Paloma Partners Management Co Takes Position in Hut 8 Corp. (NASDAQ:HUT)

Paloma Partners Management Co bought a new position in shares of Hut 8 Corp. (NASDAQ:HUT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 67,994 shares of the company’s stock, valued at approximately $834,000.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Hut 8 by 8,329.2% during the first quarter. Vanguard Group Inc. now owns 2,787,102 shares of the company’s stock worth $30,770,000 after purchasing an additional 2,754,037 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Hut 8 in the 2nd quarter worth approximately $4,390,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Hut 8 by 27.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,223 shares of the company’s stock valued at $213,000 after acquiring an additional 3,105 shares during the period. Rhumbline Advisers boosted its stake in Hut 8 by 684,077.8% during the 2nd quarter. Rhumbline Advisers now owns 123,152 shares of the company’s stock valued at $1,846,000 after purchasing an additional 123,134 shares during the period. Finally, Foundations Investment Advisors LLC grew its position in Hut 8 by 2.0% in the 2nd quarter. Foundations Investment Advisors LLC now owns 48,728 shares of the company’s stock worth $730,000 after purchasing an additional 949 shares during the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Price Performance

NASDAQ:HUT opened at $25.93 on Tuesday. Hut 8 Corp. has a 52-week low of $6.18 and a 52-week high of $30.17. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average price is $17.75 and its 200 day moving average price is $14.37.

Analyst Ratings Changes

HUT has been the topic of a number of recent analyst reports. Craig Hallum lifted their price target on Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Canaccord Genuity Group increased their price target on Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus raised their price target on Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a report on Wednesday, October 30th. Benchmark upped their price objective on shares of Hut 8 from $17.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC raised their target price on shares of Hut 8 from $21.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $30.17.

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.