17,903 Shares in Hut 8 Corp. $HUT Bought by M&T Bank Corp

M&T Bank Corp purchased a new position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 17,903 shares of the company's stock, valued at approximately $854,000.

A number of other large investors have also recently bought and sold shares of HUT. GAMMA Investing LLC acquired a new position in Hut 8 during the 4th quarter worth approximately $30,000. Russell Investments Group Ltd. boosted its position in Hut 8 by 235.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company's stock worth $46,000 after acquiring an additional 1,719 shares during the last quarter. CWM LLC boosted its position in Hut 8 by 37.4% during the 4th quarter. CWM LLC now owns 1,106 shares of the company's stock worth $51,000 after acquiring an additional 301 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Hut 8 by 1,578.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,393 shares of the company's stock worth $64,000 after acquiring an additional 1,310 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Hut 8 by 67.2% during the 3rd quarter. NewEdge Advisors LLC now owns 2,257 shares of the company's stock worth $79,000 after buying an additional 907 shares during the last quarter. Institutional investors and hedge funds own 31.75% of the company's stock.

Insider Activity

In related news, CFO Sean Joseph Glennan sold 4,625 shares of the firm's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $226,856.25. Following the completion of the sale, the chief financial officer directly owned 12,068 shares in the company, valued at approximately $591,935.40. This trade represents a 27.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Victor Semah sold 5,498 shares of the firm's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total transaction of $269,676.90. Following the completion of the sale, the insider owned 24,796 shares of the company's stock, valued at $1,216,243.80. This trade represents a 18.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 11.20% of the company's stock.

Wall Street Analyst Weigh In

HUT has been the subject of a number of recent research reports. Piper Sandler increased their price objective on shares of Hut 8 from $74.00 to $93.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 21st. B. Riley Financial increased their price objective on shares of Hut 8 from $61.00 to $76.00 and gave the stock a "buy" rating in a research note on Friday, January 9th. Rosenblatt Securities restated a "buy" rating and set a $65.00 price objective on shares of Hut 8 in a research note on Thursday, February 26th. Arete Research initiated coverage on shares of Hut 8 in a research note on Monday, March 23rd. They set a "buy" rating and a $136.00 price objective for the company. Finally, Citigroup restated an "outperform" rating on shares of Hut 8 in a research note on Tuesday. Sixteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $76.38.

Hut 8 Trading Up 6.7%

NASDAQ HUT opened at $75.78 on Friday. The company has a market cap of $8.40 billion, a PE ratio of -32.66 and a beta of 4.38. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.12. Hut 8 Corp. has a 12 month low of $12.23 and a 12 month high of $83.18. The stock has a 50 day moving average of $58.21 and a 200-day moving average of $52.25.

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.

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