Delta Global Management LP Makes New $5.30 Million Investment in Hut 8 Corp. $HUT

Delta Global Management LP bought a new stake in Hut 8 Corp. (NASDAQ:HUT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 152,154 shares of the company’s stock, valued at approximately $5,296,000. Delta Global Management LP owned about 0.14% of Hut 8 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. Azora Capital LP purchased a new stake in shares of Hut 8 in the 3rd quarter worth about $8,547,000. Boothbay Fund Management LLC acquired a new stake in Hut 8 in the 3rd quarter valued at about $238,000. Algert Global LLC purchased a new position in Hut 8 during the 3rd quarter valued at about $996,000. Alliancebernstein L.P. raised its position in Hut 8 by 16.9% during the third quarter. Alliancebernstein L.P. now owns 101,160 shares of the company’s stock worth $3,521,000 after acquiring an additional 14,594 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Hut 8 by 20.3% during the third quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock worth $104,133,000 after acquiring an additional 504,652 shares during the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Stock Performance

NASDAQ:HUT opened at $48.32 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $5.36 billion, a PE ratio of -20.83 and a beta of 4.42. The firm has a 50 day simple moving average of $55.24 and a 200-day simple moving average of $46.07. Hut 8 Corp. has a 1-year low of $10.04 and a 1-year high of $66.07.

Insider Activity at Hut 8

In other Hut 8 news, CFO Sean Joseph Glennan sold 4,625 shares of the business’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $226,856.25. Following the completion of the transaction, the chief financial officer directly owned 12,068 shares in the company, valued at approximately $591,935.40. The trade was a 27.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Victor Semah sold 5,498 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $269,676.90. Following the transaction, the insider directly owned 24,796 shares in the company, valued at approximately $1,216,243.80. This represents a 18.15% decrease in their position. The SEC filing for this sale provides additional information. 11.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HUT has been the topic of several research reports. Piper Sandler reiterated an “overweight” rating on shares of Hut 8 in a research report on Thursday, December 18th. Keefe, Bruyette & Woods lifted their price objective on Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a research report on Tuesday, January 27th. Needham & Company LLC upped their target price on Hut 8 from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Canaccord Genuity Group increased their target price on Hut 8 from $62.00 to $70.00 and gave the company a “buy” rating in a report on Friday, February 27th. Finally, HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Hut 8 in a research report on Thursday, February 26th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Hut 8 has an average rating of “Moderate Buy” and a consensus target price of $65.56.

About Hut 8

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.