Hut 8 Corp. (NASDAQ:HUT) Shares Acquired by Clearline Capital LP

Clearline Capital LP raised its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 966.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 199,576 shares of the company’s stock after buying an additional 180,867 shares during the quarter. Clearline Capital LP owned about 0.22% of Hut 8 worth $2,447,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Hut 8 by 8,329.2% during the 1st quarter. Vanguard Group Inc. now owns 2,787,102 shares of the company’s stock valued at $30,770,000 after acquiring an additional 2,754,037 shares in the last quarter. JAT Capital Mgmt LP acquired a new stake in shares of Hut 8 during the third quarter worth $32,260,000. D1 Capital Partners L.P. bought a new position in shares of Hut 8 in the 2nd quarter worth about $17,388,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Hut 8 by 31.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 833,165 shares of the company’s stock valued at $10,215,000 after buying an additional 197,074 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Hut 8 during the 3rd quarter valued at about $9,997,000. Institutional investors own 31.75% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on HUT shares. Craig Hallum raised their target price on shares of Hut 8 from $15.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. HC Wainwright upped their price objective on Hut 8 from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus raised their target price on Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a research note on Wednesday, October 30th. Benchmark upped their price target on shares of Hut 8 from $17.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Canaccord Genuity Group lifted their price objective on shares of Hut 8 from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $30.17.

Hut 8 Stock Down 1.5 %

Shares of HUT opened at $28.02 on Monday. The stock’s fifty day moving average is $17.46 and its 200-day moving average is $14.25. Hut 8 Corp. has a one year low of $6.18 and a one year high of $30.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00.

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.