State of New Jersey Common Pension Fund D Purchases New Holdings in Hut 8 Corp. $HUT

Key Points

• State of New Jersey Common Pension Fund D purchased a new stake of 55,776 shares in Hut 8 (~$2.56M), representing about 0.05% of the company, while institutional investors own roughly 31.75% of the stock.
• Hut 8 signed a 15‑year, triple‑net lease for 352 MW at Beacon Point with a base‑term contract value of $9.8 billion and closed $3.25 billion of 16.5‑year senior secured notes to finance the River Bend campus, moves that advance its AI/data‑center expansion and de‑risk growth.
• Analysts have turned bullish—16 Buy ratings vs. one Sell with an average target of $80.06—and several firms raised targets after the lease and financing; the stock has surged (about 35% to roughly $109), even as insiders executed pre‑arranged share sales.

State of New Jersey Common Pension Fund D purchased a new stake in Hut 8 Corp. (NASDAQ:HUT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 55,776 shares of the company's stock, valued at approximately $2,562,000. State of New Jersey Common Pension Fund D owned approximately 0.05% of Hut 8 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in Hut 8 in the 4th quarter valued at about $30,000. CWM LLC lifted its stake in 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 buying an additional 301 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Hut 8 by 1,578.3% in the 4th quarter. Farther Finance Advisors LLC now owns 1,393 shares of the company's stock worth $64,000 after purchasing an additional 1,310 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Hut 8 by 67.2% in the 3rd quarter. NewEdge Advisors LLC now owns 2,257 shares of the company's stock worth $79,000 after purchasing an additional 907 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Hut 8 by 235.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company's stock worth $46,000 after purchasing an additional 1,719 shares in the last quarter. 31.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Canaccord Genuity Group raised their target price on shares of Hut 8 from $62.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, February 27th. Needham & Company LLC raised their target price on shares of Hut 8 from $60.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, February 26th. Rosenblatt Securities reissued a "buy" rating and issued a $65.00 target price on shares of Hut 8 in a research note on Thursday, February 26th. Keefe, Bruyette & Woods raised their target price on shares of Hut 8 from $55.00 to $75.00 and gave the stock a "moderate buy" rating in a research note on Tuesday, January 27th. Finally, Piper Sandler raised their target price on shares of Hut 8 from $93.00 to $127.00 and gave the stock an "overweight" rating in a research note on Wednesday. Sixteen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $80.06.

Hut 8 Stock Up 35.3%

HUT stock opened at $108.94 on Thursday. The firm has a market cap of $12.26 billion, a PE ratio of -46.96 and a beta of 4.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.09 and a current ratio of 1.09. The firm's 50 day moving average price is $59.84 and its 200-day moving average price is $52.89. Hut 8 Corp. has a one year low of $12.45 and a one year high of $111.33.

More Hut 8 News

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Signed a 15‑year, triple‑net, take‑or‑pay lease for 352 MW at the Beacon Point (Texas) campus with a high investment‑grade tenant — a base‑term contract value of $9.8 billion that expands Hut 8’s contracted AI capacity and validates its power‑first development model. Beacon Point Lease
• Positive Sentiment: Closed $3.25 billion of fully amortizing, 16.5‑year investment‑grade senior secured notes (≈95% loan‑to‑cost) to finance the River Bend campus — non‑dilutive, non‑recourse project financing that de‑risks growth and supports delivery of additional AI capacity. Quarterly Results & Financing
• Positive Sentiment: Wall Street responded: BTIG and Piper Sandler raised price targets and reiterated buy/overweight views, signaling analyst conviction after the lease and financing announcements. Analyst Coverage
• Neutral Sentiment: Secured a $200M, 364‑day bitcoin‑backed credit facility with FalconX at a 7% rate, replacing prior financing and improving short‑term liquidity and BTC access. FalconX Facility
• Neutral Sentiment: Q1 results were mixed: the company reported higher revenue (reflecting early commercialization and data‑center activity) but showed a quarterly EPS shortfall on certain metrics; investors are focusing on the pipeline and contract backlog rather than near‑term EPS. Q1 Results
• Negative Sentiment: Insider sold 10,518 shares under a pre‑arranged Rule 10b5‑1 plan to cover tax obligations — disclosed selling can be interpreted negatively by some investors even though it was routine/plan‑based. Insider Sale Filing

Insider Activity at Hut 8

In other news, CFO Sean Joseph Glennan sold 4,625 shares of Hut 8 stock in a transaction that occurred on Tuesday, March 10th. The shares were 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 approximately $591,935.40. The trade was a 27.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victor Semah sold 10,518 shares of Hut 8 stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $76.83, for a total transaction of $808,097.94. Following the sale, the insider directly owned 41,378 shares in the company, valued at approximately $3,179,071.74. The trade was a 20.27% decrease in their position. 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. In the last ninety days, insiders have sold 20,641 shares of company stock worth $1,304,631. Corporate insiders own 11.20% of the company's stock.

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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