Dockside LLC Invests $947,000 in Hut 8 Corp. $HUT

Key Points

• Dockside LLC opened a new position in Hut 8 during the fourth quarter, buying 20,609 shares worth about $947,000.
• Institutional interest in Hut 8 remains notable, with hedge funds and other investors owning 31.75% of the company’s stock, while several firms recently increased or initiated stakes.
• Analysts are generally constructive on the stock: Hut 8 carries a Moderate Buy consensus with an average price target of $107.72, even as insiders have been selling shares in recent months.

Dockside LLC purchased a new position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,609 shares of the company's stock, valued at approximately $947,000.

Several other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC purchased a new stake in Hut 8 in the 4th quarter valued at about $30,000. Russell Investments Group Ltd. raised its holdings in Hut 8 by 235.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company's stock valued at $46,000 after buying an additional 1,719 shares during the period. Activest Wealth Management purchased a new stake in Hut 8 in the 4th quarter valued at about $49,000. Danske Bank A S purchased a new stake in Hut 8 in the 4th quarter valued at about $51,000. Finally, CWM LLC raised its holdings in Hut 8 by 37.4% in the 4th quarter. CWM LLC now owns 1,106 shares of the company's stock valued at $51,000 after buying an additional 301 shares during the period. Hedge funds and other institutional investors own 31.75% of the company's stock.

Insider Buying and Selling at Hut 8

In other news, insider Victor Semah sold 10,518 shares of the business's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $76.83, for a total transaction of $808,097.94. Following the completion of the transaction, the insider directly owned 41,378 shares of the company's stock, valued at approximately $3,179,071.74. The trade was a 20.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Rick Rickertsen sold 17,491 shares of the business's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total value of $1,924,010.00. Following the transaction, the director directly owned 17,491 shares of the company's stock, valued at approximately $1,924,010. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 64,505 shares of company stock valued at $6,479,788 in the last three months. 10.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Cantor Fitzgerald boosted their price objective on shares of Hut 8 from $68.00 to $80.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. BTIG Research boosted their price objective on shares of Hut 8 from $90.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Rosenblatt Securities restated a "buy" rating and issued a $124.00 price objective on shares of Hut 8 in a report on Thursday. B. Riley Financial boosted their price objective on shares of Hut 8 from $76.00 to $130.00 and gave the company a "buy" rating in a report on Wednesday, May 13th. Finally, Wall Street Zen lowered shares of Hut 8 from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Seventeen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Hut 8 has a consensus rating of "Moderate Buy" and an average price target of $107.72.

Hut 8 Stock Performance

NASDAQ HUT opened at $118.86 on Monday. The company has a market cap of $13.38 billion, a P/E ratio of -39.62 and a beta of 4.61. 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 stock has a 50-day moving average of $92.90 and a two-hundred day moving average of $65.80. Hut 8 Corp. has a 1-year low of $15.26 and a 1-year high of $140.80.

Hut 8 (NASDAQ:HUT - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The firm had revenue of $139.31 million during the quarter, compared to analyst estimates 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 anticipate that Hut 8 Corp. will post -1.29 EPS for the current year.

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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