Tactive Advisors LLC Has $3.44 Million Holdings in Hut 8 Corp. $HUT

Tactive Advisors LLC trimmed its holdings in shares of Hut 8 Corp. (NASDAQ:HUT) by 8.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,281 shares of the company’s stock after selling 7,200 shares during the period. Hut 8 makes up 1.0% of Tactive Advisors LLC’s investment portfolio, making the stock its 26th largest holding. Tactive Advisors LLC owned about 0.07% of Hut 8 worth $3,438,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of HUT. Harvest Portfolios Group Inc. boosted its stake in Hut 8 by 75.3% during the third quarter. Harvest Portfolios Group Inc. now owns 85,093 shares of the company’s stock worth $2,962,000 after acquiring an additional 36,543 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Hut 8 by 4,669,387.4% in 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 in the last quarter. Handelsbanken Fonder AB bought a new stake in Hut 8 in the fourth quarter valued at $1,153,000. Steadview Capital Management LLC raised its holdings in shares of Hut 8 by 1,425.3% during the fourth quarter. Steadview Capital Management LLC now owns 431,655 shares of the company’s stock valued at $19,830,000 after purchasing an additional 403,355 shares during the period. Finally, GeoSphere Capital Management LLC raised its holdings in shares of Hut 8 by 64.3% during the fourth quarter. GeoSphere Capital Management LLC now owns 115,000 shares of the company’s stock valued at $5,283,000 after purchasing an additional 45,000 shares during the period. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Price Performance

Shares of NASDAQ HUT opened at $124.44 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50-day moving average price of $99.89 and a 200-day moving average price of $68.59. The stock has a market capitalization of $14.01 billion, a P/E ratio of -41.48 and a beta of 4.61. Hut 8 Corp. has a 1 year low of $15.26 and a 1 year 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 analysts’ consensus estimates of ($0.33) by ($1.65). Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%.The business had revenue of $139.31 million during the quarter, compared to analyst estimates of $78.53 million. On average, equities research analysts forecast that Hut 8 Corp. will post -1.29 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Amy Marie Wilkinson sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $100.78, for a total value of $2,015,600.00. Following the transaction, the director owned 262,136 shares in the company, valued at $26,418,066.08. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Flinn sold 7,719 shares of Hut 8 stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $117.91, for a total value of $910,147.29. Following the transaction, the director directly owned 10,519 shares in the company, valued at approximately $1,240,295.29. The trade was a 42.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 112,724 shares of company stock valued at $12,184,340. Company insiders own 10.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Jefferies Financial Group initiated coverage on Hut 8 in a research report on Thursday, May 14th. They issued a “buy” rating and a $156.00 target price for the company. Piper Sandler increased their price target on Hut 8 from $93.00 to $127.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. BTIG Research raised their price objective on Hut 8 from $90.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Needham & Company LLC boosted their price objective on Hut 8 from $88.00 to $128.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Citigroup restated an “outperform” rating on shares of Hut 8 in a report on Tuesday, April 28th. Seventeen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. 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.