Intech Investment Management LLC Decreases Stock Position in Hut 8 Corp. $HUT

Intech Investment Management LLC lessened its holdings in Hut 8 Corp. (NASDAQ:HUT) by 58.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 28,138 shares of the company’s stock after selling 38,819 shares during the period. Intech Investment Management LLC’s holdings in Hut 8 were worth $979,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of HUT. Vanguard Group Inc. increased its position in shares of Hut 8 by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,728,037 shares of the company’s stock valued at $269,013,000 after acquiring an additional 140,248 shares during the period. Geode Capital Management LLC boosted its position in Hut 8 by 13.7% in the second quarter. Geode Capital Management LLC now owns 2,563,091 shares of the company’s stock valued at $47,679,000 after buying an additional 309,113 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Hut 8 by 1,043.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company’s stock worth $46,255,000 after buying an additional 2,269,237 shares during the period. Invesco Ltd. raised its position in Hut 8 by 13.2% during the 2nd quarter. Invesco Ltd. now owns 1,067,985 shares of the company’s stock worth $19,865,000 after buying an additional 124,439 shares during the last quarter. Finally, Northern Right Capital Management L.P. raised its position in Hut 8 by 48.1% during the 2nd quarter. Northern Right Capital Management L.P. now owns 971,852 shares of the company’s stock worth $18,076,000 after buying an additional 315,522 shares during the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Stock Down 8.4%

Shares of NASDAQ HUT opened at $47.07 on Monday. The company’s 50-day simple moving average is $55.09 and its 200-day simple moving average is $45.18. Hut 8 Corp. has a 52-week low of $10.04 and a 52-week high of $66.07. The firm has a market cap of $5.22 billion, a price-to-earnings ratio of -20.29 and a beta of 4.42. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.12.

Analyst Ratings Changes

HUT has been the topic of several recent research reports. Canaccord Genuity Group upped their price objective on shares of Hut 8 from $62.00 to $70.00 and gave the company a “buy” rating in a report on Friday, February 27th. Benchmark restated a “buy” rating on shares of Hut 8 in a research report on Wednesday, December 17th. Craig Hallum reaffirmed a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a report on Thursday, December 18th. Wall Street Zen downgraded Hut 8 from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $65.00 price objective on shares of Hut 8 in a research note 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 issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.56.

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.