Hut 8 Corp. $HUT Shares Bought by GeoSphere Capital Management LLC

GeoSphere Capital Management LLC grew its stake in Hut 8 Corp. (NASDAQ:HUT) by 64.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 115,000 shares of the company’s stock after buying an additional 45,000 shares during the period. Hut 8 accounts for about 1.7% of GeoSphere Capital Management LLC’s holdings, making the stock its 8th biggest holding. GeoSphere Capital Management LLC’s holdings in Hut 8 were worth $5,283,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake in Hut 8 by 1.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock worth $734,000 after purchasing an additional 254 shares during the period. CWM LLC grew its stake in Hut 8 by 37.4% during the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after purchasing an additional 301 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Hut 8 by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock worth $331,000 after purchasing an additional 321 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Hut 8 by 1.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock worth $996,000 after purchasing an additional 362 shares during the period. Finally, Arizona State Retirement System grew its stake in Hut 8 by 1.9% during the third quarter. Arizona State Retirement System now owns 29,290 shares of the company’s stock worth $1,020,000 after purchasing an additional 542 shares during the period. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Stock Performance

Shares of Hut 8 stock opened at $105.90 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. Hut 8 Corp. has a 52 week low of $14.74 and a 52 week high of $112.26. The stock has a 50 day moving average price of $71.87 and a two-hundred day moving average price of $57.46. The stock has a market capitalization of $11.92 billion, a PE ratio of -35.30 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 analyst estimates of $78.53 million. As a group, equities analysts anticipate that Hut 8 Corp. will post -1.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Hut 8

In other news, Director Rick Rickertsen sold 17,491 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 17,491 shares in the company, valued at $1,924,010. This trade represents a 50.00% 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, insider Victor Semah sold 10,518 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $76.83, for a total value of $808,097.94. Following the completion of the transaction, the insider owned 41,378 shares in the company, valued at $3,179,071.74. This represents a 20.27% decrease in their position. 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. Over the last quarter, insiders sold 54,628 shares of company stock valued at $4,960,721. Company insiders own 10.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HUT shares. Cantor Fitzgerald raised their target price on Hut 8 from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Arete Research started coverage on Hut 8 in a research note on Monday, March 23rd. They set a “buy” rating and a $136.00 target price for the company. Keefe, Bruyette & Woods raised their target price on Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, January 27th. Needham & Company LLC raised their target price on Hut 8 from $88.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $80.00 target price on shares of Hut 8 in a research note on Tuesday, January 27th. Seventeen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Hut 8 presently has an average rating of “Moderate Buy” and a consensus price target of $107.72.

About Hut 8

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.