Permanent Capital Management LP Makes New Investment in Hut 8 Corp. $HUT

Permanent Capital Management LP acquired a new position in Hut 8 Corp. (NASDAQ:HUT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,000 shares of the company’s stock, valued at approximately $551,000.

Several other hedge funds also recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Hut 8 by 3.5% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock valued at $331,000 after buying an additional 321 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Hut 8 by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 29,290 shares of the company’s stock worth $1,020,000 after buying an additional 542 shares during the last quarter. GAMMA Investing LLC bought a new position in shares of Hut 8 in the fourth quarter valued at approximately $30,000. Advisors Asset Management Inc. grew its holdings in shares of Hut 8 by 68.4% in the second quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $30,000 after acquiring an additional 655 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of Hut 8 by 1.1% during the second quarter. Intech Investment Management LLC now owns 66,957 shares of the company’s stock valued at $1,245,000 after acquiring an additional 734 shares during the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Insider Buying and Selling at Hut 8

In other Hut 8 news, insider Victor Semah sold 5,498 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $269,676.90. Following the sale, the insider owned 24,796 shares in the company, valued at $1,216,243.80. This represents a 18.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sean Joseph Glennan sold 4,625 shares of the firm’s stock in a transaction on 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 directly owned 12,068 shares of the company’s stock, valued at $591,935.40. The trade was a 27.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 11.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Keefe, Bruyette & Woods lifted their price target on Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a report on Tuesday, January 27th. B. Riley Financial raised their target price on Hut 8 from $61.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Craig Hallum reiterated a “buy” rating and set a $80.00 target price on shares of Hut 8 in a research note on Thursday, December 18th. Roth Mkm reissued a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a report on Tuesday, January 27th. Finally, Needham & Company LLC increased their price target on shares of Hut 8 from $60.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Hut 8 presently has a consensus rating of “Moderate Buy” and an average target price of $65.56.

Hut 8 Stock Performance

NASDAQ HUT opened at $47.46 on Friday. The firm has a market cap of $5.26 billion, a P/E ratio of -20.46 and a beta of 4.42. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $54.39 and its 200-day moving average is $46.74. Hut 8 Corp. has a 12-month low of $10.04 and a 12-month high of $66.07.

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.