9,548 Shares in Hut 8 Corp. (NASDAQ:HUT) Purchased by Amundi

Amundi acquired a new position in shares of Hut 8 Corp. (NASDAQ:HUT) in the fourth quarter, HoldingsChannel reports. The firm acquired 9,548 shares of the company’s stock, valued at approximately $196,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its position in Hut 8 by 77.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock worth $26,000 after purchasing an additional 545 shares in the last quarter. R Squared Ltd purchased a new stake in Hut 8 during the 4th quarter worth about $26,000. Principal Securities Inc. purchased a new stake in Hut 8 during the 4th quarter worth about $45,000. KBC Group NV purchased a new stake in Hut 8 during the 4th quarter worth about $69,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Hut 8 during the 4th quarter worth about $128,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price objective on shares of Hut 8 in a research report on Friday, March 7th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $32.00 price objective on shares of Hut 8 in a research note on Tuesday, March 4th. Rosenblatt Securities started coverage on shares of Hut 8 in a research note on Friday, March 7th. They set a “buy” rating and a $23.00 price objective for the company. Benchmark reaffirmed a “buy” rating and set a $41.00 price objective on shares of Hut 8 in a research note on Tuesday, January 7th. Finally, HC Wainwright dropped 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 note on Tuesday, March 4th. Ten equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $29.89.

Hut 8 Trading Down 0.2 %

HUT opened at $12.90 on Friday. The firm has a 50 day moving average price of $18.69 and a 200 day moving average price of $18.77. Hut 8 Corp. has a 1 year low of $6.95 and a 1 year high of $31.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00.

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.