UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in Hut 8 Corp. (NASDAQ:HUT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its holdings in Hut 8 Corp. (NASDAQ:HUT) by 16.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,756 shares of the company’s stock after selling 26,428 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.15% of Hut 8 worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of Hut 8 in the 3rd quarter worth about $40,000. Amalgamated Bank bought a new position in Hut 8 in the second quarter worth about $42,000. Intech Investment Management LLC purchased a new stake in Hut 8 in the third quarter worth about $133,000. Victory Capital Management Inc. bought a new stake in Hut 8 during the 2nd quarter valued at approximately $154,000. Finally, Entropy Technologies LP purchased a new position in shares of Hut 8 during the 3rd quarter worth approximately $170,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Price Performance

Shares of NASDAQ HUT opened at $29.06 on Tuesday. The company has a 50 day moving average of $20.43 and a 200 day moving average of $15.49. 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 twelve month low of $6.18 and a twelve month high of $31.95.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HUT. Needham & Company LLC lifted their price target on Hut 8 from $21.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus boosted their target price on shares of Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a report on Wednesday, October 30th. Benchmark increased their price target on shares of Hut 8 from $17.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. HC Wainwright boosted their price objective on shares of Hut 8 from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group raised their target price on shares of Hut 8 from $22.00 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, According to data from MarketBeat, Hut 8 has an average rating of “Buy” and an average target price of $30.86.

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.