Phoenix Financial Ltd. Sells 5,207 Shares of Hut 8 Corp. $HUT

Phoenix Financial Ltd. cut its holdings in Hut 8 Corp. (NASDAQ:HUT) by 40.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,551 shares of the company’s stock after selling 5,207 shares during the period. Phoenix Financial Ltd.’s holdings in Hut 8 were worth $347,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Harvest Portfolios Group Inc. increased its holdings in shares of Hut 8 by 75.3% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 85,093 shares of the company’s stock worth $2,962,000 after buying an additional 36,543 shares during the last quarter. Steadview Capital Management LLC bought a new stake in shares of Hut 8 in the 3rd quarter worth about $985,000. Y Intercept Hong Kong Ltd increased its holdings in shares of Hut 8 by 26.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 131,110 shares of the company’s stock worth $4,564,000 after buying an additional 27,568 shares during the last quarter. Zweig DiMenna Associates LLC increased its holdings in shares of Hut 8 by 256.5% in the 3rd quarter. Zweig DiMenna Associates LLC now owns 707,000 shares of the company’s stock worth $24,611,000 after buying an additional 508,700 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of Hut 8 in the 3rd quarter worth about $1,385,000. 31.75% of the stock is currently owned by institutional investors.

Hut 8 Price Performance

HUT stock opened at $102.47 on Friday. Hut 8 Corp. has a 12 month low of $14.74 and a 12 month high of $112.26. 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 has a 50-day moving average price of $66.88 and a 200 day moving average price of $55.72. The stock has a market cap of $11.54 billion, a PE ratio of -34.16 and a beta of 4.48.

Hut 8 (NASDAQ:HUT) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) 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 for the quarter, compared to analysts’ expectations of $78.53 million. Equities research analysts anticipate that Hut 8 Corp. will post -2.34 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on HUT shares. Arete Research started coverage on shares of Hut 8 in a report on Monday, March 23rd. They issued a “buy” rating and a $136.00 target price on the stock. Compass Point set a $130.00 target price on shares of Hut 8 in a report on Wednesday. Jefferies Financial Group began coverage on shares of Hut 8 in a research note on Thursday. They set a “buy” rating and a $156.00 price target for the company. Citigroup reaffirmed an “outperform” rating on shares of Hut 8 in a research note on Tuesday, April 28th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Hut 8 in a research note on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hut 8 currently has a consensus rating of “Moderate Buy” and an average target price of $107.72.

Insider Buying and Selling at Hut 8

In other Hut 8 news, Director Rick Rickertsen sold 17,491 shares of the business’s 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 completion of the sale, the director directly owned 17,491 shares of the company’s stock, valued at $1,924,010. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victor Semah sold 10,518 shares of the business’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $76.83, for a total transaction of $808,097.94. Following the completion of the sale, the insider directly owned 41,378 shares of the company’s stock, valued at approximately $3,179,071.74. This trade represents a 20.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 54,628 shares of company stock valued at $4,960,721 in the last three months. Company insiders own 10.40% of the company’s stock.

Hut 8 Company 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.