25,649 Shares in Hut 8 Corp. $HUT Purchased by Compass Rose Asset Management LP

Compass Rose Asset Management LP bought a new position in Hut 8 Corp. (NASDAQ:HUT - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 25,649 shares of the company's stock, valued at approximately $1,203,000. Hut 8 comprises approximately 0.1% of Compass Rose Asset Management LP's portfolio, making the stock its 16th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Millennium Management LLC grew its holdings in shares of Hut 8 by 11.9% during the first quarter. Millennium Management LLC now owns 330,416 shares of the company's stock worth $3,839,000 after purchasing an additional 35,120 shares in the last quarter. Prudential Financial Inc. bought a new position in shares of Hut 8 in the second quarter worth approximately $216,000. Russell Investments Group Ltd. raised its stake in Hut 8 by 235.8% in the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company's stock valued at $46,000 after purchasing an additional 1,719 shares in the last quarter. New York State Common Retirement Fund raised its stake in Hut 8 by 19.9% in the second quarter. New York State Common Retirement Fund now owns 32,540 shares of the company's stock valued at $605,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Invesco Ltd. lifted its position in Hut 8 by 13.2% during the second quarter. Invesco Ltd. now owns 1,067,985 shares of the company's stock valued at $19,865,000 after purchasing an additional 124,439 shares during the last quarter. Hedge funds and other institutional investors own 31.75% of the company's stock.

Trending Headlines about Hut 8

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

• Positive Sentiment: Benchmark raised its price target on Hut 8 to $195 from $165 and reiterated a buy rating, signaling additional upside after the stock’s recent rally. Benchmark Raises Hut 8 Price Target For Second Time In A Week
• Positive Sentiment: Needham lifted its target to $145 after Hut 8 secured a second Beacon Point AI lease, reinforcing investor confidence in the company’s pivot toward AI data centers. Needham lifts Hut 8 target to $145 after second Beacon Point AI lease
• Positive Sentiment: Benchmark also highlighted Hut 8’s new $9.8 billion AI infrastructure deal, which materially increases contracted capacity and supports the company’s transition from bitcoin mining toward higher-value AI data center operations. Benchmark Raises Hut 8 Price Target After Bitcoin Miner Signs $9.8 Billion AI Data Center Deal
• Positive Sentiment: Rosenblatt Securities initiated or reiterated a Buy rating on Hut 8, adding to the bullish sentiment around the stock. Hut 8 NASDAQ: HUT Earns "Buy" Rating from Rosenblatt Securities
• Neutral Sentiment: Investor attention is also being drawn to elevated call-option activity, suggesting traders are positioning for continued volatility around the stock. Investors Buy Large Volume of Call Options on Hut 8 NASDAQ: HUT

Insider Activity

In other Hut 8 news, Director Amy Marie Wilkinson sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the completion of the transaction, the director owned 262,136 shares of the company's stock, valued at $26,418,066.08. This represents a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Flinn sold 7,719 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $117.91, for a total value of $910,147.29. Following the completion of the sale, the director owned 10,519 shares of the company's stock, valued at approximately $1,240,295.29. This trade represents a 42.32% decrease in their position. 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. In the last ninety days, insiders have sold 112,724 shares of company stock valued at $12,184,340. Company insiders own 10.40% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on HUT. Northland Securities set a $120.00 price target on shares of Hut 8 in a research note on Thursday, May 7th. Needham & Company LLC raised their price objective on shares of Hut 8 from $128.00 to $145.00 and gave the company a "buy" rating in a research report on Monday. Citigroup reaffirmed an "outperform" rating on shares of Hut 8 in a report on Tuesday, April 28th. Rosenblatt Securities reiterated a "buy" rating and issued a $124.00 target price on shares of Hut 8 in a research report on Tuesday. Finally, Piper Sandler increased their target price on Hut 8 from $93.00 to $127.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Eighteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.10.

Hut 8 Trading Up 7.1%

NASDAQ:HUT opened at $117.67 on Friday. The firm has a market capitalization of $13.25 billion, a P/E ratio of -39.22 and a beta of 4.62. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. The company has a fifty day moving average of $111.44 and a 200 day moving average of $79.09. Hut 8 Corp. has a 52 week low of $18.68 and a 52 week high of $140.80.

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

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