Headlands Technologies LLC Raises Stock Holdings in Hut 8 Corp. (NASDAQ:HUT)

Headlands Technologies LLC raised its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 13.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 86,707 shares of the company’s stock after purchasing an additional 10,209 shares during the quarter. Headlands Technologies LLC’s holdings in Hut 8 were worth $1,777,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Hut 8 by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 6,459,385 shares of the company’s stock valued at $132,352,000 after acquiring an additional 245,113 shares in the last quarter. State Street Corp lifted its position in shares of Hut 8 by 12.6% in the 3rd 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. Geode Capital Management LLC lifted its position in shares of Hut 8 by 21.1% in the 3rd 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. BIT Capital GmbH boosted its stake in shares of Hut 8 by 11.5% during the 4th quarter. BIT Capital GmbH now owns 1,818,456 shares of the company’s stock valued at $37,260,000 after purchasing an additional 187,773 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Hut 8 during the fourth quarter valued at about $23,009,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Wall Street Analysts Forecast Growth

HUT has been the topic of several research reports. Keefe, Bruyette & Woods started coverage on Hut 8 in a research report on Wednesday, January 8th. They set an “outperform” rating on the stock. Rosenblatt Securities began coverage on Hut 8 in a research report on Friday, March 7th. They set a “buy” rating and a $23.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of Hut 8 in a report on Friday, March 7th. HC Wainwright lowered their price objective on Hut 8 from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $32.00 price target on shares of Hut 8 in a research note on Tuesday, March 4th. Ten analysts have rated the stock with a buy rating, According to MarketBeat, Hut 8 presently has a consensus rating of “Buy” and an average target price of $29.89.

Hut 8 Price Performance

HUT opened at $13.32 on Wednesday. Hut 8 Corp. has a twelve month low of $6.95 and a twelve month high of $31.95. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50 day moving average price of $16.89 and a 200-day moving average price of $19.03.

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.