O Shaughnessy Asset Management LLC Reduces Stock Holdings in Hut 8 Corp. (NASDAQ:HUT)

O Shaughnessy Asset Management LLC lessened its holdings in shares of Hut 8 Corp. (NASDAQ:HUT) by 25.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,055 shares of the company’s stock after selling 4,046 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Hut 8 were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HUT. Nisa Investment Advisors LLC raised its stake in shares of Hut 8 by 77.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock valued at $26,000 after buying an additional 545 shares during the last quarter. R Squared Ltd acquired a new stake in Hut 8 during the fourth quarter worth about $26,000. Principal Securities Inc. acquired a new stake in Hut 8 during the fourth quarter worth about $45,000. CIBC Private Wealth Group LLC purchased a new position in Hut 8 during the fourth quarter valued at approximately $57,000. Finally, KBC Group NV acquired a new position in Hut 8 in the fourth quarter valued at approximately $69,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Trading Up 3.7 %

NASDAQ HUT opened at $12.16 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s 50 day simple moving average is $14.81 and its 200-day simple moving average is $18.95. Hut 8 Corp. has a 1-year low of $6.95 and a 1-year high of $31.95.

Wall Street Analysts Forecast Growth

HUT has been the topic of a number of analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of Hut 8 in a research note on Friday, March 7th. Benchmark dropped their price target on shares of Hut 8 from $41.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. HC Wainwright decreased their price objective on shares of Hut 8 from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. UBS Group set a $33.00 target price on Hut 8 in a research report on Wednesday, April 2nd. Finally, Piper Sandler assumed coverage on Hut 8 in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $33.00 price target for the company. Ten equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $29.40.

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.