Hut 8 Corp. $HUT Stake Boosted by Moore Capital Management LP

Moore Capital Management LP lifted its stake in Hut 8 Corp. (NASDAQ:HUT) by 83.5% during the third quarter, HoldingsChannel reports. The fund owned 903,440 shares of the company’s stock after purchasing an additional 411,011 shares during the quarter. Moore Capital Management LP’s holdings in Hut 8 were worth $31,449,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in Hut 8 by 1.8% in the third quarter. Vanguard Group Inc. now owns 7,728,037 shares of the company’s stock valued at $269,013,000 after purchasing an additional 140,248 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Hut 8 by 20.3% during the 3rd 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of Hut 8 by 13.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,563,091 shares of the company’s stock worth $47,679,000 after purchasing an additional 309,113 shares in the last quarter. Value Aligned Research Advisors LLC lifted its holdings in shares of Hut 8 by 59.8% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 1,481,712 shares of the company’s stock valued at $51,578,000 after buying an additional 554,672 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Hut 8 by 13.2% during the 2nd quarter. Invesco Ltd. now owns 1,067,985 shares of the company’s stock valued at $19,865,000 after buying an additional 124,439 shares during the last quarter. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Hut 8 Stock Up 5.9%

HUT stock opened at $51.19 on Tuesday. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of -22.06 and a beta of 4.42. The company has a 50-day moving average of $55.10 and a two-hundred day moving average of $46.24. Hut 8 Corp. has a 52-week low of $10.04 and a 52-week 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.

Analyst Ratings Changes

HUT has been the topic of a number of research reports. BTIG Research restated a “buy” rating and issued a $55.00 price objective on shares of Hut 8 in a report on Wednesday, December 17th. Needham & Company LLC lifted their target price on shares of Hut 8 from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Roth Mkm reissued a “buy” rating and issued a $80.00 target price on shares of Hut 8 in a research report on Tuesday, January 27th. B. Riley Financial increased their price target on shares of Hut 8 from $61.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Finally, Craig Hallum restated a “buy” rating and set a $80.00 price target on shares of Hut 8 in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.56.

Insiders Place Their Bets

In related news, CFO Sean Joseph Glennan sold 4,625 shares of the stock in a transaction dated Tuesday, March 10th. The shares were 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 is accessible through this hyperlink. Also, insider Victor Semah sold 5,498 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $269,676.90. Following the completion of the sale, the insider owned 24,796 shares of the company’s stock, valued at $1,216,243.80. This represents a 18.15% decrease in their position. The SEC filing for this sale provides additional information. 11.20% of the stock is owned by corporate insiders.

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.