D1 Capital Partners L.P. Sells 248,000 Shares of Hut 8 Corp. (NASDAQ:HUT)

D1 Capital Partners L.P. decreased its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 21.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 912,000 shares of the company’s stock after selling 248,000 shares during the period. D1 Capital Partners L.P. owned about 1.00% of Hut 8 worth $11,181,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Amalgamated Bank acquired a new stake in shares of Hut 8 in the second quarter valued at approximately $42,000. Capital Performance Advisors LLP bought a new position in Hut 8 in the third quarter valued at approximately $40,000. Victory Capital Management Inc. bought a new position in Hut 8 in the second quarter valued at approximately $154,000. Intech Investment Management LLC bought a new position in Hut 8 in the third quarter valued at approximately $133,000. Finally, Dimensional Fund Advisors LP bought a new position in Hut 8 in the second quarter valued at approximately $200,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Stock Up 16.5 %

HUT opened at $28.45 on Friday. Hut 8 Corp. has a 12 month low of $6.18 and a 12 month high of $28.78. The firm’s fifty day simple moving average is $17.13 and its 200 day simple moving average is $14.03. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HUT shares. HC Wainwright raised their price objective on shares of Hut 8 from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Benchmark raised their price objective on shares of Hut 8 from $17.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Canaccord Genuity Group lifted their price target on shares of Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Stifel Nicolaus lifted their price target on shares of Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC lifted their price target on shares of Hut 8 from $21.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $30.17.

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.