Zweig DiMenna Associates LLC Acquires 508,700 Shares of Hut 8 Corp. $HUT

Zweig DiMenna Associates LLC raised its holdings in shares of Hut 8 Corp. (NASDAQ:HUT) by 256.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 707,000 shares of the company’s stock after purchasing an additional 508,700 shares during the quarter. Hut 8 accounts for approximately 1.7% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 12th largest holding. Zweig DiMenna Associates LLC’s holdings in Hut 8 were worth $24,611,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Arizona State Retirement System boosted its position in Hut 8 by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 29,290 shares of the company’s stock valued at $1,020,000 after buying an additional 542 shares during the period. Advisors Asset Management Inc. raised its position in Hut 8 by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $30,000 after purchasing an additional 655 shares in the last quarter. Main Management ETF Advisors LLC lifted its holdings in shares of Hut 8 by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 44,713 shares of the company’s stock worth $832,000 after buying an additional 732 shares during the period. Intech Investment Management LLC grew its position in shares of Hut 8 by 1.1% during the 2nd quarter. Intech Investment Management LLC now owns 66,957 shares of the company’s stock worth $1,245,000 after buying an additional 734 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of Hut 8 by 116.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,515 shares of the company’s stock valued at $28,000 after buying an additional 815 shares during the period. 31.75% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on HUT shares. B. Riley Financial increased their target price on shares of Hut 8 from $61.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Citigroup reissued an “outperform” rating on shares of Hut 8 in a report on Tuesday, October 21st. Wall Street Zen upgraded Hut 8 from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Piper Sandler reaffirmed an “overweight” rating on shares of Hut 8 in a research report on Thursday, December 18th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Hut 8 in a research report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Hut 8 has an average rating of “Buy” and a consensus price target of $62.35.

Hut 8 Stock Performance

Shares of HUT stock opened at $53.87 on Tuesday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14. The company has a market cap of $5.82 billion, a PE ratio of -138.13 and a beta of 4.42. Hut 8 Corp. has a 12-month low of $10.04 and a 12-month high of $66.07. The business’s fifty day simple moving average is $52.84 and its 200-day simple moving average is $42.06.

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.