UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 31.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,681 shares of the company's stock after purchasing an additional 50,360 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.17% of Hut 8 worth $24,438,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of HUT. CoreCap Advisors LLC lifted its holdings in shares of Hut 8 by 42.1% in the 2nd quarter. CoreCap Advisors LLC now owns 540 shares of the company's stock worth $62,000 after buying an additional 160 shares during the period. Arlington Trust Co LLC increased its stake in shares of Hut 8 by 175.0% during the second quarter. Arlington Trust Co LLC now owns 275 shares of the company's stock valued at $32,000 after buying an additional 175 shares during the period. GAMMA Investing LLC increased its stake in shares of Hut 8 by 35.0% during the second quarter. GAMMA Investing LLC now owns 1,057 shares of the company's stock valued at $122,000 after buying an additional 274 shares during the period. CWM LLC raised its holdings in shares of Hut 8 by 37.4% in the fourth quarter. CWM LLC now owns 1,106 shares of the company's stock valued at $51,000 after acquiring an additional 301 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Hut 8 by 4.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company's stock valued at $413,000 after acquiring an additional 388 shares in the last quarter. 31.75% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
HUT has been the topic of several recent research reports. BTIG Research increased their target price on shares of Hut 8 from $115.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, June 24th. Compass Point set a $195.00 price target on shares of Hut 8 in a research report on Wednesday, July 22nd. Loop Capital set a $226.00 price objective on shares of Hut 8 in a research note on Monday, June 22nd. Keefe, Bruyette & Woods cut their price objective on shares of Hut 8 from $157.00 to $154.00 and set an "outperform" rating on the stock in a report on Thursday, August 6th. Finally, Piper Sandler boosted their price objective on shares of Hut 8 from $127.00 to $143.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Hut 8 presently has an average rating of "Buy" and an average price target of $144.89.
Read Our Latest Stock Report on HUT
Hut 8 Stock Up 6.2%
NASDAQ:HUT opened at $93.54 on Friday. The company's 50-day simple moving average is $95.29 and its 200-day simple moving average is $86.07. The company has a debt-to-equity ratio of 4.22, a quick ratio of 19.35 and a current ratio of 19.35. Hut 8 Corp. has a fifty-two week low of $24.20 and a fifty-two week high of $140.80. The stock has a market capitalization of $11.53 billion, a P/E ratio of -17.16 and a beta of 4.51.
Hut 8 (NASDAQ:HUT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The firm had revenue of $74.93 million for the quarter, compared to the consensus estimate of $79.37 million. Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%.During the same quarter last year, the firm earned $1.18 EPS. On average, equities analysts anticipate that Hut 8 Corp. will post -2.85 earnings per share for the current fiscal year.
Insider Transactions at Hut 8
In related news, insider Victor Semah sold 10,000 shares of the company's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the transaction, the insider directly owned 31,378 shares of the company's stock, valued at $3,922,250. This represents a 24.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Sean Glennan sold 6,445 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $78.76, for a total value of $507,608.20. Following the completion of the sale, the chief financial officer owned 17,978 shares of the company's stock, valued at approximately $1,415,947.28. This trade represents a 26.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 54,664 shares of company stock valued at $6,212,160. Corporate insiders own 10.40% of the company's stock.
Hut 8 Profile
(
Free Report)
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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