401,850 Shares in Hut 8 Corp. $HUT Purchased by Pertento Partners LLP

Key Points

• Pertento Partners LLP opened a new position in Hut 8 by purchasing 401,850 shares in the 3rd quarter for about $13.99 million, equal to roughly 0.37% of Hut 8 and about 1.6% of Pertento’s holdings (its 14th largest position).
• Hut 8 holds a consensus analyst rating of "Moderate Buy" with a consensus price target of $65.56; several brokers raised targets (Roth MKM $80, Keefe, Bruyette & Woods $75) while others downgraded to sell (Wall Street Zen, Weiss).
• Insiders sold shares on March 10—Victor Semah offloaded 5,498 shares and CFO Sean Glennan sold 4,625 shares at about $49.05 each—reducing insider stakes, with insiders now owning 11.20% of the company.

Pertento Partners LLP purchased a new position in Hut 8 Corp. (NASDAQ:HUT - Free Report) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 401,850 shares of the company's stock, valued at approximately $13,988,000. Hut 8 accounts for approximately 1.6% of Pertento Partners LLP's holdings, making the stock its 14th biggest position. Pertento Partners LLP owned about 0.37% of Hut 8 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HUT. Vanguard Group Inc. grew its position in Hut 8 by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,728,037 shares of the company's stock worth $269,013,000 after purchasing an additional 140,248 shares during the period. Geode Capital Management LLC lifted its stake in shares of Hut 8 by 13.7% in the 2nd quarter. Geode Capital Management LLC now owns 2,563,091 shares of the company's stock valued at $47,679,000 after purchasing an additional 309,113 shares during the period. Ameriprise Financial Inc. grew its position in Hut 8 by 1,043.0% during the second quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company's stock valued at $46,255,000 after buying an additional 2,269,237 shares during the period. Invesco Ltd. boosted its stake in shares of Hut 8 by 13.2% during the 2nd quarter. Invesco Ltd. now owns 1,067,985 shares of the company's stock worth $19,865,000 after acquiring an additional 124,439 shares in the last quarter. Finally, Northern Right Capital Management L.P. raised its holdings in Hut 8 by 48.1% in the 2nd quarter. Northern Right Capital Management L.P. now owns 971,852 shares of the company's stock worth $18,076,000 after purchasing an additional 315,522 shares during the period. Hedge funds and other institutional investors own 31.75% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HUT. Roth Mkm reiterated a "buy" rating and set a $80.00 target price on shares of Hut 8 in a research report on Tuesday, January 27th. Keefe, Bruyette & Woods lifted their target price on shares of Hut 8 from $55.00 to $75.00 and gave the company a "moderate buy" rating in a research report on Tuesday, January 27th. Wall Street Zen downgraded shares of Hut 8 from a "hold" rating to a "sell" rating in a research report on Saturday, February 28th. Benchmark reaffirmed a "buy" rating on shares of Hut 8 in a research note on Wednesday, December 17th. Finally, Weiss Ratings cut Hut 8 from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $65.56.

Insiders Place Their Bets

In related news, insider Victor Semah sold 5,498 shares of the company'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 $269,676.90. Following the completion of the sale, the insider owned 24,796 shares of the company's stock, valued at approximately $1,216,243.80. This represents a 18.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Sean Joseph Glennan sold 4,625 shares of Hut 8 stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the transaction, the chief financial officer directly owned 12,068 shares in the company, valued at $591,935.40. This trade represents a 27.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 11.20% of the company's stock.

Hut 8 Stock Performance

HUT opened at $51.12 on Thursday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.12. The firm's 50-day moving average price is $55.25 and its 200 day moving average price is $45.60. Hut 8 Corp. has a twelve month low of $10.04 and a twelve month high of $66.07. The firm has a market capitalization of $5.67 billion, a PE ratio of -22.03 and a beta of 4.42.

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.

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