Permanent Capital Management LP Invests $551,000 in Hut 8 Corp. $HUT

Permanent Capital Management LP acquired a new stake in Hut 8 Corp. (NASDAQ:HUT) in the fourth quarter, Holdings Channel.com reports. The firm acquired 12,000 shares of the company’s stock, valued at approximately $551,000.

Other hedge funds also recently bought and sold shares of the company. Millennium Management LLC lifted its stake in Hut 8 by 11.9% in the 1st quarter. Millennium Management LLC now owns 330,416 shares of the company’s stock worth $3,839,000 after purchasing an additional 35,120 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Hut 8 by 10.2% in the 2nd quarter. ProShare Advisors LLC now owns 19,330 shares of the company’s stock valued at $360,000 after purchasing an additional 1,794 shares during the period. Geode Capital Management LLC grew its position 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 valued at $47,679,000 after purchasing an additional 309,113 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its position in shares of Hut 8 by 19.7% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 21,335 shares of the company’s stock valued at $397,000 after purchasing an additional 3,505 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of Hut 8 by 1.1% in the second quarter. Intech Investment Management LLC now owns 66,957 shares of the company’s stock worth $1,245,000 after purchasing an additional 734 shares during the period. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HUT shares. Canaccord Genuity Group increased their price objective on Hut 8 from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Wall Street Zen lowered Hut 8 from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. B. Riley Financial raised their price target on Hut 8 from $61.00 to $76.00 and gave the company a “buy” rating in a report on Friday, January 9th. Needham & Company LLC lifted their price target on Hut 8 from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Finally, Benchmark reissued a “buy” rating on shares of Hut 8 in a report on Wednesday, December 17th. One 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.56.

Hut 8 Stock Performance

Hut 8 stock opened at $47.46 on Friday. Hut 8 Corp. has a fifty-two week low of $10.04 and a fifty-two week high of $66.07. 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 stock has a market cap of $5.26 billion, a P/E ratio of -20.46 and a beta of 4.42. The firm’s fifty day moving average price is $54.39 and its 200-day moving average price is $46.74.

Insiders Place Their Bets

In related news, CFO Sean Joseph Glennan sold 4,625 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $226,856.25. Following the transaction, the chief financial officer owned 12,068 shares of the company’s stock, valued at $591,935.40. This represents a 27.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 $1,216,243.80. The trade was a 18.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.