47,447 Shares in Hut 8 Corp. $HUT Purchased by Paradiem LLC

Paradiem LLC bought a new stake in Hut 8 Corp. (NASDAQ:HUT) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 47,447 shares of the company’s stock, valued at approximately $1,652,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nuveen LLC acquired a new stake in shares of Hut 8 during the 1st quarter worth approximately $2,508,000. Quantbot Technologies LP bought a new stake in Hut 8 during the first quarter worth $95,000. State of Wyoming bought a new stake in Hut 8 during the first quarter worth $32,000. Baird Financial Group Inc. acquired a new stake in shares of Hut 8 in the 1st quarter valued at $360,000. Finally, Graham Capital Management L.P. bought a new position in shares of Hut 8 in the 1st quarter valued at $539,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Stock Performance

Shares of HUT stock opened at $49.64 on Friday. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of -127.28 and a beta of 4.41. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $43.84 and its 200-day moving average price is $32.84. Hut 8 Corp. has a 12 month low of $10.04 and a 12 month high of $57.29.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. Hut 8 had a net margin of 115.39% and a return on equity of 8.06%. The business had revenue of $80.72 million during the quarter, compared to analyst estimates of $64.70 million. Equities research analysts forecast that Hut 8 Corp. will post -0.53 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. B. Riley reissued a “buy” rating on shares of Hut 8 in a report on Wednesday, October 22nd. Canaccord Genuity Group boosted their target price on Hut 8 from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. Wall Street Zen raised shares of Hut 8 from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Piper Sandler reaffirmed an “overweight” rating on shares of Hut 8 in a report on Thursday, December 18th. Finally, Roth Capital reiterated a “buy” rating on shares of Hut 8 in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $53.76.

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.