Tobam reduced its position in Hut 8 Corp. (NASDAQ:HUT – Free Report) by 85.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,258 shares of the company’s stock after selling 31,802 shares during the quarter. Tobam’s holdings in Hut 8 were worth $242,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of HUT. Nisa Investment Advisors LLC boosted its holdings in shares of Hut 8 by 1.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock valued at $734,000 after acquiring an additional 254 shares in the last quarter. CWM LLC raised its holdings 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Hut 8 by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock valued at $996,000 after purchasing an additional 362 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Hut 8 by 4.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company’s stock valued at $413,000 after purchasing an additional 388 shares during the period. Hedge funds and other institutional investors own 31.75% of the company’s stock.
Insider Transactions at Hut 8
In other Hut 8 news, Director Joseph Flinn sold 7,719 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $117.91, for a total transaction of $910,147.29. Following the sale, the director directly owned 10,519 shares in the company, valued at approximately $1,240,295.29. The trade was a 42.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Rick Rickertsen sold 17,491 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total value of $1,924,010.00. Following the sale, the director 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 112,724 shares of company stock worth $12,184,340. 10.40% of the stock is currently owned by insiders.
Hut 8 Stock Performance
Hut 8 (NASDAQ:HUT – Get Free Report) last issued its 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 net margin of 109.77% and a negative return on equity of 0.35%. The company had revenue of $139.31 million during the quarter, compared to analysts’ expectations of $78.53 million. On average, research analysts predict that Hut 8 Corp. will post -1.29 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. Arete Research assumed coverage on Hut 8 in a research report on Monday, March 23rd. They set a “buy” rating and a $136.00 target price on the stock. BTIG Research raised their price target on Hut 8 from $90.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Canaccord Genuity Group lifted their price target on Hut 8 from $70.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Compass Point set a $130.00 price objective on Hut 8 in a report on Wednesday, May 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a research report on Thursday, February 26th. Seventeen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Hut 8 currently has an average rating of “Moderate Buy” and a consensus target price of $107.72.
Get Our Latest Report on Hut 8
About Hut 8
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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