Geode Capital Management LLC Boosts Stock Position in Hut 8 Corp. $HUT

Geode Capital Management LLC increased its stake in Hut 8 Corp. (NASDAQ:HUT) by 3.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,593,916 shares of the company’s stock after buying an additional 79,591 shares during the quarter. Geode Capital Management LLC’s holdings in Hut 8 were worth $119,181,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Hut 8 by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock valued at $366,526,000 after acquiring an additional 250,320 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Hut 8 by 4,669,387.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock valued at $186,629,000 after purchasing an additional 4,062,367 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Hut 8 by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock worth $104,133,000 after buying an additional 504,652 shares in the last quarter. Value Aligned Research Advisors LLC grew its position in Hut 8 by 110.2% during the third quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company’s stock worth $67,845,000 after buying an additional 1,021,955 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Hut 8 by 45.5% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,555,800 shares of the company’s stock valued at $54,156,000 after acquiring an additional 486,721 shares during the last quarter. Institutional investors own 31.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HUT shares. Needham & Company LLC increased their price target on shares of Hut 8 from $88.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wall Street Zen lowered Hut 8 from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Compass Point set a $130.00 price objective on shares of Hut 8 in a research note on Wednesday, May 13th. Citizens Jmp upped their price target on shares of Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a research report on Thursday, May 7th. Finally, Citigroup restated an “outperform” rating on shares of Hut 8 in a report on Tuesday, April 28th. Seventeen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $107.72.

Hut 8 Trading Down 12.1%

Shares of HUT stock opened at $112.24 on Friday. Hut 8 Corp. has a 1 year low of $15.26 and a 1 year high of $140.80. The firm has a fifty day moving average price of $86.14 and a 200-day moving average price of $62.88. The company has a market cap of $12.64 billion, a price-to-earnings ratio of -37.41 and a beta of 4.61. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing the consensus estimate of ($0.33) by ($1.65). Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%.The company had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. As a group, equities analysts predict that Hut 8 Corp. will post -1.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Amy Marie Wilkinson sold 20,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $100.78, for a total value of $2,015,600.00. Following the transaction, the director owned 262,136 shares of the company’s stock, valued at approximately $26,418,066.08. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rick Rickertsen sold 17,491 shares of Hut 8 stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total value of $1,924,010.00. Following the completion of the sale, the director directly owned 17,491 shares in the company, valued at $1,924,010. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 74,628 shares of company stock valued at $6,976,321. 10.40% of the stock is owned by company 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.