Hut 8 Corp. (NASDAQ:HUT) Shares Acquired by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC lifted its holdings in Hut 8 Corp. (NASDAQ:HUT) by 1.9% in the fourth quarter, HoldingsChannel reports. The firm owned 50,687 shares of the company’s stock after buying an additional 932 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Hut 8 were worth $1,039,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in HUT. Nisa Investment Advisors LLC boosted its stake in shares of Hut 8 by 77.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock valued at $26,000 after buying an additional 545 shares during the period. Capital Performance Advisors LLP purchased a new position in Hut 8 in the third quarter worth approximately $40,000. Amalgamated Bank acquired a new position in Hut 8 during the 2nd quarter worth approximately $42,000. KBC Group NV purchased a new stake in shares of Hut 8 in the 4th quarter valued at approximately $69,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Hut 8 in the 3rd quarter valued at $133,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HUT has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $35.00 target price on shares of Hut 8 in a research note on Tuesday, January 7th. Needham & Company LLC reissued a “buy” rating and set a $38.00 target price on shares of Hut 8 in a research report on Monday, January 13th. HC Wainwright upped their price target on Hut 8 from $26.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Benchmark reissued a “buy” rating and set a $41.00 price objective on shares of Hut 8 in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods started coverage on shares of Hut 8 in a report on Wednesday, January 8th. They issued an “outperform” rating for the company. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Hut 8 presently has a consensus rating of “Buy” and a consensus target price of $33.00.

Hut 8 Stock Performance

HUT stock opened at $20.11 on Thursday. Hut 8 Corp. has a 12 month low of $6.34 and a 12 month high of $31.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35. The company has a fifty day moving average price of $24.99 and a 200 day moving average price of $18.05.

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.