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

Walleye Capital LLC boosted its holdings in Hut 8 Corp. (NASDAQ:HUT) by 179.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 405,780 shares of the company’s stock after purchasing an additional 260,695 shares during the period. Walleye Capital LLC owned about 0.45% of Hut 8 worth $4,975,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of HUT. Vanguard Group Inc. lifted its position in shares of Hut 8 by 8,329.2% during the 1st quarter. Vanguard Group Inc. now owns 2,787,102 shares of the company’s stock valued at $30,770,000 after buying an additional 2,754,037 shares during the last quarter. D1 Capital Partners L.P. bought a new position in Hut 8 in the 2nd quarter worth about $17,388,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in Hut 8 in the 3rd quarter worth about $9,997,000. Bank of New York Mellon Corp bought a new position in shares of Hut 8 during the 2nd quarter valued at about $4,390,000. Finally, Millennium Management LLC increased its position in shares of Hut 8 by 46.4% during the 2nd quarter. Millennium Management LLC now owns 649,518 shares of the company’s stock valued at $9,733,000 after purchasing an additional 205,836 shares during the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HUT shares. Craig Hallum increased their price objective on Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Canaccord Genuity Group increased their price objective on Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Needham & Company LLC raised their target price on Hut 8 from $21.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Stifel Nicolaus raised their target price on Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a research note on Wednesday, October 30th. Finally, Benchmark raised their price objective on Hut 8 from $17.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Hut 8 presently has an average rating of “Buy” and an average price target of $30.17.

Hut 8 Trading Down 1.5 %

Hut 8 stock opened at $28.02 on Monday. The stock has a fifty day simple moving average of $17.46 and a two-hundred day simple moving average of $14.25. Hut 8 Corp. has a 12 month low of $6.18 and a 12 month high of $30.17. 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 Company 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.