SG Americas Securities LLC Has $143,000 Stake in Hut 8 Corp. (NASDAQ:HUT)

SG Americas Securities LLC trimmed its position in Hut 8 Corp. (NASDAQ:HUT) by 74.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,980 shares of the company’s stock after selling 20,249 shares during the period. SG Americas Securities LLC’s holdings in Hut 8 were worth $143,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in shares of Hut 8 by 77.9% in 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 in the last quarter. Foundations Investment Advisors LLC grew its position in shares of Hut 8 by 2.1% in the 3rd quarter. Foundations Investment Advisors LLC now owns 49,755 shares of the company’s stock valued at $610,000 after acquiring an additional 1,027 shares during the period. AM Investment Strategies LLC increased its stake in shares of Hut 8 by 3.6% during the 3rd quarter. AM Investment Strategies LLC now owns 44,000 shares of the company’s stock worth $539,000 after purchasing an additional 1,521 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Hut 8 in the 3rd quarter valued at about $40,000. Finally, BNP Paribas Financial Markets lifted its stake in Hut 8 by 24.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 18,520 shares of the company’s stock valued at $227,000 after purchasing an additional 3,653 shares during the last quarter. 31.75% of the stock is owned by institutional investors.

Hut 8 Stock Down 0.3 %

Shares of Hut 8 stock opened at $20.81 on Tuesday. Hut 8 Corp. has a 1 year low of $6.77 and a 1 year high of $31.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average price of $24.30 and a 200-day moving average price of $18.13.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HUT shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 target price on shares of Hut 8 in a research note on Tuesday, January 7th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 target price on shares of Hut 8 in a research note on Monday, January 13th. Craig Hallum boosted their price target on Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Benchmark reiterated a “buy” rating and set a $41.00 price objective on shares of Hut 8 in a research report on Tuesday, January 7th. Finally, Piper Sandler started coverage on shares of Hut 8 in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $33.00 target price for the company. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $33.00.

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.