Wealth High Governance Capital Ltda Sells 53,843 Shares of Hut 8 Corp. $HUT

Key Points

• Wealth High Governance Capital Ltda reduced its stake in Hut 8 by 12.8%, selling 53,843 shares and ending the quarter with 366,157 shares (about 3.1% of its holdings), roughly 0.34% of Hut 8 valued at $16,821,000.
• Hut 8 insiders sold shares on March 10: CFO Sean Joseph Glennan sold 4,625 shares and Victor Semah sold 5,498 shares at an average price of $49.05, cutting their positions by 27.71% and 18.15%, respectively.
• Analyst sentiment is largely positive with 16 Buy ratings and 1 Sell, a consensus price target of $76.38, and several recent target increases (e.g., BTIG to $90, Arete initiating coverage at $136).

Wealth High Governance Capital Ltda lowered its position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 12.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 366,157 shares of the company's stock after selling 53,843 shares during the period. Hut 8 comprises about 3.1% of Wealth High Governance Capital Ltda's holdings, making the stock its 11th largest holding. Wealth High Governance Capital Ltda owned approximately 0.34% of Hut 8 worth $16,821,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Hut 8 by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company's stock worth $366,526,000 after purchasing an additional 250,320 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Hut 8 by 20.3% during the third quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company's stock worth $104,133,000 after purchasing an additional 504,652 shares during the last quarter. Value Aligned Research Advisors LLC lifted its stake in Hut 8 by 110.2% during the third quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company's stock worth $67,845,000 after purchasing an additional 1,021,955 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Hut 8 by 45.5% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,555,800 shares of the company's stock worth $54,156,000 after purchasing an additional 486,721 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Hut 8 by 13.2% during the second quarter. Invesco Ltd. now owns 1,067,985 shares of the company's stock worth $19,865,000 after purchasing an additional 124,439 shares during the last quarter. Institutional investors own 31.75% of the company's stock.

Insider Transactions at Hut 8

In related news, CFO Sean Joseph Glennan sold 4,625 shares of the business's stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the transaction, the chief financial officer owned 12,068 shares in the company, valued at $591,935.40. The trade was a 27.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Victor Semah sold 5,498 shares of the business's stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $269,676.90. Following the transaction, the insider owned 24,796 shares in the company, valued at approximately $1,216,243.80. This represents a 18.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 11.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Arete Research started coverage on Hut 8 in a research note on Monday, March 23rd. They set a "buy" rating and a $136.00 price target for the company. Needham & Company LLC boosted their target price on Hut 8 from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. BTIG Research boosted their target price on Hut 8 from $55.00 to $90.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Cantor Fitzgerald boosted their target price on Hut 8 from $68.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Finally, Citigroup reissued an "outperform" rating on shares of Hut 8 in a research note on Tuesday. Sixteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $76.38.

Hut 8 Trading Down 1.5%

NASDAQ HUT opened at $71.00 on Thursday. Hut 8 Corp. has a 1-year low of $11.86 and a 1-year high of $83.18. The firm has a market cap of $7.87 billion, a PE ratio of -30.60 and a beta of 4.38. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.12. The stock has a 50-day moving average of $57.79 and a 200-day moving average of $52.08.

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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