Tactive Advisors LLC reduced its position in shares of Hut 8 Corp. (NASDAQ:HUT – Free Report) by 8.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 73,281 shares of the company’s stock after selling 7,200 shares during the period. Hut 8 accounts for about 1.0% of Tactive Advisors LLC’s holdings, making the stock its 26th biggest position. Tactive Advisors LLC’s holdings in Hut 8 were worth $3,438,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its holdings in Hut 8 by 1.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock worth $734,000 after purchasing an additional 254 shares during the last quarter. CWM LLC increased its stake in Hut 8 by 37.4% in the 4th quarter. CWM LLC now owns 1,106 shares of the company’s stock valued at $51,000 after buying an additional 301 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Hut 8 by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock worth $331,000 after buying an additional 321 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Hut 8 by 1.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock worth $996,000 after buying an additional 362 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Hut 8 by 4.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company’s stock worth $413,000 after buying an additional 388 shares during the last quarter. 31.75% of the stock is currently owned by hedge funds and other institutional investors.
Hut 8 Price Performance
HUT opened at $124.44 on Monday. The firm has a market capitalization of $14.01 billion, a P/E ratio of -41.48 and a beta of 4.61. Hut 8 Corp. has a one year low of $15.26 and a one year high of $140.80. The company has a fifty day moving average price of $99.89 and a 200-day moving average price of $68.59. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86.
Insiders Place Their Bets
In other Hut 8 news, Director Amy Marie Wilkinson sold 20,000 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $100.78, for a total value of $2,015,600.00. Following the sale, the director owned 262,136 shares of the company’s stock, valued at $26,418,066.08. This trade represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rick Rickertsen sold 17,491 shares of Hut 8 stock in a transaction dated Wednesday, May 13th. The shares were 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 of the company’s stock, valued at approximately $1,924,010. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 112,724 shares of company stock valued at $12,184,340 over the last 90 days. 10.40% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Wall Street Zen downgraded Hut 8 from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Citizens Jmp raised their target price on Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a research report on Thursday, May 7th. Piper Sandler boosted their price target on shares of Hut 8 from $93.00 to $127.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Cantor Fitzgerald raised their price objective on shares of Hut 8 from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Finally, Weiss Ratings cut shares of Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Seventeen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.72.
Get Our Latest Stock Analysis on HUT
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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