Hut 8 Corp. (NASDAQ:HUT) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp decreased its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 68.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 702,102 shares of the company’s stock after selling 1,496,369 shares during the quarter. Van ECK Associates Corp owned 1.58% of Hut 8 worth $9,366,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. AM Investment Strategies LLC acquired a new stake in Hut 8 during the fourth quarter valued at $597,000. Savior LLC purchased a new position in shares of Hut 8 in the 4th quarter valued at about $1,543,000. Wellington Management Group LLP increased its stake in shares of Hut 8 by 203.4% in the 3rd quarter. Wellington Management Group LLP now owns 1,125,958 shares of the company’s stock valued at $2,224,000 after purchasing an additional 754,891 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in Hut 8 in the 3rd quarter worth about $3,429,000. Finally, Headlands Technologies LLC purchased a new position in Hut 8 during the third quarter worth approximately $73,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Craig Hallum raised their target price on Hut 8 from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Monday, April 1st. HC Wainwright lifted their price target on shares of Hut 8 from $7.00 to $9.00 and gave the company a “sell” rating in a research report on Thursday, March 28th. Canaccord Genuity Group lowered their price objective on Hut 8 from $17.50 to $14.00 and set a “buy” rating for the company in a research report on Friday, April 5th. Benchmark began coverage on Hut 8 in a research report on Monday, April 22nd. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Stifel Nicolaus upped their price target on Hut 8 from $3.25 to $15.00 and gave the company a “speculative buy” rating in a research note on Monday, January 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.33.

Hut 8 Trading Up 2.1 %

Hut 8 stock opened at $8.16 on Friday. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average price of $8.57 and a 200 day moving average price of $7.63. Hut 8 Corp. has a fifty-two week low of $6.18 and a fifty-two week high of $22.75.

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.