Hut 8 Corp. $HUT Holdings Decreased by Weiss Asset Management LP

Weiss Asset Management LP decreased its holdings in Hut 8 Corp. (NASDAQ:HUT) by 25.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 472,186 shares of the company’s stock after selling 164,160 shares during the period. Weiss Asset Management LP owned about 0.42% of Hut 8 worth $22,150,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Hut 8 by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock worth $366,526,000 after acquiring an additional 250,320 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Hut 8 by 4,669,387.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock valued at $186,629,000 after purchasing an additional 4,062,367 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Hut 8 by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock valued at $104,133,000 after purchasing an additional 504,652 shares in the last quarter. SRS Investment Management LLC acquired a new position in Hut 8 in the 4th quarter worth about $131,838,000. Finally, Sachem Head Capital Management LP acquired a new position in Hut 8 in the 4th quarter worth about $129,780,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HUT has been the subject of a number of recent research reports. Citigroup reaffirmed an “outperform” rating on shares of Hut 8 in a research note on Tuesday, April 28th. Piper Sandler increased their price objective on Hut 8 from $93.00 to $127.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Morgan Stanley assumed coverage on shares of Hut 8 in a research report on Thursday. They set an “overweight” rating and a $263.00 price objective on the stock. Compass Point set a $195.00 target price on shares of Hut 8 in a research note on Wednesday. Finally, B. Riley Financial boosted their target price on shares of Hut 8 from $76.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Eighteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $133.10.

Insider Activity

In other news, insider Victor Semah sold 10,518 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $76.83, for a total value of $808,097.94. Following the completion of the sale, the insider directly owned 41,378 shares in the company, valued at approximately $3,179,071.74. The trade was a 20.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Also, Director Joseph Flinn sold 30,500 shares of the company’s stock in a transaction on 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 sale, the director directly owned 18,238 shares of the company’s stock, valued at approximately $2,119,437.98. This represents a 62.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 112,724 shares of company stock worth $12,184,340. 10.40% of the stock is owned by company insiders.

Hut 8 Stock Performance

Shares of NASDAQ HUT opened at $109.99 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $12.38 billion, a price-to-earnings ratio of -36.66 and a beta of 4.62. The business’s 50-day simple moving average is $111.59 and its 200-day simple moving average is $79.31. Hut 8 Corp. has a 52 week low of $18.68 and a 52 week high of $140.80.

Hut 8 (NASDAQ:HUT) last posted 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). The company had revenue of $139.31 million during the quarter, compared to analyst estimates of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. As a group, equities research analysts expect that Hut 8 Corp. will post -2.12 earnings per share for the current fiscal year.

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.