Blueshift Asset Management LLC Acquires New Holdings in Hut 8 Corp. (NASDAQ:HUT)

Blueshift Asset Management LLC bought a new position in shares of Hut 8 Corp. (NASDAQ:HUT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 20,496 shares of the company’s stock, valued at approximately $251,000.

Several other institutional investors also recently modified their holdings of HUT. Vanguard Group Inc. raised its position in Hut 8 by 8,329.2% during the 1st quarter. Vanguard Group Inc. now owns 2,787,102 shares of the company’s stock worth $30,770,000 after purchasing an additional 2,754,037 shares during the last quarter. Westend Capital Management LLC grew its stake in Hut 8 by 1.7% in the second quarter. Westend Capital Management LLC now owns 477,961 shares of the company’s stock valued at $7,289,000 after acquiring an additional 7,827 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Hut 8 during the second quarter valued at approximately $4,390,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Hut 8 by 27.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,223 shares of the company’s stock worth $213,000 after purchasing an additional 3,105 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Hut 8 by 684,077.8% in the 2nd quarter. Rhumbline Advisers now owns 123,152 shares of the company’s stock worth $1,846,000 after purchasing an additional 123,134 shares in the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HUT has been the topic of several research reports. Stifel Nicolaus upped their price objective on shares of Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a report on Wednesday, October 30th. Benchmark boosted their price objective on Hut 8 from $17.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Craig Hallum raised their target price on Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC lifted their target price on Hut 8 from $21.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, HC Wainwright increased their price target on Hut 8 from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Hut 8 presently has a consensus rating of “Buy” and an average target price of $30.17.

Hut 8 Price Performance

Shares of HUT opened at $28.45 on Friday. The stock has a 50 day moving average of $17.13 and a 200 day moving average of $14.03. Hut 8 Corp. has a 12 month low of $6.18 and a 12 month high of $28.78. 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 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.