Compass Rose Asset Management LP Makes New Investment in Hut 8 Corp. $HUT

Compass Rose Asset Management LP bought a new stake in shares of Hut 8 Corp. (NASDAQ:HUT) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 25,649 shares of the company’s stock, valued at approximately $1,203,000. Hut 8 makes up about 0.1% of Compass Rose Asset Management LP’s investment portfolio, making the stock its 16th largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake 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 buying an additional 4,062,367 shares during the period. Handelsbanken Fonder AB bought a new stake in shares of Hut 8 during the 4th quarter worth about $1,153,000. Steadview Capital Management LLC lifted its stake in shares of Hut 8 by 1,425.3% in the 4th quarter. Steadview Capital Management LLC now owns 431,655 shares of the company’s stock worth $19,830,000 after acquiring an additional 403,355 shares during the period. GeoSphere Capital Management LLC boosted its holdings in shares of Hut 8 by 64.3% in the fourth quarter. GeoSphere Capital Management LLC now owns 115,000 shares of the company’s stock valued at $5,283,000 after acquiring an additional 45,000 shares in the last quarter. Finally, Thoroughbred Financial Services LLC bought a new position in shares of Hut 8 in the fourth quarter valued at approximately $741,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Key Stories Impacting Hut 8

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Benchmark raised its price target on Hut 8 to $195 from $165 and reiterated a buy rating, signaling additional upside after the stock’s recent rally. Benchmark Raises Hut 8 Price Target For Second Time In A Week
• Positive Sentiment: Needham lifted its target to $145 after Hut 8 secured a second Beacon Point AI lease, reinforcing investor confidence in the company’s pivot toward AI data centers. Needham lifts Hut 8 target to $145 after second Beacon Point AI lease
• Positive Sentiment: Benchmark also highlighted Hut 8’s new $9.8 billion AI infrastructure deal, which materially increases contracted capacity and supports the company’s transition from bitcoin mining toward higher-value AI data center operations. Benchmark Raises Hut 8 Price Target After Bitcoin Miner Signs $9.8 Billion AI Data Center Deal
• Positive Sentiment: Rosenblatt Securities initiated or reiterated a Buy rating on Hut 8, adding to the bullish sentiment around the stock. Hut 8 (NASDAQ:HUT) Earns “Buy” Rating from Rosenblatt Securities
• Neutral Sentiment: Investor attention is also being drawn to elevated call-option activity, suggesting traders are positioning for continued volatility around the stock. Investors Buy Large Volume of Call Options on Hut 8 (NASDAQ:HUT)

Insiders Place Their Bets

In other Hut 8 news, Director Joseph Flinn sold 30,500 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the completion of the sale, the director directly owned 18,238 shares in the company, valued at approximately $2,119,437.98. This trade represents a 62.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Victor Semah sold 10,518 shares of Hut 8 stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $76.83, for a total value of $808,097.94. Following the transaction, the insider directly owned 41,378 shares in the company, valued at approximately $3,179,071.74. This trade represents a 20.27% decrease in their position. The SEC filing for this sale provides additional information. 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 112,724 shares of company stock valued at $12,184,340 over the last ninety days. Corporate insiders own 10.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HUT. Needham & Company LLC boosted their target price on Hut 8 from $128.00 to $145.00 and gave the stock a “buy” rating in a report on Monday. Northland Securities set a $120.00 target price on Hut 8 in a research report on Thursday, May 7th. Compass Point set a $195.00 price target on Hut 8 in a research note on Wednesday. BTIG Research lifted their price target on Hut 8 from $115.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Finally, Benchmark boosted their price objective on Hut 8 from $165.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday. Eighteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Hut 8 presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.10.

Hut 8 Price Performance

Shares of NASDAQ:HUT opened at $117.67 on Friday. The company’s fifty day moving average is $111.44 and its two-hundred day moving average is $79.09. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. Hut 8 Corp. has a 12-month low of $18.68 and a 12-month high of $140.80. The company has a market cap of $13.25 billion, a P/E ratio of -39.22 and a beta of 4.62.

Hut 8 (NASDAQ:HUT) last released 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). The business had revenue of $139.31 million during the quarter, compared to analysts’ expectations of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. 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.