Delta Global Management LP increased its position in shares of Hut 8 Corp. (NASDAQ:HUT – Free Report) by 66.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 253,958 shares of the company’s stock after acquiring an additional 101,804 shares during the period. Delta Global Management LP owned about 0.24% of Hut 8 worth $11,667,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harvest Portfolios Group Inc. boosted its holdings in Hut 8 by 75.3% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 85,093 shares of the company’s stock valued at $2,962,000 after acquiring an additional 36,543 shares during the period. Zweig DiMenna Associates LLC boosted its holdings in Hut 8 by 256.5% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 707,000 shares of the company’s stock valued at $24,611,000 after acquiring an additional 508,700 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Hut 8 by 4,669,387.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock valued at $186,629,000 after acquiring an additional 4,062,367 shares during the period. Handelsbanken Fonder AB purchased a new position in Hut 8 during the 4th quarter valued at about $1,153,000. Finally, WINTON GROUP Ltd purchased a new position in Hut 8 during the 3rd quarter valued at about $1,385,000. 31.75% of the stock is currently owned by hedge funds and other institutional investors.
Hut 8 Stock Up 1.1%
Hut 8 stock opened at $120.18 on Tuesday. Hut 8 Corp. has a 1-year low of $15.26 and a 1-year high of $140.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $13.53 billion, a PE ratio of -40.06 and a beta of 4.61. The stock’s fifty day moving average is $94.34 and its two-hundred day moving average is $66.37.
Insiders Place Their Bets
In other Hut 8 news, insider Victor Semah sold 10,518 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $76.83, for a total value of $808,097.94. Following the sale, the insider directly owned 41,378 shares in the company, valued at $3,179,071.74. This trade represents a 20.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joseph Flinn sold 7,719 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $117.91, for a total value of $910,147.29. Following the completion of the sale, the director owned 10,519 shares in the company, valued at approximately $1,240,295.29. This represents a 42.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 102,724 shares of company stock valued at $10,934,340 in the last three months. Corporate insiders own 10.40% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently commented on HUT. Arete Research began coverage on Hut 8 in a report on Monday, March 23rd. They set a “buy” rating and a $136.00 target price for the company. Jefferies Financial Group initiated coverage on Hut 8 in a research note on Thursday, May 14th. They issued a “buy” rating and a $156.00 price objective on the stock. Needham & Company LLC increased their price objective on Hut 8 from $88.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Northland Securities set a $120.00 price objective on Hut 8 in a research note on Thursday, May 7th. Finally, Piper Sandler increased their price objective on Hut 8 from $93.00 to $127.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Seventeen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.72.
Read Our Latest Research Report on Hut 8
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.
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