Hut 8 Corp. (NASDAQ:HUT) Shares Sold by Hel Ved Capital Management Ltd

Hel Ved Capital Management Ltd reduced its stake in shares of Hut 8 Corp. (NASDAQ:HUT) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 192,910 shares of the company’s stock after selling 11,290 shares during the period. Hut 8 makes up approximately 1.2% of Hel Ved Capital Management Ltd’s investment portfolio, making the stock its 26th biggest holding. Hel Ved Capital Management Ltd owned 0.21% of Hut 8 worth $3,953,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Intech Investment Management LLC purchased a new stake in Hut 8 in the third quarter valued at approximately $133,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Hut 8 by 31.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 833,165 shares of the company’s stock valued at $10,215,000 after acquiring an additional 197,074 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Hut 8 by 24.6% in the third quarter. BNP Paribas Financial Markets now owns 18,520 shares of the company’s stock worth $227,000 after acquiring an additional 3,653 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Hut 8 by 129.1% during the third quarter. MetLife Investment Management LLC now owns 46,719 shares of the company’s stock worth $573,000 after purchasing an additional 26,324 shares during the last quarter. Finally, State Street Corp lifted its position in Hut 8 by 12.6% during the third quarter. State Street Corp now owns 2,740,769 shares of the company’s stock valued at $33,602,000 after purchasing an additional 307,292 shares during the period. 31.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HUT has been the subject of a number of recent research reports. Canaccord Genuity Group reiterated a “buy” rating and set a $32.00 price objective on shares of Hut 8 in a research note on Tuesday, March 4th. Benchmark reduced their price target on Hut 8 from $41.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday. Keefe, Bruyette & Woods initiated coverage on Hut 8 in a research report on Wednesday, January 8th. They issued an “outperform” rating on the stock. Piper Sandler initiated coverage on shares of Hut 8 in a report on Tuesday, December 17th. They set an “overweight” rating and a $33.00 target price for the company. Finally, HC Wainwright lowered their price target on shares of Hut 8 from $35.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat, Hut 8 has an average rating of “Buy” and a consensus price target of $29.00.

Hut 8 Stock Performance

HUT stock opened at $11.39 on Friday. 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 current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50-day simple moving average of $16.08 and a 200-day simple moving average of $18.95.

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.