Intrinsic Edge Capital Management LLC Grows Stock Holdings in Hut 8 Corp. $HUT

Intrinsic Edge Capital Management LLC lifted its holdings in Hut 8 Corp. (NASDAQ:HUT) by 25.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 400,000 shares of the company’s stock after acquiring an additional 80,000 shares during the quarter. Hut 8 accounts for 1.9% of Intrinsic Edge Capital Management LLC’s holdings, making the stock its 11th biggest position. Intrinsic Edge Capital Management LLC owned approximately 0.37% of Hut 8 worth $13,924,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Nisa Investment Advisors LLC boosted its holdings in Hut 8 by 116.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,515 shares of the company’s stock valued at $28,000 after purchasing an additional 815 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Hut 8 by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $30,000 after buying an additional 655 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of 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 buying an additional 1,719 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Hut 8 by 152.2% in the third quarter. Global Retirement Partners LLC now owns 3,349 shares of the company’s stock worth $117,000 after buying an additional 2,021 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Hut 8 by 31.3% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,179 shares of the company’s stock worth $171,000 after acquiring an additional 2,186 shares during the period. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Stock Performance

NASDAQ:HUT opened at $47.60 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.09 and a current ratio of 1.09. The company has a fifty day moving average of $55.14 and a two-hundred day moving average of $44.59. The stock has a market capitalization of $5.28 billion, a PE ratio of -20.52 and a beta of 4.42. Hut 8 Corp. has a fifty-two week low of $10.04 and a fifty-two week high of $66.07.

Analyst Upgrades and Downgrades

HUT has been the subject of a number of analyst reports. BTIG Research reissued a “buy” rating and issued a $55.00 price target on shares of Hut 8 in a report on Wednesday, December 17th. Keefe, Bruyette & Woods boosted their target price on shares of Hut 8 from $55.00 to $75.00 and gave the company a “moderate buy” rating in a research note on Tuesday, January 27th. Canaccord Genuity Group increased their price target on shares of Hut 8 from $62.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Weiss Ratings cut shares of Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Finally, Benchmark reiterated a “buy” rating on shares of Hut 8 in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Hut 8 currently has an average rating of “Moderate Buy” and a consensus price target of $65.56.

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.