The Manufacturers Life Insurance Company Sells 716 Shares of Hut 8 Corp. (NASDAQ:HUT)

The Manufacturers Life Insurance Company lessened its stake in shares of Hut 8 Corp. (NASDAQ:HUT) by 2.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 29,962 shares of the company’s stock after selling 716 shares during the period. The Manufacturers Life Insurance Company’s holdings in Hut 8 were worth $367,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in Hut 8 in the third quarter worth approximately $40,000. Amalgamated Bank purchased a new stake in shares of Hut 8 during the second quarter valued at $42,000. Intech Investment Management LLC purchased a new stake in shares of Hut 8 during the third quarter valued at $133,000. Victory Capital Management Inc. purchased a new stake in shares of Hut 8 during the second quarter valued at $154,000. Finally, Entropy Technologies LP purchased a new stake in shares of Hut 8 during the third quarter valued at $170,000. Institutional investors own 31.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HUT shares. HC Wainwright boosted their target price on shares of Hut 8 from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus upped their price target on shares of Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald started coverage on shares of Hut 8 in a research report on Monday, December 9th. They set an “overweight” rating and a $35.00 price target for the company. Needham & Company LLC upped their price objective on shares of Hut 8 from $21.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Craig Hallum upped their price objective on shares of Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $30.86.

Hut 8 Trading Up 0.0 %

NASDAQ:HUT opened at $27.33 on Monday. 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 company has a 50 day moving average price of $20.43 and a 200 day moving average price of $15.49. Hut 8 Corp. has a fifty-two week low of $6.18 and a fifty-two week 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.