SPX Gestao de Recursos Ltda Takes $2.12 Million Position in Hut 8 Corp. $HUT

Key Points

• SPX Gestao de Recursos Ltda opened a new 3Q position in Hut 8, purchasing 60,800 shares worth about $2.12 million, roughly 0.06% of the company according to its latest 13F filing.
• Several other institutions (including Millennium Management, Bank of Montreal, Teacher Retirement System of Texas and Harvest) have increased holdings, leaving institutional ownership at about 31.75%.
• Hut 8 shares were recently down ~8.4% to $47.07 with a market cap of ~$5.22 billion; analysts maintain a consensus "Moderate Buy" rating and an average target of $65.56, with multiple firms issuing $80 targets.

SPX Gestao de Recursos Ltda bought a new position in Hut 8 Corp. (NASDAQ:HUT - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 60,800 shares of the company's stock, valued at approximately $2,116,000. SPX Gestao de Recursos Ltda owned about 0.06% of Hut 8 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Millennium Management LLC raised its stake in Hut 8 by 11.9% during the first 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 during the period. Nisa Investment Advisors LLC increased its holdings in shares of Hut 8 by 116.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,515 shares of the company's stock worth $28,000 after buying an additional 815 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Hut 8 by 20.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 14,855 shares of the company's stock worth $276,000 after buying an additional 2,550 shares during the last quarter. Bank of Montreal Can raised its position in shares of Hut 8 by 21.7% in the 2nd quarter. Bank of Montreal Can now owns 18,806 shares of the company's stock worth $351,000 after buying an additional 3,358 shares during the period. Finally, Harvest Portfolios Group Inc. raised its position in shares of Hut 8 by 70.9% in the 2nd quarter. Harvest Portfolios Group Inc. now owns 48,550 shares of the company's stock worth $903,000 after buying an additional 20,145 shares during the period. Institutional investors and hedge funds own 31.75% of the company's stock.

Hut 8 Stock Down 8.4%

Shares of NASDAQ:HUT opened at $47.07 on Friday. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of -20.29 and a beta of 4.42. The company has a 50 day moving average of $55.09 and a two-hundred day moving average of $44.86. Hut 8 Corp. has a 52-week low of $10.04 and a 52-week high of $66.07. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.12.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on HUT shares. Roth Mkm restated a "buy" rating and set a $80.00 price target on shares of Hut 8 in a research note on Tuesday, January 27th. HC Wainwright restated a "buy" rating and issued a $80.00 price target on shares of Hut 8 in a report on Thursday, February 26th. Piper Sandler reiterated an "overweight" rating on shares of Hut 8 in a research note on Thursday, December 18th. Craig Hallum reissued a "buy" rating and issued a $80.00 target price on shares of Hut 8 in a research note on Thursday, December 18th. Finally, Weiss Ratings lowered shares of Hut 8 from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.56.

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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