Oppenheimer & Co. Inc. increased its position in Hut 8 Mining Corp. (NASDAQ:HUT – Get Rating) by 145.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,571 shares of the company’s stock after acquiring an additional 39,466 shares during the period. Oppenheimer & Co. Inc.’s holdings in Hut 8 Mining were worth $367,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Blueshift Asset Management LLC acquired a new stake in shares of Hut 8 Mining in the first quarter valued at approximately $100,000. Pictet Asset Management SA bought a new stake in shares of Hut 8 Mining during the fourth quarter valued at approximately $96,000. Swiss National Bank bought a new stake in shares of Hut 8 Mining during the fourth quarter valued at approximately $2,697,000. Public Sector Pension Investment Board bought a new stake in shares of Hut 8 Mining during the fourth quarter valued at approximately $2,881,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Hut 8 Mining during the fourth quarter valued at approximately $92,000. 12.40% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on HUT shares. DA Davidson cut Hut 8 Mining from a “buy” rating to a “neutral” rating in a report on Wednesday, August 17th. HC Wainwright cut their price target on Hut 8 Mining from $19.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. Finally, Canaccord Genuity Group cut their price target on Hut 8 Mining from $12.00 to $6.00 and set a “buy” rating on the stock in a report on Friday, May 13th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.75.
Hut 8 Mining Trading Down 2.6 %
Hut 8 Mining Company Profile
Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America. The company engages in industrial scale bitcoin mining operations. It also owns and operates 38 BlockBoxes in Drumheller, Alberta; and 51 BlockBoxes in Medicine Hat, Alberta. Hut 8 Mining Corp. was incorporated in 2011 and is headquartered in Toronto, Canada.
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