Hut 8 Corp. $HUT Shares Sold by Moore Capital Management LP

Moore Capital Management LP lowered its stake in Hut 8 Corp. (NASDAQ:HUT) by 16.7% during the fourth quarter, HoldingsChannel reports. The firm owned 753,000 shares of the company’s stock after selling 150,440 shares during the quarter. Hut 8 comprises approximately 0.5% of Moore Capital Management LP’s portfolio, making the stock its 28th biggest holding. Moore Capital Management LP’s holdings in Hut 8 were worth $34,593,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings 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 valued at $366,526,000 after purchasing an additional 250,320 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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 during the period. Ameriprise Financial Inc. increased its holdings in shares of 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 during the period. Sachem Head Capital Management LP acquired a new position in shares of Hut 8 in the fourth quarter valued at approximately $129,780,000. Finally, Value Aligned Research Advisors LLC boosted its stake in shares of Hut 8 by 43.1% in the fourth quarter. Value Aligned Research Advisors LLC now owns 2,788,516 shares of the company’s stock valued at $128,104,000 after buying an additional 839,521 shares in the last quarter. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Stock Down 2.1%

HUT opened at $118.88 on Thursday. The business’s fifty day moving average is $97.20 and its two-hundred day moving average is $67.46. 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 company has a market cap of $13.38 billion, a price-to-earnings ratio of -39.63 and a beta of 4.61. Hut 8 Corp. has a one year low of $15.26 and a one year high of $140.80.

Hut 8 (NASDAQ:HUT) last posted 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). The firm had revenue of $139.31 million for the quarter, compared to analysts’ expectations of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. Analysts anticipate that Hut 8 Corp. will post -1.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HUT. B. Riley Financial lifted their price target on Hut 8 from $76.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. HC Wainwright restated a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research note on Thursday, February 26th. BTIG Research lifted their price target on Hut 8 from $90.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Citizens Jmp lifted their price target on Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a research note on Thursday, May 7th. Finally, Arete Research began coverage on Hut 8 in a research note on Monday, March 23rd. They issued a “buy” rating and a $136.00 price target on the stock. 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.72.

Insider Transactions at Hut 8

In other Hut 8 news, Director Amy Marie Wilkinson sold 20,000 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the sale, the director directly owned 262,136 shares in the company, valued at approximately $26,418,066.08. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rick Rickertsen sold 17,491 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total value of $1,924,010.00. Following the sale, the director owned 17,491 shares in the company, valued at approximately $1,924,010. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 102,724 shares of company stock valued at $10,934,340 in the last three months. 10.40% of the stock is owned by company insiders.

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.