Mitsubishi UFJ Asset Management Co. Ltd. Sells 4,911 Shares of Hut 8 Corp. $HUT

Mitsubishi UFJ Asset Management Co. Ltd. lowered its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 51.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,589 shares of the company’s stock after selling 4,911 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Hut 8 were worth $211,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its holdings in Hut 8 by 1.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock valued at $734,000 after purchasing an additional 254 shares during the last quarter. CWM LLC boosted its position in shares of Hut 8 by 37.4% during the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after buying an additional 301 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Hut 8 by 1.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock worth $996,000 after buying an additional 362 shares during the period. Arizona State Retirement System boosted its position in shares of Hut 8 by 1.9% during the third quarter. Arizona State Retirement System now owns 29,290 shares of the company’s stock worth $1,020,000 after buying an additional 542 shares during the period. Finally, GAMMA Investing LLC acquired a new position in shares of Hut 8 during the fourth quarter worth about $30,000. Institutional investors own 31.75% of the company’s stock.

Insider Buying and Selling

In related news, Director Rick Rickertsen sold 17,491 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the completion of the transaction, the director directly owned 17,491 shares of the company’s stock, valued at $1,924,010. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victor Semah sold 10,518 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $76.83, for a total value of $808,097.94. Following the transaction, the insider directly owned 41,378 shares of the company’s stock, valued at approximately $3,179,071.74. This represents a 20.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 54,628 shares of company stock valued at $4,960,721 in the last three months. Insiders own 10.40% of the company’s stock.

Hut 8 Trading Up 0.9%

Shares of HUT stock opened at $108.32 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. Hut 8 Corp. has a fifty-two week low of $14.74 and a fifty-two week high of $112.26. The company has a market cap of $12.20 billion, a PE ratio of -36.11 and a beta of 4.48. The stock’s fifty day moving average price is $64.68 and its two-hundred day moving average price is $54.96.

Hut 8 (NASDAQ:HUT) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($1.65). Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. The firm had revenue of $139.31 million for the quarter, compared to analyst estimates of $78.53 million. Equities analysts predict that Hut 8 Corp. will post -1.5 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on HUT. Piper Sandler upped their price objective on Hut 8 from $93.00 to $127.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Cantor Fitzgerald upped their price objective on Hut 8 from $68.00 to $80.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. BTIG Research increased their target price on Hut 8 from $90.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen lowered Hut 8 from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Needham & Company LLC raised their price objective on Hut 8 from $88.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Sixteen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $104.88.

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.