CenterBook Partners LP Takes Position in Hut 8 Corp. $HUT

CenterBook Partners LP bought a new stake in shares of Hut 8 Corp. (NASDAQ:HUT) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 28,617 shares of the company’s stock, valued at approximately $996,000.

Several other large investors also recently made changes to their positions in the company. BBR Partners LLC acquired a new position in shares of Hut 8 during the third quarter worth approximately $560,000. Zweig DiMenna Associates LLC raised its stake in Hut 8 by 256.5% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 707,000 shares of the company’s stock valued at $24,611,000 after acquiring an additional 508,700 shares in the last quarter. Vanguard Group Inc. raised its stake in Hut 8 by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,728,037 shares of the company’s stock valued at $269,013,000 after acquiring an additional 140,248 shares in the last quarter. Tobam boosted its position in Hut 8 by 6.1% during the 3rd quarter. Tobam now owns 37,060 shares of the company’s stock worth $1,290,000 after acquiring an additional 2,115 shares during the period. Finally, Cibc World Market Inc. bought a new position in shares of Hut 8 in the third quarter worth $261,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Trading Down 1.9%

Shares of NASDAQ HUT opened at $53.82 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14. Hut 8 Corp. has a one year low of $10.04 and a one year high of $66.07. The business has a 50-day moving average price of $53.56 and a two-hundred day moving average price of $42.69. The firm has a market capitalization of $5.81 billion, a PE ratio of -138.00 and a beta of 4.42.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Northland Securities set a $58.00 target price on shares of Hut 8 in a research report on Wednesday, November 5th. Canaccord Genuity Group upped their price target on shares of Hut 8 from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. 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 set a $80.00 target price on shares of Hut 8 in a report on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Hut 8 in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $64.69.

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.