Thames Capital Management LLC Takes $25.08 Million Position in Hut 8 Corp. $HUT

Thames Capital Management LLC bought a new position in shares of Hut 8 Corp. (NASDAQ:HUT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 720,587 shares of the company’s stock, valued at approximately $25,084,000. Hut 8 makes up 3.6% of Thames Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Thames Capital Management LLC owned 0.68% of Hut 8 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in shares of Hut 8 by 116.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,515 shares of the company’s stock valued at $28,000 after buying an additional 815 shares during the period. Advisors Asset Management Inc. boosted its stake in Hut 8 by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock worth $30,000 after purchasing an additional 655 shares during the period. Russell Investments Group Ltd. boosted its stake in Hut 8 by 235.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after purchasing an additional 1,719 shares during the period. FNY Investment Advisers LLC bought a new position in Hut 8 during the 2nd quarter worth about $99,000. Finally, Global Retirement Partners LLC raised its stake in shares of Hut 8 by 152.2% in the 3rd quarter. Global Retirement Partners LLC now owns 3,349 shares of the company’s stock valued at $117,000 after purchasing an additional 2,021 shares during the period. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Stock Performance

Shares of HUT stock opened at $57.28 on Friday. The company has a fifty day moving average price of $45.84 and a two-hundred day moving average price of $36.38. Hut 8 Corp. has a one year low of $10.04 and a one year high of $62.91. The stock has a market cap of $6.19 billion, a P/E ratio of -146.87 and a beta of 4.41. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.72 and a quick ratio of 0.72.

Hut 8 (NASDAQ:HUT) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.09. Hut 8 had a net margin of 115.39% and a return on equity of 8.06%. The company had revenue of $80.72 million for the quarter, compared to analyst estimates of $64.70 million. As a group, equities analysts predict that Hut 8 Corp. will post -0.53 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on HUT. Canaccord Genuity Group upped their price objective on Hut 8 from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, December 18th. JMP Securities lifted their price objective on shares of Hut 8 from $25.00 to $65.00 and gave the company a “market outperform” rating in a report on Tuesday, October 21st. Cantor Fitzgerald increased their target price on shares of Hut 8 from $24.00 to $64.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. Craig Hallum reaffirmed a “buy” rating and issued a $80.00 target price on shares of Hut 8 in a research report on Thursday, December 18th. Finally, Northland Securities set a $58.00 price target on shares of Hut 8 in a research report on Wednesday, November 5th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $56.76.

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.