20,496 Shares in Hut 8 Corp. (NASDAQ:HUT) Acquired by Blueshift Asset Management LLC

Blueshift Asset Management LLC acquired a new stake in Hut 8 Corp. (NASDAQ:HUT) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,496 shares of the company’s stock, valued at approximately $251,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Hut 8 by 8,329.2% during the 1st quarter. Vanguard Group Inc. now owns 2,787,102 shares of the company’s stock valued at $30,770,000 after acquiring an additional 2,754,037 shares during the period. D1 Capital Partners L.P. purchased a new position in shares of Hut 8 in the second quarter valued at $17,388,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Hut 8 during the 3rd quarter valued at $9,997,000. Bank of New York Mellon Corp purchased a new stake in Hut 8 during the 2nd quarter worth about $4,390,000. Finally, Millennium Management LLC boosted its stake in Hut 8 by 46.4% in the 2nd quarter. Millennium Management LLC now owns 649,518 shares of the company’s stock worth $9,733,000 after purchasing an additional 205,836 shares during the period. 31.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HUT shares. Canaccord Genuity Group increased their price target on shares of Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Stifel Nicolaus raised their price target on shares of Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a report on Wednesday, October 30th. Benchmark upped their price target on shares of Hut 8 from $17.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Craig Hallum lifted their price objective on Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, HC Wainwright upped their target price on Hut 8 from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $30.17.

Hut 8 Stock Performance

Shares of Hut 8 stock opened at $28.45 on Friday. The company has a fifty day moving average of $17.13 and a 200-day moving average of $14.03. Hut 8 Corp. has a 52-week low of $6.18 and a 52-week high of $28.78. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35.

About Hut 8

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.