Hut 8 Corp. $HUT Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC raised its stake in Hut 8 Corp. (NASDAQ:HUT) by 1,956.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 240,348 shares of the company’s stock after purchasing an additional 228,660 shares during the period. SG Americas Securities LLC’s holdings in Hut 8 were worth $11,275,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Hut 8 by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock valued at $366,526,000 after buying an additional 250,320 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised 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 worth $186,629,000 after acquiring an additional 4,062,367 shares in the last quarter. Ameriprise Financial Inc. raised 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 worth $104,133,000 after acquiring an additional 504,652 shares in the last quarter. SRS Investment Management LLC purchased a new stake in Hut 8 in the fourth quarter valued at $131,838,000. Finally, Sachem Head Capital Management LP purchased a new stake in Hut 8 in the fourth quarter valued at $129,780,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Trading Up 4.5%

NASDAQ HUT opened at $123.02 on Friday. 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 firm has a market cap of $13.85 billion, a PE ratio of -41.01 and a beta of 4.61. Hut 8 Corp. has a one year low of $17.42 and a one year high of $140.80. The firm’s fifty day moving average is $105.01 and its two-hundred day moving average is $71.15.

Hut 8 (NASDAQ:HUT) last announced its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $78.53 million. Analysts expect that Hut 8 Corp. will post -1.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HUT. Citigroup reaffirmed an “outperform” rating on shares of Hut 8 in a report on Tuesday, April 28th. Loop Capital set a $226.00 target price on Hut 8 in a research report on Monday. Needham & Company LLC raised their price target on Hut 8 from $88.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Cantor Fitzgerald lifted their price target on Hut 8 from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Finally, Arete Research initiated coverage on Hut 8 in a research note on Monday, March 23rd. They issued a “buy” rating and a $136.00 price objective for the company. Seventeen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.79.

Insider Buying and Selling

In other Hut 8 news, Director Amy Marie Wilkinson sold 20,000 shares of Hut 8 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 directly owned 262,136 shares in the company, valued at approximately $26,418,066.08. This trade represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the director directly owned 17,491 shares in the company, valued at approximately $1,924,010. The trade was a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 112,724 shares of company stock valued at $12,184,340 in 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.