Delta Global Management LP Has $8.33 Million Holdings in Hut 8 Corp. $HUT

Delta Global Management LP cut its holdings in Hut 8 Corp. (NASDAQ:HUT) by 30.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 177,646 shares of the company’s stock after selling 76,312 shares during the period. Delta Global Management LP’s holdings in Hut 8 were worth $8,333,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Hut 8 by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock valued at $366,526,000 after buying an additional 250,320 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake 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 worth $186,629,000 after acquiring an additional 4,062,367 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Hut 8 by 20.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock valued at $104,133,000 after acquiring an additional 504,652 shares during the last quarter. SRS Investment Management LLC acquired a new position in shares of Hut 8 during the 4th quarter valued at about $131,838,000. Finally, Sachem Head Capital Management LP bought a new position in shares of Hut 8 in the 4th quarter valued at approximately $129,780,000. 31.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HUT has been the subject of several analyst reports. Weiss Ratings lowered Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Compass Point set a $195.00 price target on Hut 8 in a report on Wednesday. Piper Sandler boosted their price objective on shares of Hut 8 from $93.00 to $127.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Citigroup reaffirmed an “outperform” rating on shares of Hut 8 in a report on Tuesday, April 28th. Finally, Benchmark raised their target price on shares of Hut 8 from $165.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday. Eighteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Hut 8 currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.10.

Hut 8 Price Performance

Shares of NASDAQ:HUT opened at $109.99 on Friday. The company has a market cap of $12.38 billion, a price-to-earnings ratio of -36.66 and a beta of 4.62. The business has a 50 day moving average price of $111.59 and a 200 day moving average price of $79.31. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. Hut 8 Corp. has a twelve month low of $18.68 and a twelve month high of $140.80.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings results 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 business had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. Research analysts predict that Hut 8 Corp. will post -2.12 earnings per share for the current year.

Insider Activity at Hut 8

In related news, Director Joseph Flinn sold 7,719 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $117.91, for a total transaction of $910,147.29. Following the completion of the transaction, the director directly owned 10,519 shares in the company, valued at $1,240,295.29. This represents a 42.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Amy Marie Wilkinson sold 20,000 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the completion of the sale, the director directly owned 262,136 shares of the company’s stock, valued at approximately $26,418,066.08. This trade represents a 7.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 112,724 shares of company stock worth $12,184,340. Insiders own 10.40% of the company’s stock.

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.