Knightsbridge Asset Management LLC Purchases Shares of 73,300 Hut 8 Corp. (NASDAQ:HUT)

Knightsbridge Asset Management LLC bought a new stake in shares of Hut 8 Corp. (NASDAQ:HUT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 73,300 shares of the company’s stock, valued at approximately $1,502,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC increased its position in shares of Hut 8 by 77.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock valued at $26,000 after purchasing an additional 545 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Hut 8 in the fourth quarter worth approximately $26,000. Russell Investments Group Ltd. lifted its position in shares of Hut 8 by 832.4% during the fourth quarter. Russell Investments Group Ltd. now owns 2,042 shares of the company’s stock worth $42,000 after purchasing an additional 1,823 shares during the last quarter. Principal Securities Inc. purchased a new position in Hut 8 in the 4th quarter worth about $45,000. Finally, Sterling Capital Management LLC lifted its holdings in Hut 8 by 825.0% during the 4th quarter. Sterling Capital Management LLC now owns 2,553 shares of the company’s stock valued at $52,000 after buying an additional 2,277 shares in the last quarter. 31.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. HC Wainwright cut their price target on Hut 8 from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of Hut 8 in a report on Friday, March 7th. Rosenblatt Securities began coverage on shares of Hut 8 in a research note on Friday, March 7th. They issued a “buy” rating and a $23.00 price objective for the company. UBS Group set a $33.00 price target on Hut 8 in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods began coverage on shares of Hut 8 in a research report on Wednesday, January 8th. They set an “outperform” rating for the company. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $27.67.

Hut 8 Price Performance

Shares of HUT stock opened at $12.90 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.00 and a quick ratio of 1.00. Hut 8 Corp. has a fifty-two week low of $7.67 and a fifty-two week high of $31.95. The stock’s 50-day simple moving average is $13.19 and its 200-day simple moving average is $18.88.

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.