SPX Gestao de Recursos Ltda Takes $2.12 Million Position in Hut 8 Corp. $HUT

SPX Gestao de Recursos Ltda bought a new position in shares of Hut 8 Corp. (NASDAQ:HUT) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 60,800 shares of the company’s stock, valued at approximately $2,116,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in Hut 8 by 1.9% in the third quarter. Dimensional Fund Advisors LP now owns 313,912 shares of the company’s stock valued at $10,927,000 after purchasing an additional 5,917 shares during the last quarter. Intrinsic Edge Capital Management LLC raised its position in shares of Hut 8 by 25.0% in the 3rd quarter. Intrinsic Edge Capital Management LLC now owns 400,000 shares of the company’s stock valued at $13,924,000 after purchasing an additional 80,000 shares in the last quarter. Harvest Portfolios Group Inc. boosted its stake in shares of Hut 8 by 75.3% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 85,093 shares of the company’s stock valued at $2,962,000 after buying an additional 36,543 shares during the last quarter. Xponance Inc. purchased a new position in shares of Hut 8 during the 3rd quarter valued at approximately $256,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Hut 8 by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock worth $331,000 after buying an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Trading Down 8.4%

Hut 8 stock opened at $47.07 on Friday. Hut 8 Corp. has a 1 year low of $10.04 and a 1 year high of $66.07. The firm’s 50-day moving average is $55.09 and its 200-day moving average is $44.86. 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 market cap of $5.22 billion, a P/E ratio of -20.29 and a beta of 4.42.

Analyst Ratings Changes

A number of research firms have commented on HUT. Needham & Company LLC increased their price objective on shares of Hut 8 from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Keefe, Bruyette & Woods increased their price target on shares of Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a research report on Tuesday, January 27th. Wall Street Zen lowered Hut 8 from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Canaccord Genuity Group upped their price objective on Hut 8 from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Hut 8 in a research report on Thursday, December 18th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.56.

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.