Wealth High Governance Capital Ltda Invests $14.62 Million in Hut 8 Corp. $HUT

Wealth High Governance Capital Ltda bought a new stake in Hut 8 Corp. (NASDAQ:HUT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 420,000 shares of the company’s stock, valued at approximately $14,620,000. Hut 8 comprises approximately 4.2% of Wealth High Governance Capital Ltda’s portfolio, making the stock its 8th largest holding. Wealth High Governance Capital Ltda owned 0.39% of Hut 8 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. increased its holdings in Hut 8 by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $30,000 after purchasing an additional 655 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Hut 8 by 235.8% in the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after purchasing an additional 1,719 shares in the last quarter. Global Retirement Partners LLC boosted its stake in 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 purchasing an additional 2,021 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of 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 purchasing an additional 2,186 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Hut 8 by 13.6% during the second quarter. Ameritas Investment Partners Inc. now owns 9,625 shares of the company’s stock worth $179,000 after purchasing an additional 1,150 shares during the last quarter. 31.75% of the stock is owned by institutional investors and hedge funds.

Hut 8 Trading Up 4.1%

Shares of HUT traded up $1.97 during trading hours on Friday, hitting $50.51. 1,052,245 shares of the stock traded hands, compared to its average volume of 5,068,185. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.12. Hut 8 Corp. has a 1-year low of $10.04 and a 1-year high of $66.07. The firm has a market capitalization of $5.60 billion, a PE ratio of -21.82 and a beta of 4.42. The business has a fifty day moving average of $55.30 and a 200-day moving average of $45.62.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on HUT shares. Wall Street Zen cut Hut 8 from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Craig Hallum reissued a “buy” rating and set a $80.00 price objective on shares of Hut 8 in a report on Thursday, December 18th. Piper Sandler reaffirmed an “overweight” rating on shares of Hut 8 in a research note on Thursday, December 18th. Benchmark reiterated a “buy” rating on shares of Hut 8 in a research report on Wednesday, December 17th. Finally, Keefe, Bruyette & Woods increased their price target 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. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.