Trivest Advisors Ltd Acquires New Position in Hut 8 Corp. $HUT

Trivest Advisors Ltd acquired a new stake in shares of Hut 8 Corp. (NASDAQ:HUT) in the fourth quarter, HoldingsChannel reports. The fund acquired 102,400 shares of the company’s stock, valued at approximately $4,704,000. Hut 8 makes up about 0.2% of Trivest Advisors Ltd’s investment portfolio, making the stock its 25th biggest holding.

Other institutional investors have also modified their holdings of the company. WINTON GROUP Ltd boosted its stake in Hut 8 by 109.5% in the fourth quarter. WINTON GROUP Ltd now owns 83,400 shares of the company’s stock valued at $3,831,000 after acquiring an additional 43,600 shares during the period. Cibc World Market Inc. lifted its holdings in shares of Hut 8 by 372.6% in the 4th quarter. Cibc World Market Inc. now owns 35,410 shares of the company’s stock worth $1,627,000 after purchasing an additional 27,917 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Hut 8 by 29.3% in the 4th quarter. Intech Investment Management LLC now owns 36,392 shares of the company’s stock worth $1,672,000 after purchasing an additional 8,254 shares during the last quarter. Thoroughbred Financial Services LLC bought a new stake in shares of Hut 8 in the 4th quarter worth approximately $741,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Hut 8 by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 2,593,916 shares of the company’s stock worth $119,181,000 after purchasing an additional 79,591 shares during the last quarter. Institutional investors own 31.75% of the company’s stock.

Insiders Place Their Bets

In other Hut 8 news, insider Victor Semah sold 10,518 shares of Hut 8 stock in a transaction on Monday, May 4th. The stock was sold at an average price of $76.83, for a total transaction of $808,097.94. Following the sale, the insider owned 41,378 shares of the company’s stock, valued at $3,179,071.74. The trade was a 20.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, CFO Sean Joseph Glennan sold 4,625 shares of Hut 8 stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $226,856.25. Following the sale, the chief financial officer directly owned 12,068 shares in the company, valued at $591,935.40. The trade was a 27.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 74,628 shares of company stock worth $6,976,321 over the last 90 days. Insiders own 10.40% of the company’s stock.

Analyst Upgrades and Downgrades

HUT has been the topic of several recent research reports. BTIG Research raised their price target on Hut 8 from $90.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Northland Securities set a $120.00 price target on Hut 8 in a report on Thursday, May 7th. Rosenblatt Securities raised their price target on Hut 8 from $89.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Citizens Jmp raised their price target on Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a report on Thursday, May 7th. Finally, Canaccord Genuity Group raised their price target on Hut 8 from $70.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Seventeen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.72.

Hut 8 Stock Down 12.1%

Shares of Hut 8 stock opened at $112.24 on Friday. The business’s fifty day moving average price is $86.14 and its two-hundred day moving average price is $62.88. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $12.64 billion, a P/E ratio of -37.41 and a beta of 4.61. Hut 8 Corp. has a 1-year low of $15.26 and a 1-year high of $140.80.

Hut 8 (NASDAQ:HUT) last announced its earnings results 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). The business had revenue of $139.31 million for the quarter, compared to the consensus estimate of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. As a group, research analysts forecast that Hut 8 Corp. will post -1.29 EPS for the current year.

About Hut 8

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.