Hut 8 Corp. (NASDAQ:HUT) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp increased its stake in Hut 8 Corp. (NASDAQ:HUT) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 245,240 shares of the company’s stock after acquiring an additional 6,400 shares during the period. Bank of New York Mellon Corp’s holdings in Hut 8 were worth $5,025,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HUT. Entropy Technologies LP purchased a new position in Hut 8 in the third quarter worth approximately $170,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Hut 8 in the 3rd quarter valued at $9,997,000. Intech Investment Management LLC purchased a new stake in shares of Hut 8 during the 3rd quarter worth $133,000. Charles Schwab Investment Management Inc. grew its stake in shares of Hut 8 by 31.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 833,165 shares of the company’s stock worth $10,215,000 after purchasing an additional 197,074 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Hut 8 by 24.6% in the third quarter. BNP Paribas Financial Markets now owns 18,520 shares of the company’s stock valued at $227,000 after buying an additional 3,653 shares during the last quarter. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Hut 8 Stock Up 2.6 %

Shares of HUT opened at $12.95 on Tuesday. The company’s 50 day simple moving average is $19.58 and its 200-day simple moving average is $18.82. Hut 8 Corp. has a 12-month low of $6.95 and a 12-month high of $31.95. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00.

Analyst Ratings Changes

A number of brokerages have issued reports on HUT. HC Wainwright decreased their price target on Hut 8 from $35.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Rosenblatt Securities assumed coverage on Hut 8 in a research note on Friday, March 7th. They set a “buy” rating and a $23.00 target price for the company. Piper Sandler started coverage on shares of Hut 8 in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $33.00 price target on the stock. Canaccord Genuity Group restated a “buy” rating and set a $32.00 price objective on shares of Hut 8 in a research report on Tuesday, March 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of Hut 8 in a research report on Friday, March 7th. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Hut 8 presently has a consensus rating of “Buy” and an average target price of $29.89.

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.