Troluce Capital Advisors LLC Takes Position in Hut 8 Corp. $HUT

Troluce Capital Advisors LLC bought a new position in Hut 8 Corp. (NASDAQ:HUT) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 150,000 shares of the company’s stock, valued at approximately $7,036,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HUT. Northwestern Mutual Wealth Management Co. lifted its holdings in 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 acquiring an additional 4,062,367 shares during the period. Handelsbanken Fonder AB purchased a new stake in Hut 8 in the 4th quarter worth approximately $1,153,000. Steadview Capital Management LLC grew its stake in shares of Hut 8 by 1,425.3% during the 4th quarter. Steadview Capital Management LLC now owns 431,655 shares of the company’s stock worth $19,830,000 after purchasing an additional 403,355 shares during the period. GeoSphere Capital Management LLC grew its stake in shares of Hut 8 by 64.3% during the 4th quarter. GeoSphere Capital Management LLC now owns 115,000 shares of the company’s stock worth $5,283,000 after purchasing an additional 45,000 shares during the period. Finally, Thoroughbred Financial Services LLC acquired a new position in shares of Hut 8 in the 4th quarter valued at $741,000. 31.75% of the stock is owned by institutional investors and hedge funds.

Hut 8 Stock Performance

Shares of NASDAQ:HUT opened at $109.99 on Monday. Hut 8 Corp. has a 1 year low of $18.68 and a 1 year high of $140.80. The firm has a market capitalization of $12.38 billion, a price-to-earnings ratio of -36.66 and a beta of 4.62. 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 business’s 50 day moving average price is $111.59 and its 200-day moving average price is $79.46.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The company had revenue of $139.31 million during 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%. On average, equities research analysts forecast that Hut 8 Corp. will post -2.12 earnings per share for the current fiscal year.

Insider Activity at Hut 8

In other Hut 8 news, Director Amy Marie Wilkinson sold 20,000 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the transaction, the director directly owned 262,136 shares of the company’s stock, valued at $26,418,066.08. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Flinn sold 30,500 shares of Hut 8 stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the completion of the sale, the director owned 18,238 shares in the company, valued at approximately $2,119,437.98. This trade represents a 62.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 112,724 shares of company stock valued at $12,184,340. 10.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HUT. Jefferies Financial Group started coverage on shares of Hut 8 in a report on Thursday, May 14th. They set a “buy” rating and a $156.00 price target on the stock. BTIG Research upped their price objective on shares of Hut 8 from $115.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Piper Sandler increased their target price on shares of Hut 8 from $93.00 to $127.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Rosenblatt Securities reissued a “buy” rating and set a $124.00 target price on shares of Hut 8 in a research note on Tuesday, July 21st. Finally, Northland Securities set a $120.00 target price on Hut 8 in a research report on Thursday, May 7th. Eighteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $133.10.

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.