Marnell Management LLC bought a new position in Hut 8 Corp. (NASDAQ:HUT – Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 75,942 shares of the company’s stock, valued at approximately $3,489,000. Hut 8 makes up 1.7% of Marnell Management LLC’s portfolio, making the stock its 17th biggest holding.
Several other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in shares of Hut 8 by 1.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock worth $734,000 after acquiring an additional 254 shares in the last quarter. CWM LLC boosted its position in Hut 8 by 37.4% during the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after purchasing an additional 301 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Hut 8 by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock worth $331,000 after purchasing an additional 321 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Hut 8 by 1.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock worth $996,000 after purchasing an additional 362 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its position in Hut 8 by 4.8% during the fourth quarter. Integrated Wealth Concepts LLC now owns 10,028 shares of the company’s stock worth $461,000 after purchasing an additional 456 shares during the period. Institutional investors own 31.75% of the company’s stock.
Insider Transactions at Hut 8
In other news, Director Amy Marie Wilkinson sold 20,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $100.78, for a total value of $2,015,600.00. Following the sale, the director directly owned 262,136 shares of the company’s stock, valued at approximately $26,418,066.08. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Rick Rickertsen sold 17,491 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the completion of the sale, the director directly owned 17,491 shares in the company, valued at approximately $1,924,010. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 64,505 shares of company stock valued at $6,479,788. 10.40% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Hut 8 Stock Performance
Shares of Hut 8 stock opened at $118.86 on Monday. Hut 8 Corp. has a 12-month low of $15.26 and a 12-month high of $140.80. The company has a market cap of $13.38 billion, a price-to-earnings ratio of -39.62 and a beta of 4.61. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The company’s 50-day moving average price is $92.90 and its 200-day moving average price is $65.80.
Hut 8 (NASDAQ:HUT – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%.The firm had revenue of $139.31 million during the quarter, compared to analysts’ expectations of $78.53 million. On average, equities analysts expect that Hut 8 Corp. will post -1.29 earnings per share for the current fiscal year.
Hut 8 Profile
Hut 8 Corp., trading on the Nasdaq under the symbol HUT, is a North American digital infrastructure company specializing in cryptocurrency mining and high‐performance computing. Founded in 2017 and headquartered in Toronto, Canada, Hut 8 operates purpose‐built data centers that house fleets of specialized ASIC and GPU servers. Through its flagship mining facilities in Alberta and Ontario, the company leverages low‐cost, low‐carbon power sources—such as hydroelectric and natural gas—to support sustainable bitcoin production.
Featured Stories
- Five stocks we like better than Hut 8
- 3 ETFs Giving Ready-Made Access to the Discounted International Small-Cap Space
- What to Expect From Q2 Earnings as Tech Strength Broadens
- Viasat’s Orbiting Profits: Space Force Jackpot?
- Robinhood Wants a Bigger Role in IPOs—Here’s Why It Matters
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 Corp. (NASDAQ:HUT – Free Report).
Receive News & Ratings for Hut 8 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hut 8 and related companies with MarketBeat.com's FREE daily email newsletter.
