Two Seas Capital LP Purchases 271,892 Shares of Hut 8 Corp. (NASDAQ:HUT)

Two Seas Capital LP increased its position in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 132.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 476,808 shares of the company's stock after purchasing an additional 271,892 shares during the quarter. Hut 8 makes up 0.8% of Two Seas Capital LP's portfolio, making the stock its 16th largest holding. Two Seas Capital LP owned approximately 0.51% of Hut 8 worth $9,770,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HUT. Dendur Capital LP bought a new position in Hut 8 in the 4th quarter valued at $5,362,000. Price T Rowe Associates Inc. MD lifted its position in Hut 8 by 66.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 44,038 shares of the company's stock valued at $903,000 after purchasing an additional 17,531 shares during the period. Stifel Financial Corp bought a new position in shares of Hut 8 in the 4th quarter valued at about $2,967,000. Tower Research Capital LLC TRC grew its holdings in Hut 8 by 14.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,059 shares of the company's stock worth $309,000 after acquiring an additional 1,925 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Hut 8 by 6.2% during the 4th quarter. MetLife Investment Management LLC now owns 49,634 shares of the company's stock valued at $1,017,000 after acquiring an additional 2,915 shares during the last quarter. Institutional investors and hedge funds own 31.75% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. HC Wainwright decreased their price objective on Hut 8 from $35.00 to $30.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price target on shares of Hut 8 in a research note on Friday, March 7th. Northland Capmk raised shares of Hut 8 to a "strong-buy" rating in a research note on Monday, April 21st. Benchmark lowered their target price on shares of Hut 8 from $41.00 to $33.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $32.00 price target on shares of Hut 8 in a research report on Tuesday, March 4th. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $27.67.

Hut 8 Stock Down 7.0 %

HUT traded down $0.91 during trading hours on Wednesday, hitting $12.14. 2,388,889 shares of the company's stock were exchanged, compared to its average volume of 5,411,215. Hut 8 Corp. has a 1-year low of $7.67 and a 1-year high of $31.95. The stock's 50-day moving average is $12.80 and its two-hundred day moving average is $18.97. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00.

Hut 8 Profile

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.