State of New Jersey Common Pension Fund D Takes $2.56 Million Position in Hut 8 Corp. $HUT

State of New Jersey Common Pension Fund D purchased a new stake in shares of Hut 8 Corp. (NASDAQ:HUT) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 55,776 shares of the company’s stock, valued at approximately $2,562,000.

Several other institutional investors have also recently made changes to their positions in HUT. Millennium Management LLC raised its position in shares of Hut 8 by 11.9% during the 1st quarter. Millennium Management LLC now owns 330,416 shares of the company’s stock valued at $3,839,000 after buying an additional 35,120 shares during the period. Prudential Financial Inc. acquired a new stake in Hut 8 in the 2nd quarter valued at approximately $216,000. Russell Investments Group Ltd. increased its holdings in Hut 8 by 235.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock valued at $46,000 after purchasing an additional 1,719 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Hut 8 by 19.9% in the second quarter. New York State Common Retirement Fund now owns 32,540 shares of the company’s stock worth $605,000 after acquiring an additional 5,400 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Hut 8 by 13.2% in the second quarter. Invesco Ltd. now owns 1,067,985 shares of the company’s stock worth $19,865,000 after acquiring an additional 124,439 shares in the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Insider Buying and Selling at Hut 8

In other news, insider Victor Semah sold 10,518 shares of Hut 8 stock in a transaction on Monday, May 4th. The shares were sold at an average price of $76.83, for a total transaction of $808,097.94. Following the completion of the sale, the insider directly owned 41,378 shares of the company’s stock, valued at approximately $3,179,071.74. The trade was a 20.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, CFO Sean Joseph Glennan sold 4,625 shares of Hut 8 stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the sale, the chief financial officer directly owned 12,068 shares of the company’s stock, valued at approximately $591,935.40. This trade represents a 27.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 20,641 shares of company stock valued at $1,304,631. Corporate insiders own 11.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Cantor Fitzgerald boosted 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. B. Riley Financial boosted their price target on shares of Hut 8 from $61.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Rosenblatt Securities restated a “buy” rating and issued a $65.00 price target on shares of Hut 8 in a research note on Thursday, February 26th. BTIG Research boosted their price target on shares of Hut 8 from $90.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Arete Research assumed coverage on shares of Hut 8 in a research note on Monday, March 23rd. They issued a “buy” rating and a $136.00 price target for the company. Sixteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $80.06.

Hut 8 Stock Performance

NASDAQ:HUT opened at $108.94 on Thursday. The company has a market cap of $12.26 billion, a price-to-earnings ratio of -46.96 and a beta of 4.48. The company has a fifty day simple moving average of $59.84 and a two-hundred day simple moving average of $52.89. Hut 8 Corp. has a 52 week low of $12.45 and a 52 week high of $111.33. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.12.

Key Stories Impacting Hut 8

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Signed a 15?year, triple?net, take?or?pay lease for 352 MW at the Beacon Point (Texas) campus with a high investment?grade tenant — a base?term contract value of $9.8 billion that expands Hut 8’s contracted AI capacity and validates its power?first development model. Beacon Point Lease
• Positive Sentiment: Closed $3.25 billion of fully amortizing, 16.5?year investment?grade senior secured notes (?95% loan?to?cost) to finance the River Bend campus — non?dilutive, non?recourse project financing that de?risks growth and supports delivery of additional AI capacity. Quarterly Results & Financing
• Positive Sentiment: Wall Street responded: BTIG and Piper Sandler raised price targets and reiterated buy/overweight views, signaling analyst conviction after the lease and financing announcements. Analyst Coverage
• Neutral Sentiment: Secured a $200M, 364?day bitcoin?backed credit facility with FalconX at a 7% rate, replacing prior financing and improving short?term liquidity and BTC access. FalconX Facility
• Neutral Sentiment: Q1 results were mixed: the company reported higher revenue (reflecting early commercialization and data?center activity) but showed a quarterly EPS shortfall on certain metrics; investors are focusing on the pipeline and contract backlog rather than near?term EPS. Q1 Results
• Negative Sentiment: Insider sold 10,518 shares under a pre?arranged Rule 10b5?1 plan to cover tax obligations — disclosed selling can be interpreted negatively by some investors even though it was routine/plan?based. Insider Sale Filing

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.