Hut 8 Corp. $HUT Holdings Lifted by Situational Awareness LP

Key Points

• Situational Awareness LP boosted its Hut 8 stake by 43.6% in the fourth quarter, buying 261,200 shares and bringing its total to 860,200 shares worth about $39.5 million.
• Institutional interest in Hut 8 remains strong, with hedge funds and other investors owning 31.75% of the company. Several firms also raised their positions sharply, including Northwestern Mutual Wealth Management Co. and Zweig DiMenna Associates LLC.
• Analysts have turned increasingly bullish on the stock, with multiple firms raising price targets; Hut 8 now carries a Moderate Buy consensus and an average price target of $107.72.

Situational Awareness LP increased its holdings in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 43.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 860,200 shares of the company's stock after buying an additional 261,200 shares during the quarter. Hut 8 accounts for approximately 0.7% of Situational Awareness LP's holdings, making the stock its 16th biggest position. Situational Awareness LP owned approximately 0.80% of Hut 8 worth $39,518,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Harvest Portfolios Group Inc. grew its holdings in shares of Hut 8 by 75.3% during the third quarter. Harvest Portfolios Group Inc. now owns 85,093 shares of the company's stock worth $2,962,000 after purchasing an additional 36,543 shares during the last quarter. Zweig DiMenna Associates LLC lifted its stake in shares of Hut 8 by 256.5% during the third quarter. Zweig DiMenna Associates LLC now owns 707,000 shares of the company's stock valued at $24,611,000 after acquiring an additional 508,700 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of 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 valued at $186,629,000 after acquiring an additional 4,062,367 shares during the period. Handelsbanken Fonder AB acquired a new position in shares of Hut 8 during the fourth quarter valued at $1,153,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Hut 8 during the third quarter valued at $1,385,000. Hedge funds and other institutional investors own 31.75% of the company's stock.

Analyst Ratings Changes

HUT has been the topic of several research reports. Cantor Fitzgerald upped their price target on Hut 8 from $68.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Citizens Jmp upped their price target on Hut 8 from $100.00 to $140.00 and gave the company a "market outperform" rating in a research note on Thursday, May 7th. Compass Point set a $130.00 price target on Hut 8 in a research note on Wednesday, May 13th. Rosenblatt Securities upped their price target on Hut 8 from $89.00 to $124.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Finally, Canaccord Genuity Group upped their price target on Hut 8 from $70.00 to $130.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Seventeen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Hut 8 has an average rating of "Moderate Buy" and a consensus price target of $107.72.

Hut 8 Trading Down 12.1%

NASDAQ HUT opened at $112.24 on Friday. The firm has a market cap of $12.64 billion, a P/E ratio of -37.41 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's 50-day moving average is $86.14 and its 200-day moving average is $62.88. Hut 8 Corp. has a one year low of $15.26 and a one year high of $140.80.

Hut 8 (NASDAQ:HUT - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($1.65). The business 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%. Sell-side analysts anticipate that Hut 8 Corp. will post -1.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Sean Joseph Glennan sold 4,625 shares of the firm's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the sale, the chief financial officer owned 12,068 shares of the company's stock, valued at $591,935.40. This trade represents a 27.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Rick Rickertsen sold 17,491 shares of the firm'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 sale, the director directly owned 17,491 shares in the company, valued at approximately $1,924,010. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 74,628 shares of company stock worth $6,976,321. 10.40% of the stock is 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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