Hut 8 Corp. $HUT Holdings Lowered by Central Asset Investments & Management Holdings HK Ltd

Key Points

• Central Asset Investments cut its Hut 8 stake by 60.7% in the fourth quarter, leaving it with 8,655 shares valued at about $398,000.
• Insider selling was notable, with director Rick Rickertsen and CFO Sean Joseph Glennan both reducing their holdings; insiders sold 54,628 shares worth nearly $5.0 million over the last three months.
• Hut 8 reported a wider-than-expected loss of ($1.98) EPS on revenue of $139.31 million, while analysts remain broadly bullish with a consensus rating of Moderate Buy and an average price target of $104.88.

Central Asset Investments & Management Holdings HK Ltd decreased its stake in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 60.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,655 shares of the company's stock after selling 13,345 shares during the quarter. Hut 8 accounts for about 0.3% of Central Asset Investments & Management Holdings HK Ltd's investment portfolio, making the stock its 28th largest holding. Central Asset Investments & Management Holdings HK Ltd's holdings in Hut 8 were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC acquired a new position in shares of Hut 8 in the 4th quarter valued at $30,000. Russell Investments Group Ltd. boosted its position in shares of Hut 8 by 235.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company's stock valued at $46,000 after purchasing an additional 1,719 shares during the period. Activest Wealth Management acquired a new position in shares of Hut 8 in the 4th quarter valued at $49,000. Danske Bank A S acquired a new position in shares of Hut 8 in the 4th quarter valued at $51,000. Finally, CWM LLC boosted its position in shares of Hut 8 by 37.4% in the 4th quarter. CWM LLC now owns 1,106 shares of the company's stock valued at $51,000 after purchasing an additional 301 shares during the period. Institutional investors and hedge funds own 31.75% of the company's stock.

Insider Transactions at Hut 8

In other news, 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 transaction of $1,924,010.00. Following the completion of the sale, the director directly owned 17,491 shares of the company's stock, valued at $1,924,010. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $226,856.25. Following the sale, the chief financial officer directly 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 disclosure for this sale is available in the SEC filing. Insiders sold 54,628 shares of company stock valued at $4,960,721 in the last three months. Corporate insiders own 10.40% of the company's stock.

Hut 8 Stock Up 0.9%

Shares of Hut 8 stock opened at $108.32 on Thursday. The stock has a 50-day moving average price of $64.68 and a 200 day moving average price of $54.96. The company has a market cap of $12.20 billion, a P/E ratio of -36.11 and a beta of 4.48. 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 Corp. has a 1 year low of $14.74 and a 1 year high of $112.26.

Hut 8 (NASDAQ:HUT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) 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 during the quarter, compared to analysts' expectations of $78.53 million. As a group, analysts expect that Hut 8 Corp. will post -1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. B. Riley Financial increased their price target on Hut 8 from $76.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday. Keefe, Bruyette & Woods increased their price target 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. Roth Mkm reissued a "buy" rating and issued a $80.00 price objective on shares of Hut 8 in a research note on Tuesday, January 27th. Compass Point set a $130.00 price objective on Hut 8 in a research note on Wednesday. Finally, Cantor Fitzgerald increased their price objective on Hut 8 from $68.00 to $80.00 and gave the stock an "overweight" rating in a research note on Thursday, April 9th. Sixteen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $104.88.

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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