Handelsbanken Fonder AB Makes New $1.15 Million Investment in Hut 8 Corp. $HUT

Key Points

• Handelsbanken Fonder AB opened a new position in Hut 8 during the fourth quarter, buying 25,100 shares worth about $1.15 million.
• Institutional interest in Hut 8 remains notable, with several large investors expanding positions and institutional ownership now at 31.75% of the company.
• Hut 8 shares were up 6.3% to $112.54, while analysts stayed broadly positive: 17 Buy ratings versus one Sell, with a consensus price target of $107.72.

Handelsbanken Fonder AB acquired a new position in Hut 8 Corp. (NASDAQ:HUT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 25,100 shares of the company's stock, valued at approximately $1,153,000.

A number of other large investors have also added to or reduced their stakes in HUT. Northwestern Mutual Wealth Management Co. increased its stake in Hut 8 by 4,669,387.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company's stock worth $186,629,000 after acquiring an additional 4,062,367 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Hut 8 by 1,043.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company's stock worth $46,255,000 after acquiring an additional 2,269,237 shares during the last quarter. Value Aligned Research Advisors LLC increased its position in shares of Hut 8 by 110.2% during the 3rd quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company's stock valued at $67,845,000 after purchasing an additional 1,021,955 shares during the last quarter. Voloridge Investment Management LLC bought a new position in shares of Hut 8 during the 3rd quarter valued at approximately $35,044,000. Finally, Nishkama Capital LLC bought a new position in shares of Hut 8 during the 3rd quarter valued at approximately $28,137,000. Institutional investors own 31.75% of the company's stock.

Insider Transactions at Hut 8

In other news, Director Amy Marie Wilkinson sold 20,000 shares of the stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Sean Joseph Glennan sold 4,625 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $226,856.25. Following the transaction, the chief financial officer directly owned 12,068 shares in the company, valued at $591,935.40. The trade was a 27.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 74,628 shares of company stock worth $6,976,321 over the last quarter. 10.40% of the stock is owned by corporate insiders.

Hut 8 Stock Up 6.3%

NASDAQ:HUT opened at $112.54 on Wednesday. Hut 8 Corp. has a twelve month low of $14.74 and a twelve month high of $116.45. The company has a market cap of $12.67 billion, a price-to-earnings ratio of -37.51 and a beta of 4.48. The stock has a fifty day simple moving average of $74.31 and a 200-day simple moving average of $58.33. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12.

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). Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%.The business had revenue of $139.31 million for the quarter, compared to the consensus estimate of $78.53 million. Analysts anticipate that Hut 8 Corp. will post -1.29 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. B. Riley Financial boosted their target price on Hut 8 from $76.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, May 13th. Piper Sandler boosted their target price on Hut 8 from $93.00 to $127.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Roth Mkm reissued a "buy" rating and set a $80.00 target price on shares of Hut 8 in a research report on Tuesday, January 27th. Jefferies Financial Group assumed coverage on Hut 8 in a research report on Thursday, May 14th. They set a "buy" rating and a $156.00 target price on the stock. Finally, Keefe, Bruyette & Woods boosted their target price on Hut 8 from $55.00 to $75.00 and gave the company a "moderate buy" rating in a research report on Tuesday, January 27th. Seventeen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Hut 8 currently has a consensus rating of "Moderate Buy" and an average price target of $107.72.

Hut 8 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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