Mirae Asset Global Investments Co. Ltd. Raises Position in Hut 8 Mining Corp. (NASDAQ:HUT)

Mirae Asset Global Investments Co. Ltd. raised its stake in Hut 8 Mining Corp. (NASDAQ:HUTGet Rating) by 5.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,200,499 shares of the company’s stock after purchasing an additional 110,218 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 1.26% of Hut 8 Mining worth $12,138,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quantbot Technologies LP bought a new position in shares of Hut 8 Mining in the first quarter valued at approximately $28,000. Citigroup Inc. grew its holdings in shares of Hut 8 Mining by 1,045.6% in the first quarter. Citigroup Inc. now owns 8,592 shares of the company’s stock valued at $47,000 after acquiring an additional 7,842 shares in the last quarter. D.A. Davidson & CO. bought a new position in shares of Hut 8 Mining in the first quarter valued at approximately $59,000. Valeo Financial Advisors LLC bought a new position in shares of Hut 8 Mining in the first quarter valued at approximately $61,000. Finally, Vontobel Holding Ltd. bought a new position in shares of Hut 8 Mining in the first quarter valued at approximately $74,000. 12.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, DA Davidson lowered Hut 8 Mining from a “buy” rating to a “neutral” rating in a report on Wednesday, August 17th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.75.

Hut 8 Mining Price Performance

Shares of NASDAQ HUT opened at $1.92 on Tuesday. The stock has a fifty day simple moving average of $2.20 and a two-hundred day simple moving average of $2.99. Hut 8 Mining Corp. has a 1-year low of $1.27 and a 1-year high of $16.57. The firm has a market cap of $373.24 million, a price-to-earnings ratio of -3.43 and a beta of 4.51. The company has a current ratio of 10.61, a quick ratio of 10.61 and a debt-to-equity ratio of 0.07.

Hut 8 Mining (NASDAQ:HUTGet Rating) last posted its earnings results on Thursday, August 11th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.16). The company had revenue of $34.36 million for the quarter, compared to analysts’ expectations of $41.77 million. Hut 8 Mining had a positive return on equity of 2.24% and a negative net margin of 58.30%. Analysts anticipate that Hut 8 Mining Corp. will post 0.08 earnings per share for the current year.

Hut 8 Mining Profile

(Get Rating)

Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America. The company engages in industrial scale bitcoin mining operations. It also owns and operates 38 BlockBoxes in Drumheller, Alberta; and 51 BlockBoxes in Medicine Hat, Alberta. Hut 8 Mining Corp. was incorporated in 2011 and is headquartered in Toronto, Canada.

Further Reading

Want to see what other hedge funds are holding HUT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hut 8 Mining Corp. (NASDAQ:HUTGet Rating).

Institutional Ownership by Quarter for Hut 8 Mining (NASDAQ:HUT)

Receive News & Ratings for Hut 8 Mining Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hut 8 Mining and related companies with MarketBeat.com's FREE daily email newsletter.