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

Headlands Technologies LLC increased its stake in Hut 8 Corp. (NASDAQ:HUT) by 13.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 86,707 shares of the company’s stock after purchasing an additional 10,209 shares during the quarter. Headlands Technologies LLC owned approximately 0.09% of Hut 8 worth $1,777,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of HUT. Franklin Resources Inc. purchased a new stake in shares of Hut 8 during the 4th quarter valued at approximately $693,000. Alliancebernstein L.P. grew its position in shares of Hut 8 by 3.0% in the fourth quarter. Alliancebernstein L.P. now owns 86,428 shares of the company’s stock valued at $1,771,000 after purchasing an additional 2,518 shares in the last quarter. CIBC Private Wealth Group LLC bought a new stake in shares of Hut 8 during the 4th quarter valued at $57,000. Arrowstreet Capital Limited Partnership bought a new position in Hut 8 in the 4th quarter worth about $23,009,000. Finally, Pictet Asset Management Holding SA purchased a new position in Hut 8 during the 4th quarter valued at about $233,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Analysts Set New Price Targets

HUT has been the subject of several recent analyst reports. Rosenblatt Securities started coverage on shares of Hut 8 in a research note on Friday, March 7th. They set a “buy” rating and a $23.00 price objective for the company. Canaccord Genuity Group reiterated a “buy” rating and issued a $32.00 price objective on shares of Hut 8 in a research report on Tuesday, March 4th. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Hut 8 in a research report on Tuesday, March 4th. Benchmark reaffirmed a “buy” rating and issued a $41.00 price target on shares of Hut 8 in a report on Tuesday, January 7th. Finally, Piper Sandler assumed coverage on Hut 8 in a report on Tuesday, December 17th. They set an “overweight” rating and a $33.00 price objective for the company. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $29.89.

Hut 8 Stock Performance

Shares of Hut 8 stock opened at $13.32 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. Hut 8 Corp. has a 52-week low of $6.95 and a 52-week high of $31.95. The company has a fifty day moving average of $16.89 and a 200-day moving average 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.