Canada Pension Plan Investment Board Invests $45.30 Million in Hut 8 Corp. $HUT

Canada Pension Plan Investment Board acquired a new stake in shares of Hut 8 Corp. (NASDAQ:HUT) during the second quarter, HoldingsChannel reports. The fund acquired 392,400 shares of the company’s stock, valued at approximately $45,301,000.

A number of other hedge funds also recently made changes to their positions in HUT. BlackRock Inc. purchased a new stake in Hut 8 in the 2nd quarter worth approximately $1,093,294,000. Vanguard Group Inc. lifted its holdings in Hut 8 by 3.2% during the fourth 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 in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Hut 8 by 4,669,387.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock valued at $186,629,000 after purchasing an additional 4,062,367 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Hut 8 by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock worth $104,133,000 after purchasing an additional 504,652 shares during the period. Finally, SRS Investment Management LLC bought a new position in shares of Hut 8 in the fourth quarter worth approximately $131,838,000. 31.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Hut 8 news, CFO Sean Joseph Glennan sold 6,445 shares of Hut 8 stock in a transaction on Monday, August 24th. The shares were sold at an average price of $78.76, for a total value of $507,608.20. Following the sale, the chief financial officer directly owned 17,978 shares in the company, valued at approximately $1,415,947.28. The trade was a 26.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Victor Semah sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the insider owned 31,378 shares in the company, valued at approximately $3,922,250. The trade was a 24.17% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 54,664 shares of company stock worth $6,212,160. 10.40% of the stock is owned by insiders.

Hut 8 Trading Up 2.5%

HUT stock opened at $87.13 on Friday. Hut 8 Corp. has a 1-year low of $24.20 and a 1-year high of $140.80. The company has a debt-to-equity ratio of 4.22, a current ratio of 19.35 and a quick ratio of 19.35. The company has a market capitalization of $10.74 billion, a price-to-earnings ratio of -15.99 and a beta of 4.64. The business has a 50 day simple moving average of $99.78 and a two-hundred day simple moving average of $85.07.

Hut 8 (NASDAQ:HUT) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The company had revenue of $72.66 million for the quarter, compared to the consensus estimate of $79.37 million. Hut 8 had a negative net margin of 188.59% and a negative return on equity of 0.97%. During the same quarter in the previous year, the business earned $1.18 EPS. Research analysts anticipate that Hut 8 Corp. will post -2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HUT shares. Weiss Ratings cut shares of Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 19th. Morgan Stanley assumed coverage on shares of Hut 8 in a research note on Thursday, July 23rd. They set an “overweight” rating and a $263.00 target price on the stock. BTIG Research upped their target price on shares of Hut 8 from $115.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Freedom Broker upgraded Hut 8 to a “strong-buy” rating in a research note on Tuesday, August 18th. Finally, Citizens Jmp raised their price target on Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a report on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $144.89.

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.