7th. UBS Group set a $33.00 price target on shares of Hut 8 in a research report on Wednesday, April 2nd. Northland Securities assumed coverage on Hut 8 in a report on Monday, April 21st. They issued an "outperform" rating and a $20.00 price objective for the company. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $32.00 target price on shares of Hut 8 in a research report on Tuesday, March 4th. Finally, Needham & Company LLC reissued a "buy" rating and set a $30.00 price target on shares of Hut 8 in a research report on Tuesday, March 4th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target 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.