Hut 8 Corp. $HUT Shares Purchased by Banco BTG Pactual S.A.

Banco BTG Pactual S.A. raised its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 608.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 85,000 shares of the company’s stock after purchasing an additional 73,000 shares during the period. Banco BTG Pactual S.A.’s holdings in Hut 8 were worth $3,905,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Hut 8 by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock valued at $366,526,000 after purchasing an additional 250,320 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Hut 8 by 4,669,387.4% during the 4th 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 period. Ameriprise Financial Inc. boosted its stake in Hut 8 by 20.3% during the 3rd 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 during the period. Geode Capital Management LLC lifted its stake 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 acquiring an additional 79,591 shares during the period. Finally, Value Aligned Research Advisors LLC lifted its stake in shares of Hut 8 by 110.2% in 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. 31.75% of the stock is owned by institutional investors and hedge funds.

Hut 8 Stock Up 10.1%

NASDAQ HUT opened at $116.31 on Friday. 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’s 50 day simple moving average is $91.47 and its 200 day simple moving average is $65.24. Hut 8 Corp. has a 12 month low of $15.26 and a 12 month high of $140.80. The company has a market capitalization of $13.10 billion, a P/E ratio of -38.77 and a beta of 4.61.

Hut 8 (NASDAQ:HUT) last released its earnings results 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 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 the consensus estimate of $78.53 million. Equities research analysts expect that Hut 8 Corp. will post -1.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Rick Rickertsen sold 17,491 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total value of $1,924,010.00. Following the sale, the director directly owned 17,491 shares in the company, valued at $1,924,010. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Victor Semah sold 10,518 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $76.83, for a total transaction of $808,097.94. Following the completion of the sale, the insider owned 41,378 shares in the company, valued at $3,179,071.74. The trade was a 20.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold 64,505 shares of company stock worth $6,479,788 in the last ninety days. 10.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

HUT has been the subject of a number of research analyst reports. B. Riley Financial upped their price target on shares of Hut 8 from $76.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Northland Securities set a $120.00 price target on shares of Hut 8 in a research note on Thursday, May 7th. Cantor Fitzgerald upped their price target on shares of Hut 8 from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Compass Point set a $130.00 price target on shares of Hut 8 in a research note on Wednesday, May 13th. Finally, Wall Street Zen lowered shares of Hut 8 from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Seventeen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.72.

Hut 8 Company 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.