Trivest Advisors Ltd Makes New Investment in Hut 8 Corp. $HUT

Key Points

• Trivest Advisors Ltd opened a new position in Hut 8, buying 102,400 shares worth about $4.7 million in the fourth quarter. The stake represents roughly 0.2% of Trivest’s portfolio.
• Hut 8 stock was down 12.1% in Friday trading, even though the company’s shares have ranged from a 52-week low of $15.26 to a high of $140.80. The company has a $12.64 billion market cap and a highly volatile beta of 4.61.
• Hut 8 posted mixed quarterly results, with EPS of -$1.98 missing estimates but revenue of $139.31 million topping expectations. Analysts remain broadly constructive, with 17 Buy ratings and a consensus rating of Moderate Buy.

Trivest Advisors Ltd purchased a new position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 102,400 shares of the company's stock, valued at approximately $4,704,000. Hut 8 comprises about 0.2% of Trivest Advisors Ltd's portfolio, making the stock its 25th biggest position. Trivest Advisors Ltd owned about 0.09% of Hut 8 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Hut 8 by 4,669,387.4% in 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 buying an additional 4,062,367 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Hut 8 by 1,043.0% in the second quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company's stock valued at $46,255,000 after buying an additional 2,269,237 shares in the last quarter. Value Aligned Research Advisors LLC grew its stake in shares of Hut 8 by 110.2% in the third quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company's stock valued at $67,845,000 after buying an additional 1,021,955 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Hut 8 in the third quarter valued at about $35,044,000. Finally, Nishkama Capital LLC acquired a new stake in shares of Hut 8 in the third quarter valued at about $28,137,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Trading Down 12.1%

Shares of HUT opened at $112.24 on Friday. The company has a market capitalization of $12.64 billion, a P/E ratio of -37.41 and a beta of 4.61. Hut 8 Corp. has a one year low of $15.26 and a one year high of $140.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a 50-day moving average price of $86.14 and a 200 day moving average price of $62.88.

Hut 8 (NASDAQ:HUT - Get Free Report) last issued 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 during the quarter, compared to analysts' expectations of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. Sell-side analysts forecast that Hut 8 Corp. will post -1.29 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Sean Joseph Glennan sold 4,625 shares of the 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 completion of the transaction, the chief financial officer owned 12,068 shares of the company's stock, valued at approximately $591,935.40. This represents a 27.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Amy Marie Wilkinson sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $100.78, for a total value of $2,015,600.00. Following the transaction, the director directly owned 262,136 shares in the company, valued at approximately $26,418,066.08. This represents a 7.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 74,628 shares of company stock worth $6,976,321. Company insiders own 10.40% of the company's stock.

Analyst Upgrades and Downgrades

HUT has been the subject of a number of recent research reports. Compass Point set a $130.00 target price on Hut 8 in a research note on Wednesday, May 13th. Weiss Ratings lowered Hut 8 from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Thursday, May 7th. HC Wainwright reiterated a "buy" rating and issued a $80.00 target price on shares of Hut 8 in a research note on Thursday, February 26th. B. Riley Financial increased their target price on Hut 8 from $76.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Finally, Arete Research initiated coverage on Hut 8 in a research note on Monday, March 23rd. They issued a "buy" rating and a $136.00 target price for the company. Seventeen analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Hut 8 has a consensus rating of "Moderate Buy" and an average price target of $107.72.

Hut 8 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.