SteelPeak Wealth LLC Has $530,000 Stock Position in Hut 8 Corp. (NASDAQ:HUT)

SteelPeak Wealth LLC trimmed its position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 80.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,750 shares of the company's stock after selling 161,987 shares during the quarter. SteelPeak Wealth LLC owned approximately 0.09% of Hut 8 worth $530,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in HUT. Van ECK Associates Corp lifted its holdings in Hut 8 by 15.7% in the third quarter. Van ECK Associates Corp now owns 2,198,471 shares of the company's stock valued at $4,287,000 after buying an additional 297,552 shares during the period. GSG Advisors LLC acquired a new position in Hut 8 in the third quarter valued at approximately $273,000. Wellington Management Group LLP lifted its holdings in Hut 8 by 203.4% in the third quarter. Wellington Management Group LLP now owns 1,125,958 shares of the company's stock valued at $2,224,000 after buying an additional 754,891 shares during the period. Qube Research & Technologies Ltd acquired a new position in Hut 8 in the third quarter valued at approximately $3,429,000. Finally, Vontobel Holding Ltd. raised its holdings in Hut 8 by 274.6% in the third quarter. Vontobel Holding Ltd. now owns 50,476 shares of the company's stock worth $99,000 after purchasing an additional 37,000 shares during the period. 31.75% of the stock is owned by institutional investors.

Hut 8 Stock Down 7.3 %

Shares of NASDAQ:HUT traded down $0.71 during midday trading on Friday, reaching $8.98. 3,035,370 shares of the company were exchanged, compared to its average volume of 4,682,080. Hut 8 Corp. has a fifty-two week low of $6.18 and a fifty-two week high of $22.75. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $8.60 and a two-hundred day simple moving average of $6.82. The firm has a market cap of $801.38 million, a PE ratio of -3.27 and a beta of 3.91.

Wall Street Analyst Weigh In

HUT has been the topic of a number of recent analyst reports. HC Wainwright lifted their price target on shares of Hut 8 from $7.00 to $9.00 and gave the stock a "sell" rating in a research report on Thursday, March 28th. Craig Hallum lifted their price target on shares of Hut 8 from $10.00 to $12.00 and gave the stock a "hold" rating in a research report on Monday, April 1st. Canaccord Genuity Group reduced their price target on shares of Hut 8 from $17.50 to $14.00 and set a "buy" rating on the stock in a research report on Friday. Stifel Nicolaus lifted their price target on shares of Hut 8 from $3.25 to $15.00 and gave the stock a "speculative buy" rating in a research report on Monday, January 8th. Finally, Needham & Company LLC reissued a "buy" rating and set a $12.00 price target on shares of Hut 8 in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Hut 8 currently has a consensus rating of "Hold" and a consensus price target of $12.40.

Hut 8 Profile

Hut 8 Corp. provides digital asset mining and high-performance computing infrastructure solutions in Canada. It operates computing infrastructure sites mines Bitcoin, as well as delivers cloud, colocation, and computing services to enterprise customers. The company was founded in 2017 and is based in Miami, Florida.