13,890 Shares in Hut 8 Corp. (NASDAQ:HUT) Acquired by Entropy Technologies LP

Entropy Technologies LP bought a new position in shares of Hut 8 Corp. (NASDAQ:HUT) in the third quarter, Holdings Channel reports. The fund bought 13,890 shares of the company’s stock, valued at approximately $170,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP acquired a new position in Hut 8 in the 3rd quarter worth approximately $40,000. Amalgamated Bank acquired a new position in Hut 8 during the second quarter valued at $42,000. Victory Capital Management Inc. purchased a new stake in Hut 8 in the 2nd quarter worth about $154,000. Dimensional Fund Advisors LP acquired a new stake in Hut 8 during the 2nd quarter worth about $200,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Hut 8 by 27.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,223 shares of the company’s stock valued at $213,000 after acquiring an additional 3,105 shares in the last quarter. Institutional investors and hedge funds own 31.75% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Stifel Nicolaus raised their price target on shares of Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a report on Wednesday, October 30th. Canaccord Genuity Group increased their price objective on Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday. Craig Hallum boosted their target price on Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday. HC Wainwright raised their price target on Hut 8 from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Needham & Company LLC boosted their price target on Hut 8 from $21.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $30.17.

Hut 8 Stock Performance

NASDAQ:HUT opened at $25.26 on Monday. The company’s 50 day moving average is $14.47 and its 200-day moving average is $12.97. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.68. Hut 8 Corp. has a 12 month low of $6.18 and a 12 month high of $28.47.

About Hut 8

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.