Blueshift Asset Management LLC Makes New Investment in Hut 8 Mining Corp. (NASDAQ:HUT)

Blueshift Asset Management LLC bought a new position in shares of Hut 8 Mining Corp. (NASDAQ:HUTGet Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,138 shares of the company’s stock, valued at approximately $100,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pictet Asset Management SA bought a new stake in Hut 8 Mining during the 4th quarter worth approximately $96,000. Swiss National Bank purchased a new stake in Hut 8 Mining during the 4th quarter valued at approximately $2,697,000. Public Sector Pension Investment Board purchased a new stake in Hut 8 Mining during the 4th quarter valued at approximately $2,881,000. Shell Asset Management Co. purchased a new stake in Hut 8 Mining during the 4th quarter valued at approximately $138,000. Finally, Bayesian Capital Management LP purchased a new stake in Hut 8 Mining during the 4th quarter valued at approximately $92,000. Institutional investors own 12.40% of the company’s stock.

Hut 8 Mining Trading Down 2.6 %

HUT stock opened at $1.91 on Friday. The firm has a fifty day moving average price of $2.06 and a 200 day moving average price of $3.40. Hut 8 Mining Corp. has a fifty-two week low of $1.27 and a fifty-two week high of $16.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 10.61 and a current ratio of 10.61. The firm has a market cap of $371.29 million, a PE ratio of -3.41 and a beta of 4.64.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HUT. Canaccord Genuity Group cut their price objective on shares of Hut 8 Mining from $12.00 to $6.00 and set a “buy” rating for the company in a report on Friday, May 13th. DA Davidson lowered shares of Hut 8 Mining from a “buy” rating to a “neutral” rating in a report on Wednesday, August 17th. Finally, HC Wainwright cut their price objective on shares of Hut 8 Mining from $19.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, May 19th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $10.75.

Hut 8 Mining Profile

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Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America. The company engages in industrial scale bitcoin mining operations. It also owns and operates 38 BlockBoxes in Drumheller, Alberta; and 51 BlockBoxes in Medicine Hat, Alberta. Hut 8 Mining Corp. was incorporated in 2011 and is headquartered in Toronto, Canada.

See Also

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Institutional Ownership by Quarter for Hut 8 Mining (NASDAQ:HUT)

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