Arete Wealth Advisors LLC Invests $411,000 in Hut 8 Corp. (NASDAQ:HUT)

Arete Wealth Advisors LLC purchased a new stake in shares of Hut 8 Corp. (NASDAQ:HUT) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 19,743 shares of the company’s stock, valued at approximately $411,000.

Other institutional investors have also added to or reduced their stakes in the company. Intech Investment Management LLC bought a new stake in shares of Hut 8 during the third quarter worth about $133,000. Charles Schwab Investment Management Inc. grew its holdings in Hut 8 by 31.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 833,165 shares of the company’s stock worth $10,215,000 after acquiring an additional 197,074 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Hut 8 by 24.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 18,520 shares of the company’s stock worth $227,000 after acquiring an additional 3,653 shares during the last quarter. MetLife Investment Management LLC increased its position in Hut 8 by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 46,719 shares of the company’s stock valued at $573,000 after acquiring an additional 26,324 shares during the period. Finally, State Street Corp raised its stake in shares of Hut 8 by 12.6% during the third quarter. State Street Corp now owns 2,740,769 shares of the company’s stock valued at $33,602,000 after acquiring an additional 307,292 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on HUT. Benchmark decreased their price objective on Hut 8 from $41.00 to $33.00 and set a “buy” rating for the company in a report on Wednesday. Rosenblatt Securities started coverage on Hut 8 in a research report on Friday, March 7th. They set a “buy” rating and a $23.00 price objective for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of Hut 8 in a report on Friday, March 7th. HC Wainwright lowered their price target on shares of Hut 8 from $35.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $30.00 price target on shares of Hut 8 in a research report on Tuesday, March 4th. Ten research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $29.00.

Hut 8 Trading Down 4.4 %

NASDAQ:HUT opened at $11.39 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.35. Hut 8 Corp. has a twelve month low of $6.95 and a twelve month high of $31.95. The company has a fifty day moving average of $16.08 and a 200-day moving average of $19.00.

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.