MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Lowers Holdings in Hut 8 Corp. (NASDAQ:HUT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in Hut 8 Corp. (NASDAQ:HUT) by 9.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 633,257 shares of the company’s stock after selling 68,330 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.68% of Hut 8 worth $12,965,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in shares of Hut 8 by 77.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock worth $26,000 after purchasing an additional 545 shares in the last quarter. GoalVest Advisory LLC bought a new stake in Hut 8 during the fourth quarter valued at approximately $330,000. KBC Group NV purchased a new position in Hut 8 in the 4th quarter worth approximately $69,000. Foundations Investment Advisors LLC increased its holdings in shares of Hut 8 by 1.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 50,687 shares of the company’s stock worth $1,039,000 after buying an additional 932 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Hut 8 during the 4th quarter valued at $26,000. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Hut 8 news, insider Victor Semah sold 11,363 shares of the company’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $12.95, for a total value of $147,150.85. Following the completion of the transaction, the insider now directly owns 15,738 shares in the company, valued at approximately $203,807.10. This represents a 41.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.20% of the company’s stock.

Hut 8 Trading Down 3.4%

Shares of HUT opened at $15.58 on Friday. Hut 8 Corp. has a twelve month low of $8.53 and a twelve month high of $31.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a fifty day simple moving average of $12.70 and a two-hundred day simple moving average of $18.92.

Hut 8 (NASDAQ:HUT) last posted its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.06). The firm had revenue of $20.88 million for the quarter, compared to the consensus estimate of $33.68 million. As a group, equities analysts predict that Hut 8 Corp. will post -0.53 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HUT has been the subject of several research reports. Northland Capmk upgraded shares of Hut 8 to a “strong-buy” rating in a research report on Monday, April 21st. UBS Group set a $33.00 price target on Hut 8 in a research note on Wednesday, April 2nd. B. Riley started coverage on Hut 8 in a research report on Wednesday. They set a “buy” rating and a $25.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and set a $21.00 price objective on shares of Hut 8 in a report on Friday, May 9th. Finally, HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Hut 8 in a research report on Friday, May 9th. Thirteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Hut 8 presently has a consensus rating of “Buy” and a consensus price target of $25.93.

Hut 8 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.