Northern Right Capital Management L.P. Has $23.84 Million Stock Position in Hut 8 Corp. $HUT

Northern Right Capital Management L.P. lowered its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 29.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 684,905 shares of the company’s stock after selling 286,947 shares during the quarter. Hut 8 comprises 7.4% of Northern Right Capital Management L.P.’s investment portfolio, making the stock its 4th biggest holding. Northern Right Capital Management L.P. owned about 0.63% of Hut 8 worth $23,842,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its position in shares of Hut 8 by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $30,000 after purchasing an additional 655 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Hut 8 by 235.8% in the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after purchasing an additional 1,719 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Hut 8 by 152.2% in the third quarter. Global Retirement Partners LLC now owns 3,349 shares of the company’s stock valued at $117,000 after buying an additional 2,021 shares during the period. Ameritas Investment Partners Inc. boosted its holdings in shares of Hut 8 by 13.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,625 shares of the company’s stock worth $179,000 after buying an additional 1,150 shares in the last quarter. Finally, Plancorp LLC bought a new position in shares of Hut 8 during the 3rd quarter worth approximately $209,000. 31.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HUT. Benchmark reiterated a “buy” rating on shares of Hut 8 in a research report on Wednesday, December 17th. Keefe, Bruyette & Woods lifted their price target on shares of Hut 8 from $55.00 to $75.00 and gave the company a “moderate buy” rating in a research note on Tuesday, January 27th. Wall Street Zen lowered shares of Hut 8 from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Canaccord Genuity Group increased their price objective on shares of Hut 8 from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Hut 8 in a research report on Thursday, February 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Hut 8 currently has a consensus rating of “Moderate Buy” and an average target price of $65.56.

Hut 8 Stock Up 5.9%

HUT stock opened at $51.19 on Tuesday. The business has a 50 day moving average of $55.10 and a 200 day moving average of $46.24. The firm has a market cap of $5.68 billion, a PE ratio of -22.06 and a beta of 4.42. Hut 8 Corp. has a twelve month low of $10.04 and a twelve month high of $66.07. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.12.

Insider Activity

In related news, insider Victor Semah sold 5,498 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total transaction of $269,676.90. Following the sale, the insider directly owned 24,796 shares of the company’s stock, valued at approximately $1,216,243.80. This represents a 18.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sean Joseph Glennan sold 4,625 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total transaction of $226,856.25. Following the sale, the chief financial officer owned 12,068 shares of the company’s stock, valued at approximately $591,935.40. This represents a 27.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 11.20% of the stock is owned by insiders.

Hut 8 Company 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.