Hut 8 Corp. (NASDAQ:HUT) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in Hut 8 Corp. (NASDAQ:HUT) by 21.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,011,692 shares of the company’s stock after acquiring an additional 178,527 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.08% of Hut 8 worth $20,730,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in shares of Hut 8 by 77.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock worth $26,000 after acquiring an additional 545 shares during the period. R Squared Ltd purchased a new position in Hut 8 in the fourth quarter valued at $26,000. Principal Securities Inc. purchased a new position in Hut 8 in the fourth quarter valued at $45,000. KBC Group NV purchased a new position in Hut 8 in the fourth quarter valued at $69,000. Finally, SBI Securities Co. Ltd. purchased a new position in Hut 8 in the fourth quarter valued at $128,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Hut 8 in a report on Tuesday, March 4th. HC Wainwright cut their price objective 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. Benchmark reaffirmed a “buy” rating and issued a $41.00 price objective on shares of Hut 8 in a report on Tuesday, January 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of Hut 8 in a report on Friday, March 7th. Finally, Rosenblatt Securities began coverage on shares of Hut 8 in a report on Friday, March 7th. They issued a “buy” rating and a $23.00 price objective for the company. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $29.89.

Hut 8 Stock Performance

HUT stock opened at $12.93 on Thursday. The firm has a 50-day simple moving average of $19.11 and a 200-day simple moving average of $18.79. 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 52 week low of $6.95 and a 52 week high of $31.95.

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.