11,950 Shares in Hut 8 Corp. $HUT Purchased by Independent Financial Group LLC

Key Points

• Independent Financial Group LLC initiated a new position in Hut 8, buying 11,950 shares worth about $561,000 in the first quarter.
• Wall Street sentiment remains bullish, with analysts like Benchmark and Piper Sandler lifting price targets and the stock carrying a Moderate Buy consensus rating with a target of $126.26.
• Hut 8 continues to draw attention for its AI/data center expansion, highlighted by a $9.8 billion Texas lease deal that doubled contracted capacity to 704 megawatts, even as insiders recently sold shares and the company posted a quarterly earnings miss.

Independent Financial Group LLC bought a new stake in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,950 shares of the company's stock, valued at approximately $561,000.

A number of other large investors also recently added to or reduced their stakes in HUT. Nisa Investment Advisors LLC boosted its stake in Hut 8 by 1.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company's stock worth $734,000 after purchasing an additional 254 shares during the period. CWM LLC raised 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 valued at $51,000 after buying an additional 301 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised 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 valued at $996,000 after buying an additional 362 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Hut 8 by 4.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company's stock worth $413,000 after buying an additional 388 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of Hut 8 by 4.8% in the fourth quarter. Integrated Wealth Concepts LLC now owns 10,028 shares of the company's stock worth $461,000 after buying an additional 456 shares in the last quarter. 31.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on HUT shares. Benchmark upped their target price on shares of Hut 8 from $165.00 to $195.00 and gave the stock a "buy" rating in a research report on Wednesday. Piper Sandler lifted their price target on shares of Hut 8 from $93.00 to $127.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Rosenblatt Securities reiterated a "buy" rating and issued a $124.00 price target on shares of Hut 8 in a research note on Tuesday. Northland Securities set a $120.00 price objective on shares of Hut 8 in a report on Thursday, May 7th. Finally, Weiss Ratings lowered Hut 8 from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. Seventeen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $126.26.

Insider Buying and Selling at Hut 8

In other news, insider Victor Semah sold 10,518 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $76.83, for a total transaction of $808,097.94. Following the sale, the insider directly owned 41,378 shares in the company, valued at approximately $3,179,071.74. This represents a 20.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the completion of the transaction, the director directly owned 18,238 shares of the company's stock, valued at approximately $2,119,437.98. The trade was a 62.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 112,724 shares of company stock valued at $12,184,340. Corporate insiders own 10.40% of the company's stock.

Key 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

Hut 8 Stock Up 0.8%

Shares of HUT opened at $109.86 on Thursday. 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 stock has a market capitalization of $12.37 billion, a price-to-earnings ratio of -36.62 and a beta of 4.62. Hut 8 Corp. has a 1 year low of $18.68 and a 1 year high of $140.80. The business's 50 day simple moving average is $111.28 and its 200-day simple moving average is $78.63.

Hut 8 (NASDAQ:HUT - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.33) by ($1.65). The business had revenue of $139.31 million during the quarter, compared to analysts' expectations 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, equities analysts expect that Hut 8 Corp. will post -1.29 earnings per share for the current fiscal year.

Hut 8 Company 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.

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