Hut 8 Corp. (NASDAQ:HUT) Shares Purchased by NewEdge Advisors LLC

NewEdge Advisors LLC raised its holdings in Hut 8 Corp. (NASDAQ:HUT) by 1,568.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,336 shares of the company’s stock after purchasing an additional 3,136 shares during the quarter. NewEdge Advisors LLC’s holdings in Hut 8 were worth $68,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Nisa Investment Advisors LLC raised its position in Hut 8 by 77.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock worth $26,000 after buying an additional 545 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in Hut 8 by 7.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,475 shares of the company’s stock worth $174,000 after purchasing an additional 618 shares in the last quarter. Arizona State Retirement System boosted its holdings in Hut 8 by 2.8% in the 4th quarter. Arizona State Retirement System now owns 23,764 shares of the company’s stock valued at $487,000 after purchasing an additional 637 shares in the last quarter. Foundations Investment Advisors LLC increased its position in Hut 8 by 1.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 50,687 shares of the company’s stock worth $1,039,000 after purchasing an additional 932 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Hut 8 during the 4th quarter worth approximately $26,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HUT. Northland Securities assumed coverage on Hut 8 in a research note on Monday, April 21st. They issued an “outperform” rating and a $20.00 price target on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $32.00 price target on shares of Hut 8 in a research note on Tuesday, March 4th. Rosenblatt Securities assumed coverage on shares of Hut 8 in a report on Friday, March 7th. They set a “buy” rating and a $23.00 price objective on the stock. Northland Capmk upgraded shares of Hut 8 to a “strong-buy” rating in a research report on Monday, April 21st. Finally, HC Wainwright reduced their price target on shares of Hut 8 from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Thirteen investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Hut 8 presently has an average rating of “Buy” and a consensus price target of $27.08.

Hut 8 Price Performance

Shares of NASDAQ:HUT opened at $13.80 on Friday. 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 Corp. has a 52-week low of $7.67 and a 52-week high of $31.95. The stock’s fifty day simple moving average is $12.61 and its 200-day simple moving average is $18.99.

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.