Nisa Investment Advisors LLC Boosts Stake in Hut 8 Corp. (NASDAQ:HUT)

Nisa Investment Advisors LLC lifted its holdings in Hut 8 Corp. (NASDAQ:HUT) by 77.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,245 shares of the company’s stock after buying an additional 545 shares during the period. Nisa Investment Advisors LLC’s holdings in Hut 8 were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HUT. Capital Performance Advisors LLP bought a new stake in Hut 8 during the third quarter worth $40,000. Intech Investment Management LLC bought a new stake in shares of Hut 8 during the 3rd quarter worth $133,000. XTX Topco Ltd purchased a new position in shares of Hut 8 in the 3rd quarter worth about $162,000. Entropy Technologies LP bought a new position in Hut 8 during the third quarter valued at about $170,000. Finally, Dimensional Fund Advisors LP bought a new position in Hut 8 during the second quarter valued at about $200,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Trading Up 0.9 %

HUT stock opened at $21.69 on Friday. The stock has a 50-day simple moving average of $24.87 and a two-hundred day simple moving average of $18.09. Hut 8 Corp. has a twelve month low of $6.34 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.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Hut 8 in a research note on Monday, January 13th. Keefe, Bruyette & Woods started coverage on Hut 8 in a research note on Wednesday, January 8th. They issued an “outperform” rating on the stock. Canaccord Genuity Group raised their target price on Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 price target on shares of Hut 8 in a research report on Tuesday, January 7th. Finally, Piper Sandler initiated coverage on Hut 8 in a report on Tuesday, December 17th. They issued an “overweight” rating and a $33.00 price objective for the company. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $33.00.

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.