Hut 8 Corp. (NASDAQ:HUT) Holdings Decreased by Vontobel Holding Ltd.

Vontobel Holding Ltd. decreased its holdings in shares of Hut 8 Corp. (NASDAQ:HUT) by 74.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,995 shares of the company’s stock after selling 37,481 shares during the quarter. Vontobel Holding Ltd.’s holdings in Hut 8 were worth $173,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Golden Green Inc. purchased a new position in shares of Hut 8 during the third quarter valued at $29,000. Private Advisor Group LLC grew its stake in Hut 8 by 54.7% in the third quarter. Private Advisor Group LLC now owns 18,095 shares of the company’s stock valued at $35,000 after purchasing an additional 6,400 shares in the last quarter. QCM Cayman Ltd. purchased a new position in Hut 8 in the third quarter valued at about $60,000. Headlands Technologies LLC purchased a new position in Hut 8 in the third quarter valued at about $73,000. Finally, Mackenzie Financial Corp grew its stake in Hut 8 by 7.3% in the third quarter. Mackenzie Financial Corp now owns 91,752 shares of the company’s stock valued at $168,000 after purchasing an additional 6,225 shares in the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Stock Performance

HUT opened at $8.98 on Thursday. The company has a market cap of $801.38 million, a PE ratio of -3.27 and a beta of 3.91. The stock has a 50-day moving average of $8.70 and a 200-day moving average of $7.40. Hut 8 Corp. has a 52-week low of $6.18 and a 52-week high of $22.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 4.61 and a current ratio of 4.61.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Canaccord Genuity Group lowered their target price on Hut 8 from $17.50 to $14.00 and set a “buy” rating on the stock in a research note on Friday, April 5th. Needham & Company LLC restated a “buy” rating and issued a $12.00 target price on shares of Hut 8 in a research note on Monday, April 1st. Stifel Nicolaus boosted their target price on Hut 8 from $3.25 to $15.00 and gave the company a “speculative buy” rating in a research note on Monday, January 8th. Benchmark assumed coverage on Hut 8 in a research note on Monday. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Craig Hallum boosted their target price on Hut 8 from $10.00 to $12.00 and gave the company a “hold” rating in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.33.

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.