Savior LLC Invests $1.54 Million in Hut 8 Corp. (NASDAQ:HUT)

Savior LLC bought a new stake in Hut 8 Corp. (NASDAQ:HUT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 115,671 shares of the company's stock, valued at approximately $1,543,000. Hut 8 accounts for approximately 8.1% of Savior LLC's investment portfolio, making the stock its 6th biggest holding. Savior LLC owned 0.26% of Hut 8 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HUT. Envestnet Asset Management Inc. increased its position in shares of Hut 8 by 22.8% during the first quarter. Envestnet Asset Management Inc. now owns 66,187 shares of the company's stock worth $365,000 after acquiring an additional 12,275 shares during the period. HighTower Advisors LLC increased its position in shares of Hut 8 by 10.6% during the first quarter. HighTower Advisors LLC now owns 58,146 shares of the company's stock worth $324,000 after acquiring an additional 5,556 shares during the period. Citigroup Inc. increased its position in shares of Hut 8 by 1,045.6% during the first quarter. Citigroup Inc. now owns 8,592 shares of the company's stock worth $47,000 after acquiring an additional 7,842 shares during the period. D.A. Davidson & CO. purchased a new stake in shares of Hut 8 during the first quarter worth $59,000. Finally, Vontobel Holding Ltd. purchased a new stake in shares of Hut 8 during the first quarter worth $74,000. Hedge funds and other institutional investors own 31.75% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Stifel Nicolaus boosted their target price on shares of Hut 8 from $3.25 to $15.00 and gave the stock a "speculative buy" rating in a research note on Monday, January 8th. Needham & Company LLC reiterated a "buy" rating and set a $12.00 target price on shares of Hut 8 in a research note on Monday, April 1st. Canaccord Genuity Group lowered their target price on shares of Hut 8 from $17.50 to $14.00 and set a "buy" rating for the company in a research note on Friday, April 5th. HC Wainwright boosted their target price on shares of Hut 8 from $7.00 to $9.00 and gave the stock a "sell" rating in a research note on Thursday, March 28th. Finally, Craig Hallum upped their price objective on shares of Hut 8 from $10.00 to $12.00 and gave the company a "hold" rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $12.40.

Hut 8 Stock Performance

Shares of HUT traded up $0.17 during mid-day trading on Friday, hitting $8.05. 2,220,840 shares of the company's stock were exchanged, compared to its average volume of 3,577,966. The firm has a market capitalization of $718.38 million, a P/E ratio of -2.93 and a beta of 3.91. Hut 8 Corp. has a fifty-two week low of $6.18 and a fifty-two week high of $22.75. The business's 50 day moving average is $8.70 and its two-hundred day moving average is $7.20. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 0.04.

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.