Wellington Management Group LLP Sells 1,570 Shares of Hut 8 Corp. (NASDAQ:HUT)

Wellington Management Group LLP trimmed its stake in shares of Hut 8 Corp. (NASDAQ:HUT) by 11.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,790 shares of the company’s stock after selling 1,570 shares during the quarter. Wellington Management Group LLP’s holdings in Hut 8 were worth $145,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. State Street Corp boosted its stake in shares of Hut 8 by 12.6% in the 3rd quarter. State Street Corp now owns 2,740,769 shares of the company’s stock valued at $33,602,000 after purchasing an additional 307,292 shares in the last quarter. Centiva Capital LP bought a new position in Hut 8 during the 3rd quarter valued at about $1,382,000. Clearline Capital LP lifted its holdings in Hut 8 by 966.7% during the 3rd quarter. Clearline Capital LP now owns 199,576 shares of the company’s stock valued at $2,447,000 after purchasing an additional 180,867 shares during the last quarter. Paloma Partners Management Co acquired a new position in Hut 8 in the third quarter valued at about $834,000. Finally, JAT Capital Mgmt LP bought a new stake in Hut 8 during the third quarter worth about $32,260,000. 31.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HUT has been the subject of a number of research analyst reports. Craig Hallum lifted their target price on shares of Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Piper Sandler started coverage on Hut 8 in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $33.00 price objective for the company. Stifel Nicolaus boosted their price objective on Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised 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. Finally, Benchmark lifted their price target on Hut 8 from $17.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, Hut 8 has an average rating of “Buy” and a consensus target price of $31.88.

Hut 8 Stock Down 0.5 %

Shares of HUT opened at $23.68 on Friday. The business’s fifty day moving average price is $21.94 and its two-hundred day moving average price is $16.06. Hut 8 Corp. has a 52 week low of $6.18 and a 52 week high of $31.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35.

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.