Hut 8 Corp. $HUT Stock Holdings Boosted by Moore Capital Management LP

Moore Capital Management LP grew its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 83.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 903,440 shares of the company’s stock after purchasing an additional 411,011 shares during the quarter. Moore Capital Management LP owned 0.84% of Hut 8 worth $31,449,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Millennium Management LLC lifted its holdings in shares of Hut 8 by 11.9% in the first quarter. Millennium Management LLC now owns 330,416 shares of the company’s stock valued at $3,839,000 after buying an additional 35,120 shares during the period. Bank of Montreal Can grew its holdings in Hut 8 by 21.7% during the second quarter. Bank of Montreal Can now owns 18,806 shares of the company’s stock worth $351,000 after acquiring an additional 3,358 shares during the period. ProShare Advisors LLC raised its position in Hut 8 by 10.2% in the second quarter. ProShare Advisors LLC now owns 19,330 shares of the company’s stock worth $360,000 after acquiring an additional 1,794 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Hut 8 by 13.7% in the 2nd quarter. Geode Capital Management LLC now owns 2,563,091 shares of the company’s stock valued at $47,679,000 after acquiring an additional 309,113 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its holdings in Hut 8 by 19.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 21,335 shares of the company’s stock valued at $397,000 after acquiring an additional 3,505 shares during the last quarter. Institutional investors own 31.75% of the company’s stock.

Insider Activity

In other Hut 8 news, CFO Sean Joseph Glennan sold 4,625 shares of Hut 8 stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the transaction, the chief financial officer owned 12,068 shares of the company’s stock, valued at $591,935.40. The trade was a 27.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Victor Semah sold 5,498 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $269,676.90. Following the completion of the transaction, the insider owned 24,796 shares in the company, valued at $1,216,243.80. This represents a 18.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 11.20% of the company’s stock.

Hut 8 Stock Up 5.9%

NASDAQ:HUT opened at $51.19 on Tuesday. The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of -22.06 and a beta of 4.42. Hut 8 Corp. has a 1-year low of $10.04 and a 1-year high of $66.07. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average price is $55.10 and its 200 day moving average price is $46.24.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating on shares of Hut 8 in a research note on Thursday, December 18th. B. Riley Financial increased their target price on shares of Hut 8 from $61.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Weiss Ratings cut shares of Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Rosenblatt Securities restated a “buy” rating and issued a $65.00 price target on shares of Hut 8 in a research report on Thursday, February 26th. Finally, Benchmark reaffirmed a “buy” rating on shares of Hut 8 in a report on Wednesday, December 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.