State Street Corp Purchases 307,292 Shares of Hut 8 Corp. (NASDAQ:HUT)

State Street Corp lifted its holdings in Hut 8 Corp. (NASDAQ:HUT) by 12.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,740,769 shares of the company’s stock after acquiring an additional 307,292 shares during the period. State Street Corp owned 3.01% of Hut 8 worth $33,602,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Piper Sandler started coverage on shares of Hut 8 in a report on Tuesday, December 17th. They issued an “overweight” rating and a $33.00 price target for the company. Stifel Nicolaus boosted their target price on Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald started coverage on Hut 8 in a research report on Monday, December 9th. They issued an “overweight” rating and a $35.00 price target for the company. HC Wainwright raised 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 upped their target price on Hut 8 from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $31.88.

Hut 8 Stock Down 0.5 %

Shares of NASDAQ HUT opened at $23.68 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $21.94 and a two-hundred day simple moving average of $16.06. Hut 8 Corp. has a twelve month low of $6.18 and a twelve month high of $31.95.

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.