Hut 8 Corp. $HUT Stock Position Decreased by Paradiem LLC

Paradiem LLC trimmed its stake in Hut 8 Corp. (NASDAQ:HUT) by 60.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,542 shares of the company’s stock after selling 28,905 shares during the quarter. Paradiem LLC’s holdings in Hut 8 were worth $852,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Rhumbline Advisers boosted its holdings in shares of Hut 8 by 19.4% in the second quarter. Rhumbline Advisers now owns 146,356 shares of the company’s stock worth $2,722,000 after buying an additional 23,753 shares during the period. Harvest Portfolios Group Inc. raised its holdings in shares of Hut 8 by 75.3% during the third quarter. Harvest Portfolios Group Inc. now owns 85,093 shares of the company’s stock valued at $2,962,000 after acquiring an additional 36,543 shares during the period. Steadview Capital Management LLC purchased a new stake in shares of Hut 8 in the 3rd quarter valued at approximately $985,000. Y Intercept Hong Kong Ltd boosted its stake in Hut 8 by 26.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 131,110 shares of the company’s stock worth $4,564,000 after purchasing an additional 27,568 shares during the period. Finally, Tactive Advisors LLC grew its position in Hut 8 by 42.6% during the 3rd quarter. Tactive Advisors LLC now owns 93,958 shares of the company’s stock worth $3,271,000 after purchasing an additional 28,082 shares in the last quarter. 31.75% of the stock is owned by institutional investors and hedge funds.

Hut 8 Stock Up 1.6%

Shares of HUT stock opened at $50.14 on Friday. Hut 8 Corp. has a 12 month low of $10.04 and a 12 month high of $66.07. The firm has a market cap of $5.56 billion, a PE ratio of -21.61 and a beta of 4.42. The stock has a 50 day moving average of $54.64 and a 200-day moving average of $46.46. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.12.

Insiders Place Their Bets

In other news, CFO Sean Joseph Glennan sold 4,625 shares of the company’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 completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the sale, the insider owned 24,796 shares of the company’s stock, valued at approximately $1,216,243.80. The trade was a 18.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 11.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Canaccord Genuity Group raised their target price on Hut 8 from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Weiss Ratings cut shares of Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. B. Riley Financial raised their price target on shares of Hut 8 from $61.00 to $76.00 and gave the company a “buy” rating in a report on Friday, January 9th. Needham & Company LLC upped their price objective on shares of Hut 8 from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Finally, Piper Sandler restated an “overweight” rating on shares of Hut 8 in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hut 8 currently has an average rating of “Moderate Buy” and a consensus price target 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.