Dupree Financial Group LLC Takes Position in Hut 8 Corp. $HUT

Key Points

• Dupree Financial Group LLC initiated a new position in Hut 8 during the first quarter, buying 14,368 shares valued at about $674,000.
• Institutional ownership remains notable, with hedge funds and asset managers making mixed adjustments to their stakes; institutions now hold 31.75% of Hut 8 shares.
• Wall Street sentiment is largely positive despite some caution: analysts rate the stock Moderate Buy on average, with a consensus target price of $115.79, while insiders have been selling shares in recent months.

Dupree Financial Group LLC acquired a new position in Hut 8 Corp. (NASDAQ:HUT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,368 shares of the company's stock, valued at approximately $674,000.

Other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in shares of Hut 8 by 1.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company's stock valued at $734,000 after acquiring an additional 254 shares in the last quarter. CWM LLC increased its stake 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 purchasing an additional 301 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Hut 8 by 3.5% in the 3rd 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% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company's stock valued at $996,000 after buying an additional 362 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Hut 8 by 4.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company's stock valued at $413,000 after buying an additional 388 shares during the last quarter. Institutional investors own 31.75% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HUT. Weiss Ratings lowered Hut 8 from a "sell (d+)" rating to a "sell (d-)" rating in a report on Thursday, May 7th. Cantor Fitzgerald lifted their price objective on shares of Hut 8 from $68.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. Rosenblatt Securities reiterated a "buy" rating and issued a $124.00 price objective on shares of Hut 8 in a report on Thursday, June 11th. Compass Point set a $130.00 price objective on shares of Hut 8 in a research report on Wednesday, May 13th. Finally, Citigroup restated an "outperform" rating on shares of Hut 8 in a research note on Tuesday, April 28th. Seventeen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $115.79.

Hut 8 Price Performance

HUT stock opened at $123.02 on Monday. Hut 8 Corp. has a fifty-two week low of $17.42 and a fifty-two week high of $140.80. 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 market capitalization of $13.85 billion, a price-to-earnings ratio of -41.01 and a beta of 4.61. The business's fifty day moving average price is $105.01 and its two-hundred day moving average price is $71.35.

Hut 8 (NASDAQ:HUT - Get Free Report) last announced its 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 net margin of 109.77% and a negative return on equity of 0.35%. The business had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. On average, equities analysts anticipate that Hut 8 Corp. will post -1.29 earnings per share for the current year.

Insider Buying and Selling at Hut 8

In other news, Director Rick Rickertsen sold 17,491 shares of Hut 8 stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total value of $1,924,010.00. Following the completion of the sale, the director directly owned 17,491 shares in the company, valued at approximately $1,924,010. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Flinn sold 7,719 shares of the business's stock in a transaction that occurred on Friday, June 12th. The shares were 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 112,724 shares of company stock worth $12,184,340. 10.40% of the stock is currently owned by company insiders.

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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