Caitong International Asset Management Co. Ltd Takes Position in Hut 8 Corp. $HUT

Key Points

• Caitong International Asset Management initiated a new position in Hut 8 during the fourth quarter, buying 22,570 shares valued at about $1.04 million.
• Other institutional investors were also active in the stock, and overall 31.75% of Hut 8 shares are now held by institutions and hedge funds.
• Hut 8 has seen notable insider selling, including recent sales by directors Joseph Flinn and Amy Marie Wilkinson, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $107.72.

Caitong International Asset Management Co. Ltd purchased a new stake in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 22,570 shares of the company's stock, valued at approximately $1,037,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HUT. Nisa Investment Advisors LLC boosted its stake in shares of Hut 8 by 1.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company's stock worth $734,000 after acquiring an additional 254 shares during the last quarter. CWM LLC boosted its position in shares of 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in 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 valued at $331,000 after purchasing an additional 321 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Hut 8 by 1.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company's stock worth $996,000 after acquiring an additional 362 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its position in Hut 8 by 4.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company's stock worth $413,000 after purchasing an additional 388 shares during the last quarter. 31.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hut 8

In other Hut 8 news, Director Joseph Flinn sold 7,719 shares of the company's stock in a transaction dated 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 transaction, the director owned 10,519 shares of the company's stock, valued at $1,240,295.29. This represents a 42.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Amy Marie Wilkinson sold 20,000 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $100.78, for a total value of $2,015,600.00. Following the completion of the sale, the director directly owned 262,136 shares of the company's stock, valued at approximately $26,418,066.08. The trade was a 7.09% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 112,724 shares of company stock worth $12,184,340. 10.40% of the stock is owned by corporate insiders.

Hut 8 Price Performance

Hut 8 stock opened at $124.44 on Friday. The business has a 50 day simple moving average of $99.89 and a 200 day simple moving average of $68.41. 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 company has a market capitalization of $14.01 billion, a PE ratio of -41.48 and a beta of 4.61. Hut 8 Corp. has a one year low of $15.26 and a one year high of $140.80.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HUT shares. Rosenblatt Securities restated a "buy" rating and issued a $124.00 price target on shares of Hut 8 in a report on Thursday, June 11th. Compass Point set a $130.00 target price on shares of Hut 8 in a research note on Wednesday, May 13th. Citizens Jmp lifted their price objective on shares of Hut 8 from $100.00 to $140.00 and gave the stock a "market outperform" rating in a report on Thursday, May 7th. B. Riley Financial upped their target price on Hut 8 from $76.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Finally, Weiss Ratings downgraded 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 given a Sell rating to the company. Based on data from MarketBeat.com, Hut 8 has a consensus rating of "Moderate Buy" and an average price target of $107.72.

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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