Central Asset Investments & Management Holdings HK Ltd Takes Position in Hut 8 Corp. (NASDAQ:HUT)

Central Asset Investments & Management Holdings HK Ltd bought a new position in shares of Hut 8 Corp. (NASDAQ:HUT) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 23,000 shares of the company’s stock, valued at approximately $471,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in Hut 8 by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 245,240 shares of the company’s stock worth $5,025,000 after purchasing an additional 6,400 shares in the last quarter. Sigma Planning Corp acquired a new stake in shares of Hut 8 during the 4th quarter worth approximately $451,000. Global Retirement Partners LLC increased its stake in shares of Hut 8 by 80.3% in the 4th quarter. Global Retirement Partners LLC now owns 9,428 shares of the company’s stock valued at $193,000 after acquiring an additional 4,200 shares in the last quarter. New York State Common Retirement Fund lifted its position in shares of Hut 8 by 5.6% during the 4th quarter. New York State Common Retirement Fund now owns 27,140 shares of the company’s stock valued at $556,000 after acquiring an additional 1,440 shares during the period. Finally, Principal Securities Inc. bought a new position in Hut 8 during the fourth quarter worth $45,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Stock Performance

HUT stock opened at $14.94 on Thursday. 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 $6.77 and a twelve month high of $31.95. The stock’s 50 day moving average is $22.34 and its 200-day moving average is $18.63.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HUT. Benchmark reaffirmed a “buy” rating and issued a $41.00 price target on shares of Hut 8 in a research note on Tuesday, January 7th. Stifel Nicolaus boosted their target price on Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $35.00 price target on shares of Hut 8 in a research note on Tuesday, January 7th. Piper Sandler initiated coverage on Hut 8 in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $33.00 price objective for the company. Finally, Canaccord Genuity Group upped their target price on Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $33.00.

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.