Hut 8 Corp. (NASDAQ:HUT) Holdings Raised by Two Seas Capital LP

Two Seas Capital LP raised its stake in shares of Hut 8 Corp. (NASDAQ:HUT) by 132.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 476,808 shares of the company’s stock after buying an additional 271,892 shares during the period. Hut 8 comprises approximately 0.8% of Two Seas Capital LP’s holdings, making the stock its 15th largest position. Two Seas Capital LP’s holdings in Hut 8 were worth $9,770,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its holdings in Hut 8 by 77.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock worth $26,000 after buying an additional 545 shares in the last quarter. GoalVest Advisory LLC bought a new stake in shares of Hut 8 during the 4th quarter worth $330,000. KBC Group NV acquired a new position in shares of Hut 8 in the 4th quarter worth $69,000. Foundations Investment Advisors LLC raised its position in shares of Hut 8 by 1.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 50,687 shares of the company’s stock worth $1,039,000 after purchasing an additional 932 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Hut 8 during the fourth quarter valued at $26,000. 31.75% of the stock is currently owned by institutional investors.

Hut 8 Price Performance

Hut 8 stock opened at $16.83 on Wednesday. The company’s 50-day moving average is $13.01 and its two-hundred day moving average is $18.94. 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 1 year low of $8.53 and a 1 year high of $31.95.

Hut 8 (NASDAQ:HUT) last released its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.06). The business had revenue of $20.88 million during the quarter, compared to analysts’ expectations of $33.68 million. As a group, research analysts expect that Hut 8 Corp. will post -0.53 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Victor Semah sold 11,363 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $12.95, for a total value of $147,150.85. Following the sale, the insider now directly owns 15,738 shares in the company, valued at $203,807.10. The trade was a 41.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 11.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Maxim Group started coverage on Hut 8 in a report on Thursday, May 1st. They set a “buy” rating and a $20.00 price objective on the stock. Canaccord Genuity Group restated a “buy” rating and set a $32.00 price objective on shares of Hut 8 in a research report on Monday, May 12th. HC Wainwright reiterated a “buy” rating and set a $25.00 price objective on shares of Hut 8 in a report on Friday, May 9th. UBS Group set a $33.00 target price on shares of Hut 8 in a research report on Wednesday, April 2nd. Finally, Northland Capmk upgraded Hut 8 to a “strong-buy” rating in a report on Monday, April 21st. Thirteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $25.93.

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.