Tactive Advisors LLC Sells 13,477 Shares of Hut 8 Corp. $HUT

Tactive Advisors LLC lessened its position in Hut 8 Corp. (NASDAQ:HUT) by 14.3% in the 4th quarter, Holdings Channel reports. The firm owned 80,481 shares of the company’s stock after selling 13,477 shares during the period. Hut 8 accounts for approximately 1.1% of Tactive Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding. Tactive Advisors LLC’s holdings in Hut 8 were worth $3,697,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its position in shares of Hut 8 by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock worth $30,000 after purchasing an additional 655 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Hut 8 in the 4th quarter valued at $30,000. Russell Investments Group Ltd. increased its position in shares of Hut 8 by 235.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock valued at $46,000 after buying an additional 1,719 shares in the last quarter. NewEdge Advisors LLC raised its stake in Hut 8 by 67.2% during the 3rd quarter. NewEdge Advisors LLC now owns 2,257 shares of the company’s stock worth $79,000 after buying an additional 907 shares during the period. Finally, Global Retirement Partners LLC raised its stake in Hut 8 by 152.2% during the 3rd quarter. Global Retirement Partners LLC now owns 3,349 shares of the company’s stock worth $117,000 after buying an additional 2,021 shares during the period. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Hut 8 news, CFO Sean Joseph Glennan sold 4,625 shares of the business’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total transaction of $226,856.25. Following the sale, the chief financial officer directly owned 12,068 shares of the company’s stock, valued at $591,935.40. The trade was a 27.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Victor Semah sold 5,498 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $269,676.90. Following the transaction, the insider owned 24,796 shares of the company’s stock, valued at approximately $1,216,243.80. This represents a 18.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 11.20% of the stock is currently owned by company insiders.

Hut 8 Price Performance

Shares of HUT opened at $47.46 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.12. Hut 8 Corp. has a twelve month low of $10.04 and a twelve month high of $66.07. The stock has a market capitalization of $5.26 billion, a P/E ratio of -20.46 and a beta of 4.42. The company has a 50 day moving average of $54.39 and a 200-day moving average of $46.88.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Benchmark reissued a “buy” rating on shares of Hut 8 in a research note on Wednesday, December 17th. Roth Mkm restated a “buy” rating and set a $80.00 target price on shares of Hut 8 in a report on Tuesday, January 27th. HC Wainwright restated a “buy” rating and set a $80.00 price objective on shares of Hut 8 in a report on Thursday, February 26th. Canaccord Genuity Group boosted their price objective on shares of Hut 8 from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $65.00 target price 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, fifteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.56.

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.