57,582 Shares in Hut 8 Corp. (NASDAQ:HUT) Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP purchased a new position in Hut 8 Corp. (NASDAQ:HUT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 57,582 shares of the company’s stock, valued at approximately $1,180,000. ExodusPoint Capital Management LP owned 0.06% of Hut 8 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Arete Wealth Advisors LLC acquired a new position in shares of Hut 8 in the 4th quarter worth approximately $411,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Hut 8 in the 4th quarter worth approximately $9,378,000. Trexquant Investment LP acquired a new position in shares of Hut 8 in the 4th quarter worth approximately $6,788,000. Headlands Technologies LLC increased its stake in shares of Hut 8 by 13.3% in the 4th quarter. Headlands Technologies LLC now owns 86,707 shares of the company’s stock valued at $1,777,000 after acquiring an additional 10,209 shares in the last quarter. Finally, Franklin Resources Inc. bought a new stake in shares of Hut 8 in the 4th quarter valued at $693,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on HUT shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of Hut 8 in a research note on Friday, March 7th. Piper Sandler started coverage on shares of Hut 8 in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $33.00 price objective for the company. Benchmark lowered their price objective on shares of Hut 8 from $41.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods began coverage on shares of Hut 8 in a research note on Wednesday, January 8th. They issued an “outperform” rating for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $30.00 price target on shares of Hut 8 in a research note on Tuesday, March 4th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Hut 8 currently has a consensus rating of “Buy” and a consensus price target of $29.40.

Hut 8 Trading Up 13.6 %

Shares of HUT stock opened at $12.59 on Thursday. The firm has a 50-day moving average of $15.20 and a 200-day moving average of $18.96. 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 one year low of $6.95 and a one year high of $31.95.

Hut 8 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.