Pertento Partners LLP Takes Position in Hut 8 Corp. $HUT

Pertento Partners LLP acquired a new position in shares of Hut 8 Corp. (NASDAQ:HUT) in the third quarter, Holdings Channel reports. The institutional investor acquired 401,850 shares of the company’s stock, valued at approximately $13,988,000. Hut 8 accounts for about 1.6% of Pertento Partners LLP’s holdings, making the stock its 14th largest holding.

Several other hedge funds also recently bought and sold shares of the stock. Millennium Management LLC increased its position in shares of Hut 8 by 11.9% during the first quarter. Millennium Management LLC now owns 330,416 shares of the company’s stock valued at $3,839,000 after acquiring an additional 35,120 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Hut 8 by 20.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 14,855 shares of the company’s stock worth $276,000 after acquiring an additional 2,550 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Hut 8 by 21.7% during the 2nd quarter. Bank of Montreal Can now owns 18,806 shares of the company’s stock worth $351,000 after purchasing an additional 3,358 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Hut 8 by 31.3% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,179 shares of the company’s stock worth $171,000 after purchasing an additional 2,186 shares during the period. Finally, ProShare Advisors LLC increased its holdings in Hut 8 by 10.2% in the 2nd quarter. ProShare Advisors LLC now owns 19,330 shares of the company’s stock valued at $360,000 after purchasing an additional 1,794 shares during the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Insider Activity at Hut 8

In other Hut 8 news, CFO Sean Joseph Glennan sold 4,625 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total transaction of $226,856.25. Following the completion of the transaction, the chief financial officer owned 12,068 shares in the company, valued at $591,935.40. The trade was a 27.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Victor Semah sold 5,498 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total transaction of $269,676.90. Following the completion of the sale, the insider directly owned 24,796 shares in the company, valued at approximately $1,216,243.80. This represents a 18.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 11.20% of the company’s stock.

Hut 8 Stock Up 3.9%

HUT stock opened at $51.12 on Thursday. The company’s 50 day moving average price is $55.25 and its 200 day moving average price is $45.60. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.09 and a current ratio of 1.09. Hut 8 Corp. has a fifty-two week low of $10.04 and a fifty-two week high of $66.07. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of -22.03 and a beta of 4.42.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Piper Sandler reissued an “overweight” rating on shares of Hut 8 in a research report on Thursday, December 18th. Keefe, Bruyette & Woods boosted their price target on shares of Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, January 27th. Rosenblatt Securities restated a “buy” rating and issued a $65.00 price objective on shares of Hut 8 in a report on Thursday, February 26th. Roth Mkm reissued a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research report on Tuesday, January 27th. Finally, Craig Hallum restated a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research note on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Hut 8 has a consensus rating of “Moderate Buy” and a consensus 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.