Amundi Invests $196,000 in Hut 8 Corp. (NASDAQ:HUT)

Amundi purchased a new position in shares of Hut 8 Corp. (NASDAQ:HUT) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,548 shares of the company’s stock, valued at approximately $196,000.

Several other hedge funds have also recently modified their holdings of the stock. Arizona State Retirement System lifted its holdings in shares of Hut 8 by 2.8% during the fourth quarter. Arizona State Retirement System now owns 23,764 shares of the company’s stock worth $487,000 after purchasing an additional 637 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hut 8 by 21.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,011,692 shares of the company’s stock worth $20,730,000 after purchasing an additional 178,527 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Hut 8 during the fourth quarter worth $128,000. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in shares of Hut 8 during the fourth quarter worth $471,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Hut 8 by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 245,240 shares of the company’s stock worth $5,025,000 after purchasing an additional 6,400 shares during the period. 31.75% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on HUT. Benchmark reaffirmed a “buy” rating and set a $41.00 price target on shares of Hut 8 in a report on Tuesday, January 7th. Keefe, Bruyette & Woods initiated coverage on Hut 8 in a report on Wednesday, January 8th. They set an “outperform” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $30.00 target price on shares of Hut 8 in a report on Tuesday, March 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 target price on shares of Hut 8 in a report on Friday, March 7th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $32.00 target price on shares of Hut 8 in a report on Tuesday, March 4th. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $29.89.

Hut 8 Stock Performance

NASDAQ:HUT opened at $12.90 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. Hut 8 Corp. has a 52-week low of $6.95 and a 52-week high of $31.95. The stock has a fifty day simple moving average of $18.69 and a 200-day simple moving average of $18.77.

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.