MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 633,257 shares of the company's stock after selling 68,330 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.68% of Hut 8 worth $12,965,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Jericho Capital Asset Management L.P. bought a new position in shares of Hut 8 during the 4th quarter valued at approximately $37,400,000. D. E. Shaw & Co. Inc. bought a new position in Hut 8 during the fourth quarter valued at $27,115,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Hut 8 in the fourth quarter valued at $23,009,000. Invesco Ltd. lifted its holdings in shares of Hut 8 by 1,408.8% in the 4th quarter. Invesco Ltd. now owns 936,650 shares of the company's stock worth $19,192,000 after acquiring an additional 874,572 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Hut 8 during the 4th quarter worth about $9,378,000. 31.75% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages have issued reports on HUT. Needham & Company LLC reissued a "buy" rating and issued a $21.00 price objective on shares of Hut 8 in a research note on Friday, May 9th. Northland Securities began coverage on Hut 8 in a research note on Monday, April 21st. They set an "outperform" rating and a $20.00 price target for the company. BTIG Research initiated coverage on Hut 8 in a research report on Monday, April 14th. They issued a "buy" rating and a $18.00 price objective on the stock. Rosenblatt Securities initiated coverage on Hut 8 in a research note on Friday, March 7th. They issued a "buy" rating and a $23.00 target price on the stock. Finally, Maxim Group started coverage on shares of Hut 8 in a research note on Thursday, May 1st. They set a "buy" rating and a $20.00 target price for the company. Thirteen equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $25.93.
Read Our Latest Report on Hut 8
Hut 8 Stock Performance
NASDAQ:HUT traded up $0.04 on Monday, reaching $17.17. 7,193,407 shares of the company's stock were exchanged, compared to its average volume of 5,699,262. Hut 8 Corp. has a 52-week low of $8.53 and a 52-week high of $31.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. The business has a fifty day moving average of $12.80 and a 200-day moving average of $18.95.
Hut 8 (NASDAQ:HUT - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The company had revenue of $20.88 million for the quarter, compared to analysts' expectations of $33.68 million. Equities analysts predict that Hut 8 Corp. will post -0.53 earnings per share for the current fiscal year.
Insider Transactions at Hut 8
In other Hut 8 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 transaction 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 legal filing with the SEC, which is available at this link. Corporate insiders own 11.20% of the company's stock.
About Hut 8
(
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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