MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 9.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 633,257 shares of the company's stock after selling 68,330 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.68% of Hut 8 worth $12,965,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in HUT. Nisa Investment Advisors LLC raised its position in shares of Hut 8 by 77.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company's stock worth $26,000 after purchasing an additional 545 shares during the period. R Squared Ltd bought a new position in Hut 8 during the 4th quarter worth $26,000. Optiver Holding B.V. acquired a new stake in Hut 8 in the fourth quarter worth $35,000. Russell Investments Group Ltd. lifted its stake in Hut 8 by 832.4% in the fourth 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. Finally, Principal Securities Inc. acquired a new position in shares of Hut 8 during the fourth quarter valued at $45,000. 31.75% of the stock is currently owned by institutional investors.
Hut 8 Price Performance
Shares of NASDAQ:HUT traded up $0.40 during midday trading on Wednesday, reaching $17.23. The company had a trading volume of 4,103,937 shares, compared to its average volume of 5,424,818. The company has a fifty day simple moving average of $13.01 and a two-hundred day simple moving average of $18.94. Hut 8 Corp. has a 1-year low of $8.53 and a 1-year 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.
Hut 8 (NASDAQ:HUT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.18) 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 the consensus estimate of $33.68 million. Research analysts forecast that Hut 8 Corp. will post -0.53 earnings per share for the current year.
Insider Activity at Hut 8
In related news, insider Victor Semah sold 11,363 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $12.95, for a total transaction of $147,150.85. Following the transaction, the insider now directly owns 15,738 shares of the company's stock, 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 the SEC website. 11.20% of the stock is owned by insiders.
Analyst Ratings Changes
A number of research firms recently weighed in on HUT. Benchmark dropped their price objective on shares of Hut 8 from $41.00 to $33.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Needham & Company LLC reiterated a "buy" rating and set a $21.00 price objective on shares of Hut 8 in a research report on Friday, May 9th. UBS Group set a $33.00 target price on Hut 8 in a research note on Wednesday, April 2nd. Canaccord Genuity Group reiterated a "buy" rating and set a $32.00 price target on shares of Hut 8 in a research report on Monday, May 12th. Finally, Northland Capmk raised Hut 8 to a "strong-buy" rating in a report on Monday, April 21st. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $25.93.
Check Out Our Latest Research Report on HUT
Hut 8 Company Profile
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Free Report)
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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