42,479 Shares in Hut 8 Corp. (NASDAQ:HUT) Bought by AM Investment Strategies LLC

AM Investment Strategies LLC bought a new position in shares of Hut 8 Corp. (NASDAQ:HUT) during the fourth quarter, HoldingsChannel.com reports. The firm bought 42,479 shares of the company’s stock, valued at approximately $597,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Golden Green Inc. bought a new position in shares of Hut 8 during the third quarter valued at $29,000. Private Advisor Group LLC raised its stake in Hut 8 by 54.7% during the third quarter. Private Advisor Group LLC now owns 18,095 shares of the company’s stock worth $35,000 after buying an additional 6,400 shares during the last quarter. QCM Cayman Ltd. bought a new position in Hut 8 during the third quarter worth $60,000. Headlands Technologies LLC bought a new position in Hut 8 during the third quarter worth $73,000. Finally, Vontobel Holding Ltd. raised its stake in Hut 8 by 274.6% during the third quarter. Vontobel Holding Ltd. now owns 50,476 shares of the company’s stock worth $99,000 after buying an additional 37,000 shares during the last quarter. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Trading Down 1.3 %

Shares of Hut 8 stock traded down $0.12 during trading on Thursday, reaching $8.86. The company’s stock had a trading volume of 1,984,912 shares, compared to its average volume of 5,115,942. The firm’s 50-day moving average is $8.68 and its two-hundred day moving average is $7.41. Hut 8 Corp. has a 52-week low of $6.18 and a 52-week high of $22.75. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.04. The company has a market cap of $790.67 million, a price-to-earnings ratio of -3.22 and a beta of 3.91.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus lifted their target price on shares of Hut 8 from $3.25 to $15.00 and gave the stock a “speculative buy” rating in a research note on Monday, January 8th. HC Wainwright lifted their target price on shares of Hut 8 from $7.00 to $9.00 and gave the stock a “sell” rating in a research note on Thursday, March 28th. Benchmark started coverage on shares of Hut 8 in a report on Monday. They issued a “buy” rating and a $12.00 price target for the company. Canaccord Genuity Group reduced their price objective on shares of Hut 8 from $17.50 to $14.00 and set a “buy” rating for the company in a report on Friday, April 5th. Finally, Craig Hallum lifted their price objective on shares of Hut 8 from $10.00 to $12.00 and gave the company a “hold” rating in a report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hut 8 has an average rating of “Moderate Buy” and a consensus target price of $12.33.

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.