Delta Global Management LP Has $8.33 Million Stock Position in Hut 8 Corp. $HUT

Delta Global Management LP lowered its stake in Hut 8 Corp. (NASDAQ:HUT) by 30.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,646 shares of the company’s stock after selling 76,312 shares during the quarter. Delta Global Management LP owned approximately 0.16% of Hut 8 worth $8,333,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in Hut 8 during the fourth quarter valued at about $30,000. Imprint Wealth LLC purchased a new position in shares of Hut 8 in the fourth quarter worth approximately $38,000. Harbor Investment Advisory LLC purchased a new position in shares of Hut 8 in the first quarter worth approximately $47,000. Activest Wealth Management acquired a new stake in shares of Hut 8 during the fourth quarter valued at approximately $49,000. Finally, Danske Bank A S acquired a new stake in shares of Hut 8 during the fourth quarter valued at approximately $51,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Price Performance

NASDAQ HUT opened at $109.99 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $12.38 billion, a price-to-earnings ratio of -36.66 and a beta of 4.62. The company has a 50 day simple moving average of $111.59 and a 200-day simple moving average of $79.31. Hut 8 Corp. has a 52-week low of $18.68 and a 52-week high of $140.80.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. The company had revenue of $139.31 million for the quarter, compared to analysts’ expectations of $78.53 million. Equities research analysts predict that Hut 8 Corp. will post -2.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on HUT shares. Rosenblatt Securities restated a “buy” rating and issued a $124.00 price target on shares of Hut 8 in a research report on Tuesday, July 21st. Compass Point set a $195.00 price objective on shares of Hut 8 in a research report on Wednesday. Jefferies Financial Group initiated coverage on shares of Hut 8 in a research note on Thursday, May 14th. They set a “buy” rating and a $156.00 target price on the stock. BTIG Research increased their target price on Hut 8 from $115.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Finally, Piper Sandler raised their target price on Hut 8 from $93.00 to $127.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Eighteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $133.10.

Insider Activity at Hut 8

In other news, Director Rick Rickertsen sold 17,491 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the transaction, the director directly owned 17,491 shares in the company, valued at $1,924,010. The trade was a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Victor Semah sold 10,518 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $76.83, for a total value of $808,097.94. Following the sale, the insider owned 41,378 shares of the company’s stock, valued at approximately $3,179,071.74. This represents a 20.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 112,724 shares of company stock valued at $12,184,340. Insiders own 10.40% of the company’s stock.

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.