Hut 8 Corp. (NASDAQ:HUT) Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 239.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,816 shares of the company’s stock after buying an additional 25,963 shares during the quarter. Intech Investment Management LLC’s holdings in Hut 8 were worth $754,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position in shares of Hut 8 by 77.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock valued at $26,000 after acquiring an additional 545 shares during the period. Arizona State Retirement System boosted its position in Hut 8 by 2.8% during the fourth quarter. Arizona State Retirement System now owns 23,764 shares of the company’s stock worth $487,000 after purchasing an additional 637 shares in the last quarter. Foundations Investment Advisors LLC grew its holdings in Hut 8 by 1.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 50,687 shares of the company’s stock valued at $1,039,000 after purchasing an additional 932 shares during the period. R Squared Ltd purchased a new stake in shares of Hut 8 in the fourth quarter valued at approximately $26,000. Finally, New York State Common Retirement Fund raised its stake in shares of Hut 8 by 5.6% during the 4th quarter. New York State Common Retirement Fund now owns 27,140 shares of the company’s stock worth $556,000 after buying an additional 1,440 shares during the period. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price target on shares of Hut 8 in a report on Tuesday, March 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of Hut 8 in a research note on Friday, March 7th. Keefe, Bruyette & Woods began coverage on shares of Hut 8 in a research note on Wednesday, January 8th. They issued an “outperform” rating on the stock. HC Wainwright lowered their price objective on Hut 8 from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, Piper Sandler assumed coverage on Hut 8 in a report on Tuesday, December 17th. They set an “overweight” rating and a $33.00 target price for the company. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, Hut 8 presently has a consensus rating of “Buy” and an average price target of $29.89.

Hut 8 Stock Down 0.2 %

Shares of Hut 8 stock opened at $12.90 on Monday. 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 stock’s 50 day simple moving average is $18.69 and its 200-day simple moving average is $18.91. Hut 8 Corp. has a 1-year low of $6.95 and a 1-year high of $31.95.

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.