BNP Paribas Financial Markets boosted its stake in Hut 8 Corp. (NASDAQ:HUT – Free Report) by 24.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,520 shares of the company’s stock after acquiring an additional 3,653 shares during the period. BNP Paribas Financial Markets’ holdings in Hut 8 were worth $227,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. D1 Capital Partners L.P. purchased a new stake in shares of Hut 8 in the second quarter valued at about $17,388,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Hut 8 during the 3rd quarter valued at approximately $9,997,000. Bank of New York Mellon Corp acquired a new stake in Hut 8 during the 2nd quarter worth approximately $4,390,000. Millennium Management LLC grew its stake in shares of Hut 8 by 46.4% in the 2nd quarter. Millennium Management LLC now owns 649,518 shares of the company’s stock valued at $9,733,000 after purchasing an additional 205,836 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Hut 8 by 31.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 833,165 shares of the company’s stock valued at $10,215,000 after purchasing an additional 197,074 shares during the period. 31.75% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. HC Wainwright lifted their price objective on Hut 8 from $26.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Stifel Nicolaus upped their price objective on Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a report on Wednesday, October 30th. Craig Hallum raised their target price on Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Canaccord Genuity Group upped their price target on shares of Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Cantor Fitzgerald initiated coverage on shares of Hut 8 in a research note on Monday, December 9th. They issued an “overweight” rating and a $35.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Hut 8 presently has a consensus rating of “Buy” and a consensus price target of $30.86.
Hut 8 Price Performance
HUT opened at $29.06 on Tuesday. 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 Corp. has a 1 year low of $6.18 and a 1 year high of $31.95. The company’s 50 day simple moving average is $20.43 and its 200 day simple moving average is $15.49.
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.
Featured Articles
- Five stocks we like better than Hut 8
- What Is WallStreetBets and What Stocks Are They Targeting?
- Semtech Stock Climbs as AI Boom Drives Turnaround Success
- How the NYSE and NASDAQ are Different, Why That Matters to Investors
- 3 Companies Leading the Way With Aggressive Stock Buybacks
- The 3 Best Fintech Stocks to Buy Now
- Is It Time to Buy Nuclear Energy Stocks After the Latest Dip?
Receive News & Ratings for Hut 8 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hut 8 and related companies with MarketBeat.com's FREE daily email newsletter.