LPL Financial LLC Purchases 1,777 Shares of Hut 8 Corp. (NASDAQ:HUT)

LPL Financial LLC increased its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,019 shares of the company’s stock after buying an additional 1,777 shares during the period. LPL Financial LLC’s holdings in Hut 8 were worth $840,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Hut 8 by 21.1% during the third quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company’s stock worth $26,902,000 after acquiring an additional 381,720 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Hut 8 by 21.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,011,692 shares of the company’s stock worth $20,730,000 after purchasing an additional 178,527 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Hut 8 by 9.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 891,830 shares of the company’s stock valued at $18,242,000 after buying an additional 76,299 shares during the period. Barclays PLC increased its position in Hut 8 by 29.7% in the 3rd quarter. Barclays PLC now owns 124,527 shares of the company’s stock valued at $1,526,000 after buying an additional 28,532 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in Hut 8 by 239.2% in the 4th quarter. Intech Investment Management LLC now owns 36,816 shares of the company’s stock valued at $754,000 after buying an additional 25,963 shares in the last quarter. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Trading Down 4.9 %

Shares of NASDAQ:HUT opened at $10.64 on Tuesday. Hut 8 Corp. has a 1 year low of $7.67 and a 1 year high of $31.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. The business has a fifty day moving average price of $13.68 and a two-hundred day moving average price of $18.96.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HUT. 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 report on Tuesday, March 4th. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of Hut 8 in a report on Friday, March 7th. Canaccord Genuity Group reiterated a “buy” rating and set a $32.00 price objective on shares of Hut 8 in a report on Tuesday, March 4th. Needham & Company LLC reissued a “buy” rating and set a $30.00 target price on shares of Hut 8 in a research report on Tuesday, March 4th. Finally, Rosenblatt Securities initiated coverage on shares of Hut 8 in a research report on Friday, March 7th. They issued a “buy” rating and a $23.00 price target on the stock. Twelve equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $27.67.

Hut 8 Company 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.