Healthcare of Ontario Pension Plan Trust Fund Makes New $4.36 Million Investment in Hut 8 Corp. $HUT

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 92,900 shares of the company's stock, valued at approximately $4,358,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.08% of Hut 8 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in Hut 8 by 4,669,387.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company's stock worth $186,629,000 after purchasing an additional 4,062,367 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in Hut 8 in the fourth quarter worth approximately $1,153,000. Steadview Capital Management LLC boosted its stake in Hut 8 by 1,425.3% during the 4th quarter. Steadview Capital Management LLC now owns 431,655 shares of the company's stock valued at $19,830,000 after purchasing an additional 403,355 shares in the last quarter. GeoSphere Capital Management LLC boosted its stake in Hut 8 by 64.3% during the 4th quarter. GeoSphere Capital Management LLC now owns 115,000 shares of the company's stock valued at $5,283,000 after purchasing an additional 45,000 shares in the last quarter. Finally, Thoroughbred Financial Services LLC acquired a new position in shares of Hut 8 during the 4th quarter valued at $741,000. 31.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Hut 8 news, Director Amy Marie Wilkinson sold 20,000 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $100.78, for a total transaction 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. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Victor Semah sold 10,518 shares of the firm'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 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 SEC filing for this sale provides additional information. 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 quarter, insiders have sold 112,724 shares of company stock worth $12,184,340. Company insiders own 10.40% of the company's stock.

Hut 8 Stock Performance

HUT opened at $108.27 on Friday. The firm has a market cap of $12.19 billion, a PE ratio of -36.09 and a beta of 4.62. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $111.81 and a 200-day simple moving average of $80.64. Hut 8 Corp. has a fifty-two week low of $18.68 and a fifty-two week high of $140.80.

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). The company had revenue of $139.31 million for the quarter, compared to analyst estimates of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. As a group, equities analysts predict that Hut 8 Corp. will post -2.52 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HUT shares. Needham & Company LLC upped their price objective on Hut 8 from $128.00 to $145.00 and gave the company a "buy" rating in a report on Monday, July 20th. Citigroup reaffirmed an "outperform" rating on shares of Hut 8 in a report on Tuesday, April 28th. Northland Securities set a $120.00 price target on shares of Hut 8 in a research report on Thursday, May 7th. Cantor Fitzgerald upped their price target 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. Finally, Weiss Ratings cut shares of Hut 8 from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Thursday, May 7th. Eighteen 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $137.20.

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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