SBI Securities Co. Ltd. Invests $128,000 in Hut 8 Corp. (NASDAQ:HUT)

SBI Securities Co. Ltd. purchased a new position in shares of Hut 8 Corp. (NASDAQ:HUT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,240 shares of the company’s stock, valued at approximately $128,000.

A number of other hedge funds also recently modified their holdings of the business. State Street Corp raised its position in shares of Hut 8 by 12.6% during the third quarter. State Street Corp now owns 2,740,769 shares of the company’s stock worth $33,602,000 after purchasing an additional 307,292 shares during the period. JAT Capital Mgmt LP acquired a new stake in shares of Hut 8 during the third quarter worth about $32,260,000. Geode Capital Management LLC raised its position in shares of Hut 8 by 21.1% during the third quarter. Geode Capital Management LLC now owns 2,193,900 shares of the company’s stock worth $26,902,000 after purchasing an additional 381,720 shares during the period. Charles Schwab Investment Management Inc. raised its position in 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 last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Hut 8 in the 3rd quarter valued at approximately $9,997,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Stock Up 0.7 %

HUT stock opened at $13.51 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. The business has a 50 day moving average price of $20.82 and a two-hundred day moving average price of $18.69. Hut 8 Corp. has a twelve month low of $6.77 and a twelve month high of $31.95.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HUT shares. Craig Hallum lifted their target price on Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 target price on shares of Hut 8 in a research report on Friday. Benchmark reissued a “buy” rating and issued a $41.00 target price on shares of Hut 8 in a research report on Tuesday, January 7th. Rosenblatt Securities started coverage on Hut 8 in a research report on Friday. They issued a “buy” rating and a $23.00 target price on the stock. Finally, Piper Sandler started coverage on Hut 8 in a research report on Tuesday, December 17th. They issued an “overweight” rating and a $33.00 target price on the stock. Ten equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $29.89.

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.