Stifel Financial Corp bought a new stake in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 144,783 shares of the company's stock, valued at approximately $2,967,000. Stifel Financial Corp owned 0.15% of Hut 8 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in HUT. Vanguard Group Inc. lifted its stake in shares of Hut 8 by 3.9% during the 4th quarter. Vanguard Group Inc. now owns 6,459,385 shares of the company's stock worth $132,352,000 after buying an additional 245,113 shares during the last quarter. BIT Capital GmbH raised its stake in shares of Hut 8 by 11.5% during the 4th quarter. BIT Capital GmbH now owns 1,818,456 shares of the company's stock worth $37,260,000 after purchasing an additional 187,773 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Hut 8 in the 4th quarter valued at approximately $23,009,000. Charles Schwab Investment Management Inc. lifted its position in Hut 8 by 21.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,011,692 shares of the company's stock valued at $20,730,000 after purchasing an additional 178,527 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Hut 8 by 1,408.8% during the fourth quarter. Invesco Ltd. now owns 936,650 shares of the company's stock valued at $19,192,000 after purchasing an additional 874,572 shares during the period. 31.75% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, insider Victor Semah sold 11,363 shares of the 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 transaction, the insider now directly owns 15,738 shares in the company, valued at $203,807.10. This trade represents a 41.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 12.00% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of analysts have weighed in on HUT shares. HC Wainwright restated a "buy" rating and set a $25.00 target price on shares of Hut 8 in a report on Friday. Northland Capmk upgraded shares of Hut 8 to a "strong-buy" rating in a report on Monday, April 21st. UBS Group set a $33.00 price objective on Hut 8 in a research report on Wednesday, April 2nd. Rosenblatt Securities assumed coverage on Hut 8 in a research report on Friday, March 7th. They set a "buy" rating and a $23.00 price target on the stock. Finally, BTIG Research began coverage on Hut 8 in a research report on Monday, April 14th. They set a "buy" rating and a $18.00 target price on the stock. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $26.00.
Check Out Our Latest Stock Report on Hut 8
Hut 8 Price Performance
Hut 8 stock traded down $0.54 during trading on Friday, hitting $13.63. The stock had a trading volume of 5,093,541 shares, compared to its average volume of 5,527,209. The stock's 50 day moving average is $12.49 and its two-hundred day moving average is $18.92. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00. Hut 8 Corp. has a 1 year low of $7.67 and a 1 year high of $31.95.
Hut 8 (NASDAQ:HUT - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $20.88 million for the quarter, compared to analysts' expectations of $33.68 million. Analysts predict that Hut 8 Corp. will post -0.53 earnings per share for the current fiscal year.
Hut 8 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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