1,123,804 Shares in Hut 8 Corp. (NASDAQ:HUT) Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership bought a new stake in shares of Hut 8 Corp. (NASDAQ:HUT) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,123,804 shares of the company’s stock, valued at approximately $23,009,000.

A number of other large investors also recently made changes to their positions in HUT. Nisa Investment Advisors LLC raised 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 acquiring an additional 545 shares in the last quarter. Arizona State Retirement System increased its position in Hut 8 by 2.8% in the 4th 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 last quarter. Foundations Investment Advisors LLC raised its stake in shares of Hut 8 by 1.9% during the 4th quarter. Foundations Investment Advisors LLC now owns 50,687 shares of the company’s stock worth $1,039,000 after purchasing an additional 932 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Hut 8 during the 4th quarter worth about $26,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Hut 8 by 5.6% during the 4th quarter. New York State Common Retirement Fund now owns 27,140 shares of the company’s stock valued at $556,000 after buying an additional 1,440 shares during the last quarter. Institutional investors and hedge funds own 31.75% of the company’s stock.

Wall Street Analysts Forecast Growth

HUT has been the topic of a number of research reports. Rosenblatt Securities began coverage on Hut 8 in a report on Friday, March 7th. They issued a “buy” rating and a $23.00 price objective on the stock. Piper Sandler assumed coverage on shares of Hut 8 in a research note on Tuesday, December 17th. They set an “overweight” rating and a $33.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Hut 8 in a research note on Tuesday, March 4th. Canaccord Genuity Group reissued a “buy” rating and set a $32.00 target price on shares of Hut 8 in a research report on Tuesday, March 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Hut 8 in a research report on Friday, March 7th. Ten investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $29.00.

Hut 8 Stock Down 11.1 %

HUT stock opened at $11.91 on Friday. The company has a 50-day moving average of $16.37 and a two-hundred day moving average of $18.94. Hut 8 Corp. has a 52-week low of $6.95 and a 52-week high of $31.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00.

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.