Intech Investment Management LLC Purchases 8,254 Shares of Hut 8 Corp. $HUT

Intech Investment Management LLC increased its position in Hut 8 Corp. (NASDAQ:HUT) by 29.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,392 shares of the company’s stock after purchasing an additional 8,254 shares during the quarter. Intech Investment Management LLC’s holdings in Hut 8 were worth $1,672,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Hut 8 by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock valued at $366,526,000 after purchasing an additional 250,320 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Hut 8 by 4,669,387.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock valued at $186,629,000 after acquiring an additional 4,062,367 shares during the period. Ameriprise Financial Inc. raised its holdings in Hut 8 by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock valued at $104,133,000 after acquiring an additional 504,652 shares during the period. Geode Capital Management LLC raised its holdings in Hut 8 by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 2,593,916 shares of the company’s stock valued at $119,181,000 after acquiring an additional 79,591 shares during the period. Finally, Value Aligned Research Advisors LLC raised its holdings in Hut 8 by 110.2% in the 3rd quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company’s stock valued at $67,845,000 after acquiring an additional 1,021,955 shares during the period. 31.75% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Rick Rickertsen sold 17,491 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the sale, the director owned 17,491 shares in the company, valued at approximately $1,924,010. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sean Joseph Glennan sold 4,625 shares of the stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the sale, the chief financial officer owned 12,068 shares in the company, valued at $591,935.40. This represents a 27.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 74,628 shares of company stock worth $6,976,321. Insiders own 10.40% of the company’s stock.

Hut 8 Stock Down 2.7%

Shares of HUT opened at $127.76 on Friday. Hut 8 Corp. has a 12 month low of $15.26 and a 12 month high of $140.80. The firm’s 50 day moving average is $85.01 and its 200-day moving average is $62.53. The stock has a market capitalization of $14.38 billion, a PE ratio of -42.59 and a beta of 4.61. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12.

Hut 8 (NASDAQ:HUT) last announced its earnings results on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The business had revenue of $139.31 million for the quarter, compared to the consensus estimate of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. Equities research analysts forecast that Hut 8 Corp. will post -1.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HUT. Needham & Company LLC increased their price target on shares of Hut 8 from $88.00 to $128.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Jefferies Financial Group began coverage on shares of Hut 8 in a report on Thursday, May 14th. They issued a “buy” rating and a $156.00 price target on the stock. Citigroup reissued an “outperform” rating on shares of Hut 8 in a report on Tuesday, April 28th. Cantor Fitzgerald increased their price target on shares of Hut 8 from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Finally, Weiss Ratings cut shares of Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Seventeen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.72.

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.