Zweig DiMenna Associates LLC Trims Stock Position in Hut 8 Corp. $HUT

Zweig DiMenna Associates LLC reduced its stake in shares of Hut 8 Corp. (NASDAQ:HUT) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 672,750 shares of the company’s stock after selling 34,250 shares during the quarter. Hut 8 makes up about 1.9% of Zweig DiMenna Associates LLC’s holdings, making the stock its 13th biggest holding. Zweig DiMenna Associates LLC’s holdings in Hut 8 were worth $30,906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Intech Investment Management LLC grew its position in shares of Hut 8 by 29.3% in the 4th quarter. Intech Investment Management LLC now owns 36,392 shares of the company’s stock worth $1,672,000 after buying an additional 8,254 shares during the period. Thoroughbred Financial Services LLC purchased a new stake in shares of Hut 8 in the 4th quarter worth about $741,000. Geode Capital Management LLC grew its position in shares of Hut 8 by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 2,593,916 shares of the company’s stock worth $119,181,000 after buying an additional 79,591 shares during the period. GeoSphere Capital Management LLC grew its position in shares of Hut 8 by 64.3% in the 4th quarter. GeoSphere Capital Management LLC now owns 115,000 shares of the company’s stock worth $5,283,000 after buying an additional 45,000 shares during the period. Finally, Main Street Research LLC purchased a new stake in shares of Hut 8 in the 4th quarter worth about $413,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

Hut 8 Stock Performance

Shares of Hut 8 stock opened at $124.83 on Friday. The stock has a market cap of $14.05 billion, a price-to-earnings ratio of -41.61 and a beta of 4.48. The firm’s 50-day moving average is $78.59 and its 200 day moving average is $59.87. Hut 8 Corp. has a 1 year low of $14.74 and a 1 year high of $126.65. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). The firm had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. Sell-side analysts anticipate that Hut 8 Corp. will post -1.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on HUT shares. Canaccord Genuity Group upped their target price on shares of Hut 8 from $70.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen downgraded shares of Hut 8 from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Citizens Jmp upped their target price on shares of Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 7th. Northland Securities set a $120.00 target price on shares of Hut 8 in a research report on Thursday, May 7th. Finally, B. Riley Financial upped 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. Seventeen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.72.

Insider Activity at Hut 8

In other Hut 8 news, CFO Sean Joseph Glennan sold 4,625 shares of the company’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 transaction, the chief financial officer owned 12,068 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rick Rickertsen sold 17,491 shares of the company’s stock in a transaction dated 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 transaction, the director owned 17,491 shares in the company, valued at $1,924,010. This represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 74,628 shares of company stock worth $6,976,321 over the last quarter. 10.40% of the stock is currently owned by insiders.

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.