Deutsche Bank AG Has $982,000 Stake in Hut 8 Corp. $HUT

Deutsche Bank AG raised its stake in shares of Hut 8 Corp. (NASDAQ:HUT) by 18.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 84,536 shares of the company’s stock after purchasing an additional 13,161 shares during the period. Deutsche Bank AG owned 0.08% of Hut 8 worth $982,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Optiver Holding B.V. acquired a new stake in shares of Hut 8 in the fourth quarter valued at about $35,000. Russell Investments Group Ltd. lifted its stake in shares of Hut 8 by 832.4% in the fourth quarter. Russell Investments Group Ltd. now owns 2,042 shares of the company’s stock worth $42,000 after acquiring an additional 1,823 shares during the period. US Bancorp DE boosted its holdings in Hut 8 by 3,961.7% in the first quarter. US Bancorp DE now owns 3,290 shares of the company’s stock valued at $38,000 after acquiring an additional 3,209 shares during the last quarter. NewEdge Advisors LLC increased its position in Hut 8 by 1,568.0% during the 4th quarter. NewEdge Advisors LLC now owns 3,336 shares of the company’s stock valued at $68,000 after purchasing an additional 3,136 shares during the period. Finally, SBI Securities Co. Ltd. raised its holdings in Hut 8 by 51.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 9,468 shares of the company’s stock worth $110,000 after purchasing an additional 3,228 shares during the last quarter. Institutional investors own 31.75% of the company’s stock.

Insider Activity at Hut 8

In other news, Director Joseph Flinn sold 11,069 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $15.77, for a total transaction of $174,558.13. Following the transaction, the director directly owned 19,791 shares of the company’s stock, valued at $312,104.07. This represents a 35.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.20% of the stock is currently owned by corporate insiders.

Hut 8 Stock Performance

HUT stock opened at $23.37 on Monday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.81 and a quick ratio of 1.81. The company’s 50-day moving average is $20.51 and its 200-day moving average is $16.74. Hut 8 Corp. has a 1 year low of $8.73 and a 1 year high of $31.95.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.01. The business had revenue of $41.72 million for the quarter, compared to the consensus estimate of $49.10 million. Hut 8 had a return on equity of 8.73% and a net margin of 112.81%. Equities analysts anticipate that Hut 8 Corp. will post -0.53 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Roth Capital began coverage on shares of Hut 8 in a research note on Friday, June 6th. They issued a “buy” rating and a $25.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $21.00 target price on shares of Hut 8 in a report on Friday, May 9th. Maxim Group upped their price target on shares of Hut 8 from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Monday, August 11th. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Hut 8 in a research report on Friday, May 9th. Finally, Rosenblatt Securities dropped their price objective on Hut 8 from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. Four research analysts have rated the stock with a Strong Buy rating and fifteen have given a Buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $26.94.

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.