8,189 Shares in Hut 8 Corp. $HUT Purchased by State of Wyoming

State of Wyoming bought a new position in shares of Hut 8 Corp. (NASDAQ:HUT) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 8,189 shares of the company’s stock, valued at approximately $384,000.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in shares of Hut 8 in the 4th quarter valued at about $30,000. Imprint Wealth LLC bought a new position in shares of Hut 8 during the fourth quarter valued at approximately $38,000. Harbor Investment Advisory LLC bought a new position in shares of Hut 8 during the first quarter valued at approximately $47,000. Activest Wealth Management purchased a new position in Hut 8 during the fourth quarter valued at approximately $49,000. Finally, Danske Bank A S purchased a new position in Hut 8 during the fourth quarter valued at approximately $51,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on HUT. Piper Sandler upped their price objective on Hut 8 from $93.00 to $127.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Compass Point set a $195.00 target price on Hut 8 in a research note on Wednesday. Rosenblatt Securities reiterated a “buy” rating and issued a $124.00 target price on shares of Hut 8 in a report on Tuesday, July 21st. Citigroup restated an “outperform” rating on shares of Hut 8 in a report on Tuesday, April 28th. Finally, Canaccord Genuity Group lifted their price objective on shares of Hut 8 from $70.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Eighteen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $133.10.

Insiders Place Their Bets

In other Hut 8 news, Director Joseph Flinn sold 7,719 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was 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 of the company’s stock, valued at approximately $1,240,295.29. This trade represents a 42.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Amy Marie Wilkinson sold 20,000 shares of the business’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 in the company, valued at $26,418,066.08. The trade was a 7.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 112,724 shares of company stock worth $12,184,340 in the last three months. Insiders own 10.40% of the company’s stock.

Hut 8 Price Performance

Hut 8 stock opened at $109.99 on Monday. 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 capitalization of $12.38 billion, a price-to-earnings ratio of -36.66 and a beta of 4.62. Hut 8 Corp. has a 1-year low of $18.68 and a 1-year high of $140.80. The business has a fifty day moving average price of $111.59 and a 200-day moving average price of $79.46.

Hut 8 (NASDAQ:HUT) last announced its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $139.31 million for the quarter, compared to analysts’ expectations of $78.53 million. Equities research analysts forecast that Hut 8 Corp. will post -2.12 EPS 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.