Hut 8 Corp. (NASDAQ:HUT) Shares Sold by Hel Ved Capital Management Ltd

Hel Ved Capital Management Ltd reduced its stake in shares of Hut 8 Corp. (NASDAQ:HUT) by 5.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 192,910 shares of the company’s stock after selling 11,290 shares during the period. Hut 8 accounts for about 1.2% of Hel Ved Capital Management Ltd’s portfolio, making the stock its 26th largest holding. Hel Ved Capital Management Ltd’s holdings in Hut 8 were worth $3,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in HUT. Arrowstreet Capital Limited Partnership purchased a new stake in Hut 8 in the 4th quarter valued at $23,009,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Hut 8 in the fourth quarter valued at about $9,378,000. Geode Capital Management LLC increased its position in Hut 8 by 21.1% during the third quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company’s stock worth $26,902,000 after purchasing an additional 381,720 shares during the last quarter. Trexquant Investment LP purchased a new position in Hut 8 during the fourth quarter worth about $6,788,000. Finally, State Street Corp boosted its holdings in Hut 8 by 12.6% in the 3rd quarter. State Street Corp now owns 2,740,769 shares of the company’s stock valued at $33,602,000 after purchasing an additional 307,292 shares during the last quarter. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. HC Wainwright cut their price target on shares of Hut 8 from $35.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Keefe, Bruyette & Woods initiated coverage on Hut 8 in a research report on Wednesday, January 8th. They issued an “outperform” rating on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of Hut 8 in a report on Friday, March 7th. Piper Sandler initiated 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 on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $30.00 target price on shares of Hut 8 in a research note on Tuesday, March 4th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $29.00.

Hut 8 Trading Down 4.4 %

NASDAQ HUT opened at $11.39 on Friday. Hut 8 Corp. has a one year low of $6.95 and a one year high of $31.95. The firm has a 50 day simple moving average of $16.08 and a 200-day simple moving average of $18.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00.

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.