Zweig DiMenna Associates LLC Raises Stock Position in Hut 8 Corp. $HUT

Zweig DiMenna Associates LLC grew its holdings in Hut 8 Corp. (NASDAQ:HUT) by 256.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 707,000 shares of the company’s stock after acquiring an additional 508,700 shares during the period. Hut 8 comprises about 1.7% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 12th biggest position. Zweig DiMenna Associates LLC owned about 0.65% of Hut 8 worth $24,611,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Arizona State Retirement System grew its holdings in Hut 8 by 1.9% during the 3rd quarter. Arizona State Retirement System now owns 29,290 shares of the company’s stock valued at $1,020,000 after buying an additional 542 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of 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 acquiring an additional 655 shares during the last quarter. Main Management ETF Advisors LLC boosted its position in shares of Hut 8 by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 44,713 shares of the company’s stock worth $832,000 after acquiring an additional 732 shares during the last quarter. Intech Investment Management LLC grew its stake in Hut 8 by 1.1% during the second quarter. Intech Investment Management LLC now owns 66,957 shares of the company’s stock valued at $1,245,000 after acquiring an additional 734 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings 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 acquiring an additional 815 shares during the last quarter. Institutional investors own 31.75% of the company’s stock.

Hut 8 Stock Up 5.7%

Shares of HUT opened at $53.87 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.14. The business has a fifty day moving average of $52.84 and a 200 day moving average of $42.06. The company has a market cap of $5.82 billion, a PE ratio of -138.13 and a beta of 4.42. Hut 8 Corp. has a 52-week low of $10.04 and a 52-week high of $66.07.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a “hold (c-)” rating on shares of Hut 8 in a research report on Monday, December 29th. Rosenblatt Securities restated a “buy” rating and set a $65.00 price target on shares of Hut 8 in a report on Thursday, December 18th. BTIG Research reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Hut 8 in a research note on Wednesday, December 17th. Needham & Company LLC reiterated a “buy” rating and set a $60.00 target price on shares of Hut 8 in a research report on Friday, January 16th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $62.35.

Hut 8 Profile

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.