Banco Bilbao Vizcaya Argentaria S.A. Decreases Holdings in Hut 8 Mining Corp. (NASDAQ:HUT)

Posted by Defense World Staff on Aug 18th, 2023

Banco Bilbao Vizcaya Argentaria S.A. trimmed its position in shares of Hut 8 Mining Corp. (NASDAQ:HUT – Free Report) by 38.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,271 shares of the company’s stock after selling 10,346 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Hut 8 Mining were worth $30,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vontobel Holding Ltd. bought a new position in Hut 8 Mining during the 1st quarter worth approximately $25,000. Engineers Gate Manager LP bought a new position in Hut 8 Mining during the 4th quarter worth approximately $27,000. Clarus Wealth Advisors bought a new position in Hut 8 Mining during the 1st quarter worth approximately $28,000. Quantbot Technologies LP bought a new position in Hut 8 Mining during the 1st quarter worth approximately $28,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Hut 8 Mining during the 2nd quarter worth approximately $28,000. 6.72% of the stock is owned by hedge funds and other institutional investors.

Hut 8 Mining Price Performance

Shares of HUT stock opened at $2.42 on Friday. The firm has a market cap of $536.49 million, a P/E ratio of -5.26 and a beta of 4.42. Hut 8 Mining Corp. has a fifty-two week low of $0.78 and a fifty-two week high of $4.55. The business’s 50 day moving average price is $3.15 and its 200-day moving average price is $2.29. The company has a debt-to-equity ratio of 0.06, a quick ratio of 9.85 and a current ratio of 6.96.

Hut 8 Mining (NASDAQ:HUT – Get Free Report) last issued its quarterly earnings data on Monday, August 14th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $14.28 million during the quarter, compared to the consensus estimate of $15.98 million. Hut 8 Mining had a negative return on equity of 23.18% and a negative net margin of 121.54%. During the same quarter in the prior year, the business posted ($0.12) earnings per share. On average, equities research analysts anticipate that Hut 8 Mining Corp. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HUT. Canaccord Genuity Group raised their price target on Hut 8 Mining from $3.00 to $3.50 and gave the stock a “buy” rating in a research report on Tuesday. HC Wainwright raised their price target on Hut 8 Mining from $1.60 to $2.75 and gave the stock a “neutral” rating in a research report on Tuesday.

View Our Latest Analysis on HUT

Hut 8 Mining Profile

(Free Report)

Hut 8 Mining Corp. operates as a cryptocurrency mining company in North America. It provides computing power to the mining pools in exchange for digital assets. The company serve commercial customers across various industries, including financial, healthcare, government, and those in the growing digital asset, Blockchain, gaming, virtual effects, and Web 3.0 space.