Wealth High Governance Capital Ltda Trims Stake in Hut 8 Corp. $HUT

Wealth High Governance Capital Ltda decreased its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 12.8% during the fourth quarter, Holdings Channel reports. The fund owned 366,157 shares of the company’s stock after selling 53,843 shares during the period. Hut 8 makes up about 3.1% of Wealth High Governance Capital Ltda’s holdings, making the stock its 11th biggest holding. Wealth High Governance Capital Ltda’s holdings in Hut 8 were worth $16,821,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HUT. Ameriprise Financial Inc. grew its holdings in shares of Hut 8 by 1,043.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company’s stock worth $46,255,000 after acquiring an additional 2,269,237 shares during the period. Value Aligned Research Advisors LLC grew its holdings in shares of Hut 8 by 110.2% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company’s stock worth $67,845,000 after acquiring an additional 1,021,955 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of Hut 8 during the 3rd quarter worth approximately $35,044,000. Nishkama Capital LLC purchased a new position in shares of Hut 8 during the 3rd quarter worth approximately $28,137,000. Finally, Thames Capital Management LLC bought a new stake in shares of Hut 8 in the 3rd quarter worth approximately $25,084,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Wall Street Analysts Forecast Growth

HUT has been the topic of a number of analyst reports. Wall Street Zen cut Hut 8 from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Canaccord Genuity Group boosted their price target on Hut 8 from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Arete Research initiated coverage on Hut 8 in a research report on Monday, March 23rd. They issued a “buy” rating and a $136.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research report on Thursday, February 26th. Finally, Needham & Company LLC boosted their price target on Hut 8 from $60.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Sixteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Hut 8 has a consensus rating of “Moderate Buy” and a consensus target price of $76.38.

Hut 8 Stock Performance

HUT stock opened at $71.00 on Thursday. The stock has a market capitalization of $7.87 billion, a PE ratio of -30.60 and a beta of 4.38. Hut 8 Corp. has a 12-month low of $11.86 and a 12-month high of $83.18. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.12. The stock’s 50 day simple moving average is $57.79 and its 200 day simple moving average is $52.08.

Insider Activity at Hut 8

In related news, CFO Sean Joseph Glennan sold 4,625 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $226,856.25. Following the transaction, the chief financial officer directly owned 12,068 shares of the company’s stock, valued at approximately $591,935.40. This represents a 27.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Victor Semah sold 5,498 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $269,676.90. Following the completion of the transaction, the insider directly owned 24,796 shares in the company, valued at $1,216,243.80. This trade represents a 18.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 11.20% of the company’s stock.

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.