Arete Wealth Advisors LLC Acquires Shares of 19,743 Hut 8 Corp. (NASDAQ:HUT)

Arete Wealth Advisors LLC bought a new position in shares of Hut 8 Corp. (NASDAQ:HUT) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 19,743 shares of the company’s stock, valued at approximately $411,000.

A number of other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its stake in Hut 8 by 77.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock valued at $26,000 after purchasing an additional 545 shares in the last quarter. R Squared Ltd bought a new stake in shares of Hut 8 during the fourth quarter worth about $26,000. Principal Securities Inc. bought a new stake in shares of Hut 8 during the fourth quarter worth about $45,000. CIBC Private Wealth Group LLC acquired a new stake in shares of Hut 8 in the 4th quarter worth about $57,000. Finally, KBC Group NV bought a new position in Hut 8 in the 4th quarter valued at about $69,000. 31.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Keefe, Bruyette & Woods started coverage on Hut 8 in a research note on Wednesday, January 8th. They issued an “outperform” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $30.00 price target on shares of Hut 8 in a research report on Tuesday, March 4th. Benchmark cut their price objective on shares of Hut 8 from $41.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of Hut 8 in a research note on Friday, March 7th. Finally, 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. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $29.00.

Hut 8 Trading Down 4.4 %

HUT opened at $11.39 on Friday. The firm has a 50-day moving average price of $16.08 and a 200-day moving average price of $19.00. Hut 8 Corp. has a twelve month low of $6.95 and a twelve month 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.

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.