GoalVest Advisory LLC Invests $330,000 in Hut 8 Corp. (NASDAQ:HUT)

GoalVest Advisory LLC acquired a new stake in shares of Hut 8 Corp. (NASDAQ:HUT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 16,100 shares of the company’s stock, valued at approximately $330,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its holdings in shares of Hut 8 by 77.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,245 shares of the company’s stock valued at $26,000 after purchasing an additional 545 shares during the period. Foundations Investment Advisors LLC increased its stake in Hut 8 by 2.1% in the 3rd quarter. Foundations Investment Advisors LLC now owns 49,755 shares of the company’s stock valued at $610,000 after buying an additional 1,027 shares during the period. AM Investment Strategies LLC lifted its position in Hut 8 by 3.6% in the 3rd quarter. AM Investment Strategies LLC now owns 44,000 shares of the company’s stock worth $539,000 after buying an additional 1,521 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Hut 8 during the 2nd quarter valued at $42,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Hut 8 during the 3rd quarter valued at $40,000. Institutional investors own 31.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on HUT. Benchmark reissued a “buy” rating and set a $41.00 target price on shares of Hut 8 in a research report on Tuesday, January 7th. Stifel Nicolaus raised their price objective 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. Canaccord Genuity Group upped their target price on Hut 8 from $22.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Keefe, Bruyette & Woods began coverage on shares of Hut 8 in a research report on Wednesday, January 8th. They issued an “outperform” rating on the stock. Finally, Needham & Company LLC restated a “buy” rating and issued a $38.00 price objective on shares of Hut 8 in a research note on Monday, January 13th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Hut 8 currently has an average rating of “Buy” and a consensus price target of $33.00.

Hut 8 Stock Performance

Shares of HUT opened at $25.86 on Thursday. The business has a 50-day simple moving average of $25.22 and a two-hundred day simple moving average of $17.78. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.35. Hut 8 Corp. has a 12-month low of $6.23 and a 12-month high of $31.95.

About Hut 8

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.