GeoSphere Capital Management LLC Buys 45,000 Shares of Hut 8 Corp. $HUT

Key Points

• GeoSphere Capital Management increased its Hut 8 stake by 64.3% in the fourth quarter, buying 45,000 additional shares and bringing its total to 115,000 shares worth about $5.28 million.
• Other institutional investors also boosted or initiated positions in Hut 8, and overall institutional ownership stands at 31.75% of the stock.
• Analysts remain mostly positive despite some mixed signals: Hut 8 has a Moderate Buy consensus with a $107.72 target price, while the company recently reported a wider-than-expected loss of $1.98 per share even as revenue topped estimates.

GeoSphere Capital Management LLC lifted its stake in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 64.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 115,000 shares of the company's stock after purchasing an additional 45,000 shares during the quarter. Hut 8 accounts for 1.7% of GeoSphere Capital Management LLC's holdings, making the stock its 8th biggest holding. GeoSphere Capital Management LLC owned approximately 0.11% of Hut 8 worth $5,283,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of HUT. Millennium Management LLC grew its holdings in shares of Hut 8 by 11.9% during the 1st quarter. Millennium Management LLC now owns 330,416 shares of the company's stock worth $3,839,000 after purchasing an additional 35,120 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Hut 8 during the 2nd quarter worth $216,000. Russell Investments Group Ltd. grew its holdings in shares of Hut 8 by 235.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company's stock worth $46,000 after purchasing an additional 1,719 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Hut 8 by 19.9% during the 2nd quarter. New York State Common Retirement Fund now owns 32,540 shares of the company's stock worth $605,000 after purchasing an additional 5,400 shares in the last quarter. Finally, Invesco Ltd. grew its holdings 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 purchasing an additional 124,439 shares in the last quarter. 31.75% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HUT has been the topic of several analyst reports. Rosenblatt Securities increased their target price on Hut 8 from $89.00 to $124.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Keefe, Bruyette & Woods increased their target price on Hut 8 from $55.00 to $75.00 and gave the stock a "moderate buy" rating in a report on Tuesday, January 27th. Roth Mkm restated a "buy" rating and set a $80.00 price objective on shares of Hut 8 in a research report on Tuesday, January 27th. HC Wainwright restated a "buy" rating and set a $80.00 price objective on shares of Hut 8 in a research report on Thursday, February 26th. Finally, Wall Street Zen downgraded Hut 8 from a "hold" rating to a "sell" rating in a research report on Saturday, February 28th. Seventeen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.72.

Hut 8 Price Performance

Hut 8 stock opened at $105.90 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $11.92 billion, a PE ratio of -35.30 and a beta of 4.48. Hut 8 Corp. has a 12 month low of $14.74 and a 12 month high of $112.26. The stock has a 50-day moving average price of $71.87 and a two-hundred day moving average price of $57.46.

Hut 8 (NASDAQ:HUT - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported ($1.98) EPS 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 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%. Analysts expect that Hut 8 Corp. will post -1.29 EPS for the current year.

Insider Buying and Selling at Hut 8

In other news, Director Rick Rickertsen sold 17,491 shares of the 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 completion of the sale, the director 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. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Victor Semah sold 10,518 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $76.83, for a total value of $808,097.94. Following the completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. 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. Over the last three months, insiders sold 54,628 shares of company stock worth $4,960,721. 10.40% of the stock is currently owned by insiders.

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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