Hut 8 Corp. $HUT Shares Acquired by Intrinsic Edge Capital Management LLC

Intrinsic Edge Capital Management LLC grew its position in Hut 8 Corp. (NASDAQ:HUT) by 25.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 400,000 shares of the company’s stock after acquiring an additional 80,000 shares during the quarter. Hut 8 comprises 1.9% of Intrinsic Edge Capital Management LLC’s holdings, making the stock its 11th largest position. Intrinsic Edge Capital Management LLC’s holdings in Hut 8 were worth $13,924,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its stake in Hut 8 by 116.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,515 shares of the company’s stock valued at $28,000 after purchasing an additional 815 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in Hut 8 by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock worth $30,000 after purchasing an additional 655 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Hut 8 by 235.8% during the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after buying an additional 1,719 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Hut 8 by 152.2% during the third quarter. Global Retirement Partners LLC now owns 3,349 shares of the company’s stock worth $117,000 after buying an additional 2,021 shares in the last quarter. Finally, Plancorp LLC acquired a new stake in shares of Hut 8 in the third quarter valued at about $209,000. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Hut 8 Trading Down 9.7%

Shares of Hut 8 stock opened at $47.60 on Wednesday. The stock has a 50 day moving average of $55.14 and a 200 day moving average of $44.59. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of -20.52 and a beta of 4.42. Hut 8 Corp. has a fifty-two week low of $10.04 and a fifty-two week high of $66.07.

Wall Street Analysts Forecast Growth

HUT has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Hut 8 from a “hold” rating to a “sell” rating in a research report on Saturday. Keefe, Bruyette & Woods raised their target price on shares of Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, January 27th. Craig Hallum restated a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research report on Thursday, December 18th. Northland Securities set a $58.00 price target on Hut 8 in a report on Wednesday, November 5th. Finally, Weiss Ratings lowered Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $65.56.

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.