Wellington Management Group LLP Has $145,000 Stake in Hut 8 Corp. (NASDAQ:HUT)

Wellington Management Group LLP reduced its holdings in Hut 8 Corp. (NASDAQ:HUT) by 11.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,790 shares of the company’s stock after selling 1,570 shares during the period. Wellington Management Group LLP’s holdings in Hut 8 were worth $145,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in Hut 8 in the third quarter valued at about $40,000. Amalgamated Bank bought a new stake in shares of Hut 8 in the 2nd quarter valued at about $42,000. Intech Investment Management LLC acquired a new stake in shares of Hut 8 in the 3rd quarter valued at approximately $133,000. Victory Capital Management Inc. bought a new position in Hut 8 during the 2nd quarter worth approximately $154,000. Finally, Entropy Technologies LP acquired a new position in Hut 8 during the third quarter valued at approximately $170,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HUT shares. Cantor Fitzgerald began coverage on shares of Hut 8 in a report on Monday, December 9th. They issued an “overweight” rating and a $35.00 target price on the stock. Needham & Company LLC upped their price objective on shares of Hut 8 from $32.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, December 17th. Stifel Nicolaus raised their price objective on Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a research note on Wednesday, October 30th. Piper Sandler assumed coverage on Hut 8 in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $33.00 target price for the company. Finally, Craig Hallum raised their price target on Hut 8 from $15.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Hut 8 presently has a consensus rating of “Buy” and an average price target of $31.88.

Hut 8 Stock Down 0.5 %

HUT opened at $23.68 on Friday. The firm’s fifty day simple moving average is $21.94 and its 200 day simple moving average is $16.06. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. Hut 8 Corp. has a 12 month low of $6.18 and a 12 month high of $31.95.

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.