UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 26,428 Shares of Hut 8 Corp. (NASDAQ:HUT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 16.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,756 shares of the company’s stock after selling 26,428 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Hut 8 were worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Hut 8 during the third quarter valued at approximately $9,997,000. MetLife Investment Management LLC lifted its position in Hut 8 by 129.1% during the third quarter. MetLife Investment Management LLC now owns 46,719 shares of the company’s stock valued at $573,000 after purchasing an additional 26,324 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in Hut 8 during the second quarter valued at about $17,388,000. Charles Schwab Investment Management Inc. increased its position in Hut 8 by 31.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 833,165 shares of the company’s stock worth $10,215,000 after buying an additional 197,074 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Hut 8 by 46.4% during the 2nd quarter. Millennium Management LLC now owns 649,518 shares of the company’s stock valued at $9,733,000 after buying an additional 205,836 shares in the last quarter. 31.75% of the stock is owned by institutional investors.

Hut 8 Stock Performance

Shares of Hut 8 stock opened at $29.06 on Tuesday. The business has a 50-day moving average price of $20.43 and a 200-day moving average price of $15.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. Hut 8 Corp. has a twelve month low of $6.18 and a twelve month high of $31.95.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus increased their target price 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 shares of Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald initiated coverage on shares of Hut 8 in a research note on Monday, December 9th. They set an “overweight” rating and a $35.00 target price on the stock. Needham & Company LLC increased their price target on Hut 8 from $21.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, HC Wainwright boosted their price objective on Hut 8 from $26.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $30.86.

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.