Intech Investment Management LLC Has $1.67 Million Stock Position in Hut 8 Corp. $HUT

Intech Investment Management LLC raised its stake in Hut 8 Corp. (NASDAQ:HUT) by 29.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 36,392 shares of the company’s stock after buying an additional 8,254 shares during the period. Intech Investment Management LLC’s holdings in Hut 8 were worth $1,672,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in Hut 8 in the fourth quarter valued at approximately $30,000. Activest Wealth Management bought a new position in shares of Hut 8 during the fourth quarter valued at $49,000. Danske Bank A S bought a new position in shares of Hut 8 during the fourth quarter valued at $51,000. CWM LLC raised its stake in shares of Hut 8 by 37.4% during the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock valued at $51,000 after acquiring an additional 301 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Hut 8 by 1,578.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,393 shares of the company’s stock valued at $64,000 after acquiring an additional 1,310 shares during the last quarter. Institutional investors and hedge funds own 31.75% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on HUT. HC Wainwright reaffirmed a “buy” rating and set a $80.00 price target on shares of Hut 8 in a research note on Thursday, February 26th. Jefferies Financial Group began coverage on shares of Hut 8 in a research note on Thursday, May 14th. They set a “buy” rating and a $156.00 price target for the company. Wall Street Zen downgraded shares of Hut 8 from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. B. Riley Financial lifted their target price on shares of Hut 8 from $76.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings downgraded shares of Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Seventeen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $107.72.

Insider Activity at Hut 8

In other Hut 8 news, Director Rick Rickertsen sold 17,491 shares of Hut 8 stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total value of $1,924,010.00. Following the completion of the sale, the director directly owned 17,491 shares of the company’s stock, valued at approximately $1,924,010. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amy Marie Wilkinson sold 20,000 shares of Hut 8 stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the completion of the sale, the director directly owned 262,136 shares of the company’s stock, valued at approximately $26,418,066.08. This trade represents a 7.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 74,628 shares of company stock valued at $6,976,321. 10.40% of the stock is currently owned by company insiders.

Hut 8 Price Performance

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

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

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.