Hut 8 Corp. (NASDAQ:HUT) Shares Purchased by Clearline Capital LP

Clearline Capital LP grew its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 966.7% during the 3rd quarter, Holdings Channel reports. The firm owned 199,576 shares of the company’s stock after purchasing an additional 180,867 shares during the period. Clearline Capital LP’s holdings in Hut 8 were worth $2,447,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Foundations Investment Advisors LLC grew its holdings in Hut 8 by 2.0% during the second quarter. Foundations Investment Advisors LLC now owns 48,728 shares of the company’s stock worth $730,000 after acquiring an additional 949 shares during the period. AM Investment Strategies LLC grew its stake in shares of Hut 8 by 3.6% in the 3rd quarter. AM Investment Strategies LLC now owns 44,000 shares of the company’s stock worth $539,000 after purchasing an additional 1,521 shares during the last quarter. Amalgamated Bank bought a new stake in shares of Hut 8 in the 2nd quarter worth approximately $42,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Hut 8 by 27.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,223 shares of the company’s stock valued at $213,000 after purchasing an additional 3,105 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Hut 8 during the 3rd quarter valued at $40,000. Institutional investors own 31.75% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Needham & Company LLC upped their target price on Hut 8 from $21.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Benchmark raised their target price on shares of Hut 8 from $17.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Canaccord Genuity Group boosted their price target on shares of Hut 8 from $22.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, November 14th. HC Wainwright raised their price objective on shares of Hut 8 from $26.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Craig Hallum boosted their target price on shares of Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Hut 8 currently has a consensus rating of “Buy” and a consensus target price of $30.17.

Hut 8 Stock Performance

Shares of NASDAQ HUT opened at $28.02 on Monday. Hut 8 Corp. has a one year low of $6.18 and a one year high of $30.17. The business’s 50-day moving average price is $17.46 and its two-hundred day moving average price is $14.25. 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 Company 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.