Foundations Investment Advisors LLC Purchases Shares of 45,359 Hut 8 Corp. (NASDAQ:HUT)

Foundations Investment Advisors LLC acquired a new position in Hut 8 Corp. (NASDAQ:HUTFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 45,359 shares of the company’s stock, valued at approximately $605,000. Foundations Investment Advisors LLC owned approximately 0.10% of Hut 8 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AM Investment Strategies LLC acquired a new position in shares of Hut 8 during the 4th quarter valued at $597,000. Savior LLC acquired a new position in shares of Hut 8 during the fourth quarter valued at about $1,543,000. Wellington Management Group LLP boosted its position in shares of Hut 8 by 203.4% during the 3rd quarter. Wellington Management Group LLP now owns 1,125,958 shares of the company’s stock worth $2,224,000 after purchasing an additional 754,891 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Hut 8 in the 3rd quarter valued at about $3,429,000. Finally, Headlands Technologies LLC bought a new stake in Hut 8 in the 3rd quarter valued at about $73,000. 31.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HUT has been the subject of a number of research reports. Canaccord Genuity Group reissued a “buy” rating and issued a $14.00 price objective on shares of Hut 8 in a research note on Thursday. Craig Hallum raised shares of Hut 8 from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Thursday. Benchmark restated a “buy” rating and set a $12.00 price target on shares of Hut 8 in a research note on Thursday. HC Wainwright dropped their price objective on shares of Hut 8 from $9.00 to $7.50 and set a “sell” rating on the stock in a research note on Thursday. Finally, Needham & Company LLC boosted their target price on shares of Hut 8 from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.25.

Check Out Our Latest Stock Analysis on Hut 8

Hut 8 Price Performance

HUT opened at $9.16 on Friday. Hut 8 Corp. has a 1 year low of $6.18 and a 1 year high of $22.75. The company has a quick ratio of 4.61, a current ratio of 4.61 and a debt-to-equity ratio of 0.04. The firm’s fifty day moving average price is $8.55 and its two-hundred day moving average price is $8.06.

Insider Buying and Selling

In other Hut 8 news, CFO Shenif Visram sold 17,905 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $8.15, for a total value of $145,925.75. Following the completion of the sale, the chief financial officer now owns 30,865 shares in the company, valued at approximately $251,549.75. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Hut 8 Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hut 8 (NASDAQ:HUT)

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