Foundations Investment Advisors LLC Acquires 1,027 Shares of Hut 8 Corp. (NASDAQ:HUT)

Foundations Investment Advisors LLC lifted its holdings in Hut 8 Corp. (NASDAQ:HUT) by 2.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,755 shares of the company’s stock after acquiring an additional 1,027 shares during the period. Foundations Investment Advisors LLC’s holdings in Hut 8 were worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Hut 8 by 8,329.2% during the 1st 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. Tidal Investments LLC acquired a new position in Hut 8 during the 1st quarter worth approximately $18,191,000. Van ECK Associates Corp raised its stake in Hut 8 by 79.6% during the 1st quarter. Van ECK Associates Corp now owns 1,260,926 shares of the company’s stock worth $13,920,000 after buying an additional 558,824 shares during the period. D1 Capital Partners L.P. purchased a new stake in shares of Hut 8 in the second quarter worth approximately $17,388,000. Finally, Millennium Management LLC raised its stake in shares of Hut 8 by 46.4% in the second quarter. Millennium Management LLC now owns 649,518 shares of the company’s stock worth $9,733,000 after purchasing an additional 205,836 shares during the last quarter. 31.75% of the stock is owned by institutional investors.

Insider Transactions at Hut 8

In related news, Director Joseph Flinn sold 7,618 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $11.74, for a total value of $89,435.32. Following the sale, the director now owns 11,861 shares in the company, valued at approximately $139,248.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Shenif Visram sold 20,239 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $13.38, for a total value of $270,797.82. Following the sale, the chief financial officer now owns 43,959 shares in the company, valued at approximately $588,171.42. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Flinn sold 7,618 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $11.74, for a total value of $89,435.32. Following the sale, the director now owns 11,861 shares in the company, valued at $139,248.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 12.00% of the company’s stock.

Hut 8 Price Performance

Hut 8 stock opened at $15.31 on Friday. Hut 8 Corp. has a one year low of $6.18 and a one year high of $21.10. The business has a fifty day moving average price of $11.72 and a 200-day moving average price of $11.71. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.43.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings results on Tuesday, August 13th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.11. The company had revenue of $35.22 million during the quarter, compared to the consensus estimate of $38.00 million. As a group, equities analysts anticipate that Hut 8 Corp. will post -0.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Benchmark reissued a “buy” rating and issued a $17.00 price objective on shares of Hut 8 in a research note on Monday, October 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $22.00 target price on shares of Hut 8 in a report on Wednesday, August 21st. Craig Hallum upped their target price on Hut 8 from $14.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $13.50 target price on shares of Hut 8 in a report on Friday, September 20th. Finally, Needham & Company LLC increased their price objective on Hut 8 from $15.00 to $16.50 and gave the company a “buy” rating in a report on Tuesday, September 24th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $16.50.

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.