Hut 8 Mining Corp. (NASDAQ:HUT) Stock Holdings Lifted by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Hut 8 Mining Corp. (NASDAQ:HUT – Get Rating) by 75.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 154,633 shares of the company’s stock after acquiring an additional 66,616 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. owned about 0.07% of Hut 8 Mining worth $126,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC purchased a new position in shares of Hut 8 Mining in the second quarter worth approximately $3,697,000. Pinpoint Asset Management Ltd purchased a new position in shares of Hut 8 Mining in the third quarter worth approximately $2,956,000. Barclays PLC boosted its holdings in shares of Hut 8 Mining by 10,549.9% during the third quarter. Barclays PLC now owns 1,363,190 shares of the company’s stock worth $2,433,000 after purchasing an additional 1,350,390 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Hut 8 Mining by 10.6% during the third quarter. Van ECK Associates Corp now owns 1,360,605 shares of the company’s stock worth $2,422,000 after purchasing an additional 130,196 shares during the period. Finally, State Street Corp boosted its holdings in shares of Hut 8 Mining by 3.4% during the third quarter. State Street Corp now owns 630,724 shares of the company’s stock worth $1,123,000 after purchasing an additional 20,805 shares during the period. 8.46% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on HUT shares. HC Wainwright decreased their price target on shares of Hut 8 Mining from $2.00 to $1.60 and set a “neutral” rating for the company in a report on Friday, March 10th. Canaccord Genuity Group decreased their price target on shares of Hut 8 Mining from $6.00 to $5.00 and set a “buy” rating for the company in a report on Monday, March 13th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $3.65.

Hut 8 Mining Price Performance

NASDAQ HUT opened at $1.78 on Wednesday. The company has a quick ratio of 8.15, a current ratio of 8.15 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $393.86 million, a PE ratio of -1.98 and a beta of 4.27. The company has a 50 day moving average price of $1.75 and a two-hundred day moving average price of $1.60. Hut 8 Mining Corp. has a 12-month low of $0.78 and a 12-month high of $3.70.

Hut 8 Mining (NASDAQ:HUT – Get Rating) last posted its earnings results on Thursday, March 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The business had revenue of $16.08 million during the quarter, compared to analyst estimates of $19.77 million. Hut 8 Mining had a negative net margin of 150.95% and a negative return on equity of 14.53%. As a group, equities analysts predict that Hut 8 Mining Corp. will post -0.39 earnings per share for the current fiscal year.

Hut 8 Mining Company Profile

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Hut 8 Mining Corp. is a cryptocurrency mining and blockchain infrastructure company, which is focused solely on mining bitcoin. It provides investors with direct access to bitcoin, without the technical complexity or constraints of purchasing the underlying cryptocurrency. The company was founded by Andrew Kiguel on June 9, 2011 and is headquartered in Toronto, Canada.