Barclays PLC Purchases 28,532 Shares of Hut 8 Corp. (NASDAQ:HUT)

Barclays PLC grew its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 29.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 124,527 shares of the company’s stock after acquiring an additional 28,532 shares during the quarter. Barclays PLC’s holdings in Hut 8 were worth $1,526,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Capital Performance Advisors LLP purchased a new position in Hut 8 in the third quarter worth about $40,000. Amalgamated Bank bought a new stake in shares of Hut 8 in the 2nd quarter valued at approximately $42,000. Intech Investment Management LLC purchased a new position in shares of Hut 8 in the 3rd quarter worth approximately $133,000. Victory Capital Management Inc. bought a new position in shares of Hut 8 during the 2nd quarter valued at approximately $154,000. Finally, XTX Topco Ltd bought a new position in shares of Hut 8 during the 3rd quarter valued at approximately $162,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HUT shares. Piper Sandler began coverage on Hut 8 in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $33.00 price target for the company. Stifel Nicolaus raised their target price on shares of Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a report on Wednesday, October 30th. HC Wainwright upped their price target on shares of Hut 8 from $26.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Craig Hallum raised their price objective on shares of Hut 8 from $15.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald began coverage on Hut 8 in a research note on Monday, December 9th. They set an “overweight” rating and a $35.00 target price on the stock. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $31.88.

Hut 8 Price Performance

Shares of HUT stock opened at $22.32 on Friday. The company’s 50-day simple moving average is $22.99 and its two-hundred day simple moving average is $16.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. Hut 8 Corp. has a one year low of $6.18 and a one 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.