Regal Partners Ltd Takes $3.30 Million Position in Hut 8 Corp. $HUT

Regal Partners Ltd purchased a new position in Hut 8 Corp. (NASDAQ:HUT) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 94,860 shares of the company’s stock, valued at approximately $3,302,000.

Other large investors have also recently made changes to their positions in the company. Millennium Management LLC raised its stake in Hut 8 by 11.9% in the 1st quarter. Millennium Management LLC now owns 330,416 shares of the company’s stock valued at $3,839,000 after purchasing an additional 35,120 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Hut 8 by 20.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 14,855 shares of the company’s stock worth $276,000 after purchasing an additional 2,550 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Hut 8 by 21.7% during the second quarter. Bank of Montreal Can now owns 18,806 shares of the company’s stock worth $351,000 after buying an additional 3,358 shares in the last quarter. Harvest Portfolios Group Inc. grew its holdings in shares of Hut 8 by 70.9% during the second quarter. Harvest Portfolios Group Inc. now owns 48,550 shares of the company’s stock worth $903,000 after buying an additional 20,145 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Hut 8 by 31.3% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,179 shares of the company’s stock valued at $171,000 after buying an additional 2,186 shares during the last quarter. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Hut 8 Stock Down 8.4%

Shares of NASDAQ HUT opened at $47.07 on Friday. The company has a market capitalization of $5.22 billion, a P/E ratio of -20.29 and a beta of 4.42. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.09 and a quick ratio of 1.09. The company has a 50 day simple moving average of $55.09 and a 200-day simple moving average of $45.02. Hut 8 Corp. has a 1 year low of $10.04 and a 1 year high of $66.07.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HUT. B. Riley Financial raised their price target on shares of Hut 8 from $61.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Keefe, Bruyette & Woods upped their price objective on shares of Hut 8 from $55.00 to $75.00 and gave the company a “moderate buy” rating in a research note on Tuesday, January 27th. Weiss Ratings downgraded shares of Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Roth Mkm reissued a “buy” rating and issued a $80.00 target price on shares of Hut 8 in a research note on Tuesday, January 27th. Finally, Piper Sandler restated an “overweight” rating on shares of Hut 8 in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.56.

Hut 8 Profile

Hut 8 Corp., trading on the Nasdaq under the symbol HUT, is a North American digital infrastructure company specializing in cryptocurrency mining and high?performance computing. Founded in 2017 and headquartered in Toronto, Canada, Hut 8 operates purpose?built data centers that house fleets of specialized ASIC and GPU servers. Through its flagship mining facilities in Alberta and Ontario, the company leverages low?cost, low?carbon power sources—such as hydroelectric and natural gas—to support sustainable bitcoin production.