Independent Financial Group LLC Purchases New Shares in Hut 8 Corp. $HUT

Independent Financial Group LLC purchased a new position in Hut 8 Corp. (NASDAQ:HUT) in the first quarter, HoldingsChannel.com reports. The institutional investor purchased 11,950 shares of the company’s stock, valued at approximately $561,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position 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 acquiring an additional 250,320 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Hut 8 by 4,669,387.4% in 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 during the last quarter. Ameriprise Financial Inc. boosted its stake 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 worth $104,133,000 after purchasing an additional 504,652 shares during the period. SRS Investment Management LLC purchased a new position in shares of Hut 8 during the 4th quarter worth about $131,838,000. Finally, Sachem Head Capital Management LP bought a new position in Hut 8 during the 4th quarter valued at about $129,780,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hut 8

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 completion of the sale, the insider directly 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 document filed with the SEC, 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, Director Joseph Flinn sold 30,500 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $116.21, for a total value of $3,544,405.00. Following the completion of the sale, the director owned 18,238 shares of the company’s stock, valued at $2,119,437.98. This represents a 62.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 112,724 shares of company stock worth $12,184,340 in the last ninety days. 10.40% of the stock is owned by company insiders.

More Hut 8 News

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Benchmark raised its price target on Hut 8 for the second time in a week, lifting the target to $195 and keeping a buy rating, reflecting growing confidence in the company’s AI/data center strategy. Benchmark Raises Hut 8 Price Target For Second Time In A Week
• Positive Sentiment: Needham boosted its target to $145 after Hut 8 signed a second Beacon Point AI lease, signaling that analysts see more value from the company’s leasing and infrastructure buildout. Needham lifts Hut 8 target to $145 after second Beacon Point AI lease
• Positive Sentiment: Hut 8 signed a 15-year, $9.8 billion triple-net lease at its Beacon Point Texas campus, doubling contracted capacity to 704 megawatts and strengthening the investment case for its AI data center expansion. Texas Power Play: Hut 8 Sparks a $9.8B AI Infrastructure Deal
• Positive Sentiment: Recent options activity showed unusually heavy call buying in Hut 8, suggesting traders are positioning for further upside. Investors Buy Large Volume of Call Options on Hut 8 (NASDAQ:HUT)
• Neutral Sentiment: Coverage and commentary continue to highlight Hut 8’s strong returns but also note that the stock remains expensive on a sales basis, which may temper enthusiasm. Hut 8 (HUT) Stock Looks Strong On Returns Yet Expensive On Sales
• Neutral Sentiment: The CEO’s media appearance underscored the company’s view that power is the key resource for AI data centers, reinforcing the strategic rationale behind its new hyperscaler and leasing deals. Hut 8 CEO Asher Genoot: Power is the key resource allowing AI data centers to thrive
• Negative Sentiment: Some commentary still frames Hut 8 as partly dependent on a struggling bitcoin mining business, which could weigh on sentiment if the AI transition takes longer than expected. Hut 8 Stock Surges Up to 200% in 2026 as Bitcoin Mining Unit Struggles

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HUT. Citigroup reissued an “outperform” rating on shares of Hut 8 in a research report on Tuesday, April 28th. B. Riley Financial upped their target price on Hut 8 from $76.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Northland Securities set a $120.00 price target on Hut 8 in a report on Thursday, May 7th. Compass Point set a $195.00 price target on Hut 8 in a research note on Wednesday. Finally, Benchmark boosted their price objective on Hut 8 from $165.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday. Seventeen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $126.26.

Hut 8 Trading Up 0.8%

Shares of HUT opened at $109.86 on Thursday. The firm has a market capitalization of $12.37 billion, a price-to-earnings ratio of -36.62 and a beta of 4.62. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. Hut 8 Corp. has a 1-year low of $18.68 and a 1-year high of $140.80. The company has a 50-day moving average of $111.28 and a 200 day moving average of $78.63.

Hut 8 (NASDAQ:HUT) last issued its earnings results on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). The company had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. On average, research analysts expect that Hut 8 Corp. will post -1.29 EPS for the current year.

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.