Wealth High Governance Capital Ltda Buys Shares of 420,000 Hut 8 Corp. $HUT

Wealth High Governance Capital Ltda bought a new position in shares of Hut 8 Corp. (NASDAQ:HUT) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 420,000 shares of the company’s stock, valued at approximately $14,620,000. Hut 8 comprises 4.2% of Wealth High Governance Capital Ltda’s holdings, making the stock its 8th largest holding.

Several other institutional investors also recently modified their holdings of HUT. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Hut 8 by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock valued at $331,000 after acquiring an additional 321 shares during the last quarter. Arizona State Retirement System boosted its stake in Hut 8 by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 29,290 shares of the company’s stock worth $1,020,000 after acquiring an additional 542 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Hut 8 by 68.4% during the second 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 during the period. Main Management ETF Advisors LLC grew its holdings in Hut 8 by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 44,713 shares of the company’s stock valued at $832,000 after purchasing an additional 732 shares during the period. Finally, Intech Investment Management LLC increased its stake in Hut 8 by 1.1% in the second quarter. Intech Investment Management LLC now owns 66,957 shares of the company’s stock valued at $1,245,000 after purchasing an additional 734 shares in the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Stock Up 4.1%

HUT traded up $1.97 during trading on Friday, reaching $50.51. The company had a trading volume of 1,052,245 shares, compared to its average volume of 5,068,185. The company has a market cap of $5.60 billion, a P/E ratio of -21.82 and a beta of 4.42. Hut 8 Corp. has a 12 month low of $10.04 and a 12 month high of $66.07. 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 business’s fifty day moving average price is $55.30 and its 200 day moving average price is $45.62.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a report on Tuesday, January 27th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a research report on Thursday, February 26th. Needham & Company LLC raised their price objective on Hut 8 from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Piper Sandler reiterated an “overweight” rating on shares of Hut 8 in a report on Thursday, December 18th. Finally, B. Riley Financial boosted their target price on Hut 8 from $61.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have given 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 $65.56.

Insiders Place Their Bets

In related news, insider Victor Semah sold 5,498 shares of the firm’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 directly owned 24,796 shares in the company, valued at $1,216,243.80. This trade represents a 18.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Sean Joseph Glennan sold 4,625 shares of the business’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 $226,856.25. Following the completion of the sale, the chief financial officer directly owned 12,068 shares in the company, valued at $591,935.40. This represents a 27.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 11.20% of the company’s stock.

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.