Hut 8 Corp. $HUT Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. raised its position in Hut 8 Corp. (NASDAQ:HUT) by 4,669,387.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,062,454 shares of the company’s stock after acquiring an additional 4,062,367 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Hut 8 were worth $186,629,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of HUT. GAMMA Investing LLC acquired a new position in shares of Hut 8 in the 4th quarter worth approximately $30,000. Activest Wealth Management acquired a new position in shares of Hut 8 in the 4th quarter worth approximately $49,000. Danske Bank A S acquired a new position in shares of Hut 8 in the 4th quarter worth approximately $51,000. CWM LLC lifted its holdings in shares of Hut 8 by 37.4% in the 4th quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after acquiring an additional 301 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Hut 8 by 1,578.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,393 shares of the company’s stock worth $64,000 after acquiring an additional 1,310 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hut 8

In other Hut 8 news, CFO Sean Joseph Glennan sold 4,625 shares of the 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 $226,856.25. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Rick Rickertsen sold 17,491 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the completion of the sale, the director directly owned 17,491 shares in the company, valued at approximately $1,924,010. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 54,628 shares of company stock valued at $4,960,721. Insiders own 10.40% of the company’s stock.

Hut 8 Trading Down 6.3%

Shares of NASDAQ:HUT opened at $102.47 on Friday. Hut 8 Corp. has a 52 week low of $14.74 and a 52 week high of $112.26. The company’s 50 day moving average is $66.88 and its two-hundred day moving average is $55.72. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The company has a market cap of $11.54 billion, a PE ratio of -34.16 and a beta of 4.48.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. The firm had revenue of $139.31 million during the quarter, compared to analysts’ expectations of $78.53 million. Equities analysts predict that Hut 8 Corp. will post -2.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HUT has been the topic of several recent analyst reports. Arete Research initiated coverage on shares of Hut 8 in a report on Monday, March 23rd. They issued a “buy” rating and a $136.00 price objective on the stock. Canaccord Genuity Group upped their price objective on shares of Hut 8 from $70.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Citizens Jmp upped their price objective on shares of Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a report on Thursday, May 7th. Needham & Company LLC upped their price objective on shares of Hut 8 from $88.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, BTIG Research upped their price objective on shares of Hut 8 from $90.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.72.

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.