Pictet Asset Management Holding SA Takes $233,000 Position in Hut 8 Corp. (NASDAQ:HUT)

Pictet Asset Management Holding SA acquired a new position in Hut 8 Corp. (NASDAQ:HUT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,357 shares of the company’s stock, valued at approximately $233,000.

Several other large investors have also bought and sold shares of HUT. Vanguard Group Inc. lifted its stake in shares of Hut 8 by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 6,459,385 shares of the company’s stock valued at $132,352,000 after purchasing an additional 245,113 shares during the period. 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 buying an additional 307,292 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Hut 8 by 21.1% during the 3rd quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company’s stock valued at $26,902,000 after buying an additional 381,720 shares in the last quarter. BIT Capital GmbH grew its position in shares of Hut 8 by 11.5% in the 4th quarter. BIT Capital GmbH now owns 1,818,456 shares of the company’s stock worth $37,260,000 after buying an additional 187,773 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Hut 8 by 21.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,011,692 shares of the company’s stock worth $20,730,000 after acquiring an additional 178,527 shares in the last quarter. 31.75% of the stock is owned by institutional investors.

Hut 8 Stock Down 6.8 %

Shares of NASDAQ:HUT opened at $11.73 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. Hut 8 Corp. has a 1 year low of $6.95 and a 1 year high of $31.95. The stock’s fifty day moving average price is $15.00 and its 200-day moving average price is $18.96.

Analyst Upgrades and Downgrades

HUT has been the topic of several research reports. Keefe, Bruyette & Woods assumed coverage on shares of Hut 8 in a research note on Wednesday, January 8th. They set an “outperform” rating on the stock. Benchmark dropped their price target on Hut 8 from $41.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. UBS Group set a $33.00 price objective on Hut 8 in a research report on Wednesday, April 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 target price on shares of Hut 8 in a report on Friday, March 7th. Finally, Rosenblatt Securities started coverage on Hut 8 in a report on Friday, March 7th. They set a “buy” rating and a $23.00 price target for the company. Ten research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Hut 8 presently has an average rating of “Buy” and an average target price of $29.40.

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.