Entropy Technologies LP Buys Shares of 13,890 Hut 8 Corp. (NASDAQ:HUT)

Entropy Technologies LP purchased a new position in shares of Hut 8 Corp. (NASDAQ:HUT) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 13,890 shares of the company’s stock, valued at approximately $170,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Hut 8 by 8,329.2% in the 1st quarter. Vanguard Group Inc. now owns 2,787,102 shares of the company’s stock worth $30,770,000 after acquiring an additional 2,754,037 shares in the last quarter. Tidal Investments LLC acquired a new position in Hut 8 in the first quarter worth $18,191,000. D1 Capital Partners L.P. bought a new stake in Hut 8 during the second quarter valued at $17,388,000. Bank of New York Mellon Corp acquired a new stake in shares of Hut 8 during the second quarter worth $4,390,000. Finally, Vident Advisory LLC lifted its position in shares of Hut 8 by 78.3% in the 1st quarter. Vident Advisory LLC now owns 581,481 shares of the company’s stock worth $6,422,000 after buying an additional 255,307 shares during the last quarter. Institutional investors own 31.75% of the company’s stock.

Analysts Set New Price Targets

HUT has been the subject of a number of recent research reports. Craig Hallum boosted their price objective on shares of Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus increased their price target on Hut 8 from $15.00 to $18.00 and gave the stock a “speculative buy” rating in a research report on Wednesday, October 30th. Benchmark upped their price objective on Hut 8 from $17.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday. 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. Finally, HC Wainwright upped their price target on shares of Hut 8 from $26.00 to $35.00 and gave the stock a “buy” rating in a research report on Thursday. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $30.17.

Hut 8 Trading Up 9.2 %

Shares of HUT stock opened at $25.26 on Monday. Hut 8 Corp. has a 1 year low of $6.18 and a 1 year high of $28.47. The stock has a fifty day moving average of $14.47 and a two-hundred day moving average of $12.97. The company has a current ratio of 1.00, a quick ratio of 1.68 and a debt-to-equity ratio of 0.35.

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.