D1 Capital Partners L.P. Has $11.18 Million Position in Hut 8 Corp. (NASDAQ:HUT)

D1 Capital Partners L.P. cut its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 21.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 912,000 shares of the company’s stock after selling 248,000 shares during the period. D1 Capital Partners L.P.’s holdings in Hut 8 were worth $11,181,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Hut 8 during the 3rd quarter worth about $9,997,000. Vanguard Group Inc. grew its stake in Hut 8 by 8,329.2% in 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. Millennium Management LLC grew its stake in Hut 8 by 46.4% in the 2nd quarter. Millennium Management LLC now owns 649,518 shares of the company’s stock valued at $9,733,000 after buying an additional 205,836 shares during the last quarter. Ninepoint Partners LP acquired a new position in Hut 8 in the 2nd quarter valued at about $720,000. Finally, Bank of New York Mellon Corp acquired a new position in Hut 8 in the 2nd quarter valued at about $4,390,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Stock Performance

Shares of Hut 8 stock opened at $28.45 on Friday. The company has a 50 day moving average of $17.13 and a 200-day moving average of $14.03. Hut 8 Corp. has a 1-year low of $6.18 and a 1-year high of $28.78. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Hut 8 from $15.00 to $18.00 and gave the company a “speculative buy” rating in a research note on Wednesday, October 30th. Craig Hallum upped their price target on shares of Hut 8 from $15.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Canaccord Genuity Group upped their price target on shares of Hut 8 from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. HC Wainwright upped their price target on shares of Hut 8 from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Benchmark boosted their price objective on shares of Hut 8 from $17.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $30.17.

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.