Central Asset Investments & Management Holdings HK Ltd Acquires Shares of 23,000 Hut 8 Corp. (NASDAQ:HUT)

Central Asset Investments & Management Holdings HK Ltd bought a new position in Hut 8 Corp. (NASDAQ:HUT) during the fourth quarter, Holdings Channel.com reports. The firm bought 23,000 shares of the company’s stock, valued at approximately $471,000.

Several other institutional investors also recently modified their holdings of the business. Nisa Investment Advisors LLC increased its holdings in Hut 8 by 77.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock worth $26,000 after buying an additional 545 shares during the last quarter. R Squared Ltd bought a new position in shares of Hut 8 during the 4th quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new stake in shares of Hut 8 during the 3rd quarter worth approximately $40,000. Principal Securities Inc. bought a new stake in shares of Hut 8 in the 4th quarter worth approximately $45,000. Finally, KBC Group NV purchased a new position in Hut 8 in the fourth quarter valued at approximately $69,000. 31.75% of the stock is owned by institutional investors.

Hut 8 Stock Up 0.5 %

Shares of Hut 8 stock opened at $14.94 on Thursday. The company’s 50-day moving average price is $22.34 and its 200-day moving average price is $18.63. 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 12-month low of $6.77 and a 12-month high of $31.95.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HUT. Keefe, Bruyette & Woods initiated coverage on Hut 8 in a research report on Wednesday, January 8th. They issued an “outperform” rating for the company. Canaccord Genuity Group lifted their price objective on Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 price objective on shares of Hut 8 in a report on Tuesday, January 7th. Piper Sandler started coverage on shares of Hut 8 in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $33.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $38.00 price target on shares of Hut 8 in a research note on Monday, January 13th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $33.00.

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.