Barclays PLC Boosts Stock Holdings in Hut 8 Corp. (NASDAQ:HUT)

Barclays PLC lifted its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 29.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 124,527 shares of the company’s stock after acquiring an additional 28,532 shares during the period. Barclays PLC owned approximately 0.14% of Hut 8 worth $1,526,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in HUT. Y Intercept Hong Kong Ltd raised its position in Hut 8 by 25.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 60,492 shares of the company’s stock worth $742,000 after buying an additional 12,314 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Hut 8 in the third quarter worth approximately $162,000. State Street Corp grew its stake in shares of Hut 8 by 12.6% in the third quarter. State Street Corp now owns 2,740,769 shares of the company’s stock worth $33,602,000 after acquiring an additional 307,292 shares during the period. Centiva Capital LP purchased a new position in shares of Hut 8 during the third quarter valued at approximately $1,382,000. Finally, Clearline Capital LP boosted its holdings in Hut 8 by 966.7% in the third quarter. Clearline Capital LP now owns 199,576 shares of the company’s stock worth $2,447,000 after purchasing an additional 180,867 shares during the last quarter. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HUT. 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 note on Thursday, November 14th. Cantor Fitzgerald assumed coverage on Hut 8 in a report on Monday, December 9th. They issued an “overweight” rating and a $35.00 target price on the stock. Piper Sandler assumed coverage on Hut 8 in a research note on Tuesday, December 17th. They set an “overweight” rating and a $33.00 price target for the company. Stifel Nicolaus upped their price target on shares of Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a research report on Wednesday, October 30th. Finally, 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 report on Thursday, November 14th. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Hut 8 currently has a consensus rating of “Buy” and an average target price of $31.88.

Hut 8 Stock Down 6.6 %

HUT stock opened at $22.32 on Friday. The business’s 50-day moving average price is $22.99 and its 200-day moving average price is $16.52. Hut 8 Corp. has a twelve month low of $6.18 and a twelve month high of $31.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35.

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.