Galaxy Digital Capital Management GP LLC Purchases 42,747 Shares of Hut 8 Corp. $HUT

Galaxy Digital Capital Management GP LLC raised its position in Hut 8 Corp. (NASDAQ:HUT) by 151.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 70,940 shares of the company’s stock after buying an additional 42,747 shares during the quarter. Hut 8 comprises about 3.5% of Galaxy Digital Capital Management GP LLC’s portfolio, making the stock its 4th largest holding. Galaxy Digital Capital Management GP LLC’s holdings in Hut 8 were worth $3,328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Hut 8 by 1.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock worth $734,000 after acquiring an additional 254 shares during the period. CWM LLC increased its stake in Hut 8 by 37.4% in the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock valued at $51,000 after acquiring an additional 301 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Hut 8 by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock valued at $996,000 after acquiring an additional 362 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Hut 8 by 4.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company’s stock valued at $413,000 after purchasing an additional 388 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its position in Hut 8 by 4.8% during the fourth quarter. Integrated Wealth Concepts LLC now owns 10,028 shares of the company’s stock valued at $461,000 after purchasing an additional 456 shares in the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Morgan Stanley began coverage on Hut 8 in a report on Thursday. They issued an “overweight” rating and a $263.00 target price on the stock. Canaccord Genuity Group boosted their price target on Hut 8 from $70.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. BTIG Research upped their price objective on Hut 8 from $115.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Northland Securities set a $120.00 price objective on Hut 8 in a research note on Thursday, May 7th. Finally, Cantor Fitzgerald raised their price objective on Hut 8 from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Eighteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Hut 8 presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.10.

Hut 8 Price Performance

HUT stock opened at $109.99 on Friday. The stock has a market cap of $12.38 billion, a price-to-earnings ratio of -36.66 and a beta of 4.62. 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 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 1 year low of $18.68 and a 1 year high of $140.80.

Hut 8 (NASDAQ:HUT) last issued its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). The company had revenue of $139.31 million during the quarter, compared to analyst estimates of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. Research analysts anticipate that Hut 8 Corp. will post -1.29 EPS for the current fiscal year.

Insider Transactions at Hut 8

In related news, Director Amy Marie Wilkinson sold 20,000 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the sale, the director owned 262,136 shares in the company, valued at $26,418,066.08. The trade was a 7.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph Flinn sold 30,500 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $116.21, for a total value of $3,544,405.00. Following the completion of the transaction, the director directly owned 18,238 shares of the company’s stock, valued at approximately $2,119,437.98. The trade was a 62.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 112,724 shares of company stock valued at $12,184,340 over the last quarter. 10.40% of the stock is currently owned by insiders.

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.