BW Gestao de Investimentos Ltda. Reduces Position in Hut 8 Corp. $HUT

Key Points

• BW Gestao de Investimentos Ltda. cut its Hut 8 stake by 59.7% in the fourth quarter, selling 346,157 shares and leaving it with 233,843 shares worth about $10.7 million.
• Several company insiders sold shares, including Director Amy Marie Wilkinson and CFO Sean Joseph Glennan; insiders sold 74,628 shares worth about $7.0 million over the last three months.
• Despite mixed fundamentals, analysts remain bullish overall: 17 analysts rate Hut 8 a Buy, with a consensus “Moderate Buy” rating and an average price target of $107.72, while the stock recently traded near $132.38 after a 6% move higher.

BW Gestao de Investimentos Ltda. cut its holdings in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 59.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 233,843 shares of the company's stock after selling 346,157 shares during the quarter. BW Gestao de Investimentos Ltda. owned approximately 0.22% of Hut 8 worth $10,743,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its holdings in Hut 8 by 1.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company's stock valued at $734,000 after purchasing an additional 254 shares during the last quarter. CWM LLC lifted its holdings in shares of Hut 8 by 37.4% in the fourth quarter. CWM LLC now owns 1,106 shares of the company's stock worth $51,000 after buying an additional 301 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Hut 8 by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company's stock worth $331,000 after buying an additional 321 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Hut 8 by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company's stock worth $996,000 after buying an additional 362 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Hut 8 by 1.9% in the third quarter. Arizona State Retirement System now owns 29,290 shares of the company's stock worth $1,020,000 after buying an additional 542 shares in the last quarter. 31.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Amy Marie Wilkinson sold 20,000 shares of the 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 sale, the director owned 262,136 shares of the company's stock, valued at approximately $26,418,066.08. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Sean Joseph Glennan sold 4,625 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $226,856.25. Following the sale, the chief financial officer directly owned 12,068 shares of the company's stock, valued at approximately $591,935.40. This trade represents a 27.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 74,628 shares of company stock worth $6,976,321. 10.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on HUT shares. Northland Securities set a $120.00 price target on shares of Hut 8 in a report on Thursday, May 7th. Jefferies Financial Group started coverage on shares of Hut 8 in a report on Thursday, May 14th. They issued a "buy" rating and a $156.00 price target on the stock. HC Wainwright reissued a "buy" rating and issued a $80.00 price target on shares of Hut 8 in a report on Thursday, February 26th. Citigroup reissued an "outperform" rating on shares of Hut 8 in a report on Tuesday, April 28th. Finally, Compass Point set a $130.00 price target on shares of Hut 8 in a report on Wednesday, May 13th. Seventeen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $107.72.

Hut 8 Stock Up 6.0%

Shares of NASDAQ HUT opened at $132.38 on Tuesday. Hut 8 Corp. has a one year low of $14.88 and a one year high of $134.38. 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 firm's 50 day simple moving average is $80.24 and its two-hundred day simple moving average is $60.58. The stock has a market capitalization of $14.90 billion, a P/E ratio of -44.13 and a beta of 4.61.

Hut 8 (NASDAQ:HUT - Get Free Report) last issued its quarterly 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 business had revenue of $139.31 million for the quarter, compared to the consensus estimate 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, analysts expect that Hut 8 Corp. will post -1.29 EPS 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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