Delta Global Management LP Purchases Shares of 152,154 Hut 8 Corp. $HUT

Delta Global Management LP acquired a new position in shares of Hut 8 Corp. (NASDAQ:HUT) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 152,154 shares of the company’s stock, valued at approximately $5,296,000.

Several other hedge funds have also modified their holdings of the stock. Advisors Asset Management Inc. increased its position in Hut 8 by 68.4% during the second 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. boosted its holdings in shares of Hut 8 by 235.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock valued at $46,000 after purchasing an additional 1,719 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of Hut 8 by 152.2% in the 3rd quarter. Global Retirement Partners LLC now owns 3,349 shares of the company’s stock valued at $117,000 after purchasing an additional 2,021 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Hut 8 by 31.3% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,179 shares of the company’s stock valued at $171,000 after buying an additional 2,186 shares during the period. Finally, Ameritas Investment Partners Inc. grew its stake in shares of Hut 8 by 13.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,625 shares of the company’s stock valued at $179,000 after buying an additional 1,150 shares during the period. 31.75% of the stock is owned by institutional investors and hedge funds.

Hut 8 Stock Down 0.5%

Shares of Hut 8 stock opened at $48.32 on Monday. Hut 8 Corp. has a twelve month low of $10.04 and a twelve month high of $66.07. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of -20.83 and a beta of 4.42. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average price of $55.24 and a 200 day moving average price of $46.07.

Insider Transactions at Hut 8

In other news, CFO Sean Joseph Glennan sold 4,625 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $226,856.25. Following the completion of the sale, the chief financial officer owned 12,068 shares in the company, valued at approximately $591,935.40. This trade represents a 27.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victor Semah sold 5,498 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $269,676.90. Following the sale, the insider owned 24,796 shares in the company, valued at approximately $1,216,243.80. The trade was a 18.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 11.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HUT. Craig Hallum reaffirmed a “buy” rating and issued a $80.00 target price on shares of Hut 8 in a research report on Thursday, December 18th. Canaccord Genuity Group boosted their price target on Hut 8 from $62.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Rosenblatt Securities restated a “buy” rating and set a $65.00 price target on shares of Hut 8 in a research note on Thursday, February 26th. Wall Street Zen downgraded Hut 8 from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Finally, HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Hut 8 in a report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.