Walleye Capital LLC Purchases 260,695 Shares of Hut 8 Corp. (NASDAQ:HUT)

Walleye Capital LLC boosted its stake in shares of Hut 8 Corp. (NASDAQ:HUT) by 179.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 405,780 shares of the company’s stock after buying an additional 260,695 shares during the quarter. Walleye Capital LLC’s holdings in Hut 8 were worth $4,975,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of HUT. Vanguard Group Inc. lifted its position in Hut 8 by 8,329.2% during the first quarter. Vanguard Group Inc. now owns 2,787,102 shares of the company’s stock valued at $30,770,000 after purchasing an additional 2,754,037 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in shares of Hut 8 in the second quarter worth about $17,388,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Hut 8 in the third quarter worth about $9,997,000. Bank of New York Mellon Corp bought a new stake in shares of Hut 8 in the second quarter worth about $4,390,000. Finally, Millennium Management LLC increased its holdings in shares of Hut 8 by 46.4% in the second quarter. Millennium Management LLC now owns 649,518 shares of the company’s stock worth $9,733,000 after purchasing an additional 205,836 shares during the last quarter. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Hut 8 Stock Down 1.5 %

NASDAQ HUT opened at $28.02 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s fifty day moving average price is $17.46 and its 200 day moving average price is $14.25. Hut 8 Corp. has a 1 year low of $6.18 and a 1 year high of $30.17.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on HUT shares. Craig Hallum boosted their price objective on Hut 8 from $15.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus boosted their price target on Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a report on Wednesday, October 30th. HC Wainwright boosted their price target on Hut 8 from $26.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Benchmark upped their target price on Hut 8 from $17.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC upped their target price on Hut 8 from $21.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently 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.