Meeder Asset Management Inc. Grows Position in Hut 8 Corp. $HUT

Meeder Asset Management Inc. raised its stake in shares of Hut 8 Corp. (NASDAQ:HUT) by 1,092.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 55,909 shares of the company’s stock after purchasing an additional 51,221 shares during the period. Meeder Asset Management Inc.’s holdings in Hut 8 were worth $2,623,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in shares of Hut 8 by 11.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 207,619 shares of the company’s stock valued at $9,717,000 after buying an additional 20,813 shares in the last quarter. Swiss National Bank grew its stake in shares of Hut 8 by 0.4% during the 1st quarter. Swiss National Bank now owns 195,940 shares of the company’s stock valued at $9,192,000 after acquiring an additional 800 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Hut 8 by 9.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,198 shares of the company’s stock worth $436,000 after acquiring an additional 823 shares in the last quarter. Independent Financial Group LLC purchased a new stake in Hut 8 in the 1st quarter worth approximately $561,000. Finally, Fifth Third Bancorp raised its stake in Hut 8 by 51.9% during the 1st quarter. Fifth Third Bancorp now owns 3,038 shares of the company’s stock worth $143,000 after acquiring an additional 1,038 shares during the period. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Stock Performance

NASDAQ HUT opened at $91.45 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. Hut 8 Corp. has a 1-year low of $18.68 and a 1-year high of $140.80. The business has a 50 day simple moving average of $111.24 and a two-hundred day simple moving average of $77.35. The stock has a market capitalization of $10.30 billion, a PE ratio of -30.48 and a beta of 4.62.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The firm had revenue of $139.31 million for the quarter, compared to analysts’ expectations of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. On average, research analysts predict that Hut 8 Corp. will post -1.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Jefferies Financial Group started coverage on shares of Hut 8 in a report on Thursday, May 14th. They set a “buy” rating and a $156.00 price target on the stock. Citigroup reissued an “outperform” rating on shares of Hut 8 in a research note on Tuesday, April 28th. Arete Research began coverage on shares of Hut 8 in a research report on Monday, March 23rd. They set a “buy” rating and a $136.00 price objective on the stock. Benchmark lifted their target price on shares of Hut 8 from $85.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $124.00 target price on shares of Hut 8 in a report on Thursday, June 11th. Seventeen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $120.37.

Insider Buying and Selling at Hut 8

In other Hut 8 news, insider Victor Semah sold 10,000 shares of the stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the insider owned 31,378 shares in the company, valued at $3,922,250. This trade represents a 24.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Amy Marie Wilkinson sold 20,000 shares of Hut 8 stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the completion of the transaction, the director directly owned 262,136 shares of the company’s stock, valued at $26,418,066.08. The trade was a 7.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 112,724 shares of company stock worth $12,184,340. Company insiders own 10.40% of the company’s stock.

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.