Thomist Capital Management LP Takes $502,000 Position in Hut 8 Corp. (NASDAQ:HUT)

Thomist Capital Management LP bought a new stake in Hut 8 Corp. (NASDAQ:HUT) in the 4th quarter, Holdings Channel reports. The fund bought 24,200 shares of the company’s stock, valued at approximately $502,000.

Several other institutional investors and hedge funds have also made changes to their positions in HUT. Nisa Investment Advisors LLC raised its holdings in Hut 8 by 77.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock valued at $26,000 after acquiring an additional 545 shares in the last quarter. GoalVest Advisory LLC acquired a new stake in Hut 8 in the fourth quarter valued at $330,000. KBC Group NV acquired a new stake in Hut 8 in the fourth quarter valued at $69,000. Foundations Investment Advisors LLC raised its holdings in Hut 8 by 1.9% in the fourth quarter. Foundations Investment Advisors LLC now owns 50,687 shares of the company’s stock valued at $1,039,000 after acquiring an additional 932 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Hut 8 in the fourth quarter valued at $26,000. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HUT. UBS Group set a $33.00 price target on shares of Hut 8 in a report on Wednesday, April 2nd. Rosenblatt Securities began coverage on shares of Hut 8 in a report on Friday, March 7th. They issued a “buy” rating and a $23.00 price target on the stock. Northland Securities began coverage on shares of Hut 8 in a report on Monday, April 21st. They set an “outperform” rating and a $20.00 target price on the stock. Northland Capmk raised shares of Hut 8 to a “strong-buy” rating in a report on Monday, April 21st. Finally, Needham & Company LLC reissued a “buy” rating and set a $21.00 target price on shares of Hut 8 in a report on Friday, May 9th. Thirteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $25.93.

Hut 8 Trading Up 9.9%

Hut 8 stock opened at $17.13 on Friday. The company has a 50-day simple moving average of $12.80 and a 200-day simple moving average of $18.92. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.00 and a current ratio of 1.00. Hut 8 Corp. has a one year low of $8.53 and a one year high of $31.95.

Hut 8 (NASDAQ:HUT) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The firm had revenue of $20.88 million for the quarter, compared to analyst estimates of $33.68 million. On average, sell-side analysts forecast that Hut 8 Corp. will post -0.53 EPS for the current year.

Insider Transactions at Hut 8

In related news, insider Victor Semah sold 11,363 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $12.95, for a total value of $147,150.85. Following the completion of the transaction, the insider now owns 15,738 shares in the company, valued at $203,807.10. This represents a 41.93% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 11.20% of the company’s stock.

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.