Centiva Capital LP Makes New $1.38 Million Investment in Hut 8 Corp. (NASDAQ:HUT)

Centiva Capital LP acquired a new position in shares of Hut 8 Corp. (NASDAQ:HUT) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 112,703 shares of the company’s stock, valued at approximately $1,382,000. Centiva Capital LP owned 0.12% of Hut 8 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HUT. Vanguard Group Inc. lifted its stake in shares of Hut 8 by 8,329.2% during the first quarter. Vanguard Group Inc. now owns 2,787,102 shares of the company’s stock worth $30,770,000 after buying an additional 2,754,037 shares during the period. JAT Capital Mgmt LP acquired a new position in Hut 8 during the third quarter valued at $32,260,000. D1 Capital Partners L.P. acquired a new position in Hut 8 during the second quarter valued at $17,388,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Hut 8 during the third quarter valued at $9,997,000. Finally, Bank of New York Mellon Corp acquired a new position in Hut 8 during the second quarter valued at $4,390,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a research report on Wednesday, October 30th. Craig Hallum upped their price objective on shares of Hut 8 from $15.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Canaccord Genuity Group upped their price objective on shares of Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Benchmark upped their price objective 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, HC Wainwright upped their price objective on shares of Hut 8 from $26.00 to $35.00 and gave the stock 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, the company has a consensus rating of “Buy” and an average price target of $30.17.

Hut 8 Stock Performance

HUT stock opened at $27.03 on Thursday. The firm has a 50-day simple moving average of $18.29 and a 200-day simple moving average of $14.57. 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 Corp. has a 52 week low of $6.18 and a 52 week high of $30.17.

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.