BW Gestao de Investimentos Ltda. Lowers Position in Hut 8 Corp. $HUT

BW Gestao de Investimentos Ltda. lessened its position in Hut 8 Corp. (NASDAQ:HUT) by 59.7% in the fourth quarter, HoldingsChannel reports. The firm owned 233,843 shares of the company’s stock after selling 346,157 shares during the quarter. BW Gestao de Investimentos Ltda.’s holdings in Hut 8 were worth $10,743,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in Hut 8 during the fourth quarter valued at $30,000. Activest Wealth Management bought a new position in shares of Hut 8 during the fourth quarter valued at $49,000. Danske Bank A S bought a new position in shares of Hut 8 during the fourth quarter valued at $51,000. CWM LLC increased its holdings in shares of Hut 8 by 37.4% during 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, Farther Finance Advisors LLC increased its holdings in shares of Hut 8 by 1,578.3% during the fourth quarter. Farther Finance Advisors LLC now owns 1,393 shares of the company’s stock valued at $64,000 after acquiring an additional 1,310 shares in the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Insider Buying and Selling

In other news, Director Amy Marie Wilkinson sold 20,000 shares of Hut 8 stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the transaction, the director directly owned 262,136 shares of the company’s stock, valued at $26,418,066.08. The trade was a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rick Rickertsen sold 17,491 shares of Hut 8 stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total value of $1,924,010.00. Following the transaction, the director directly owned 17,491 shares in the company, valued at approximately $1,924,010. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 74,628 shares of company stock valued at $6,976,321 in the last 90 days. Corporate insiders own 10.40% of the company’s stock.

Hut 8 Stock Up 6.0%

HUT stock opened at $132.38 on Tuesday. Hut 8 Corp. has a twelve month low of $14.88 and a twelve month high of $134.38. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. The stock has a market cap of $14.90 billion, a P/E ratio of -44.13 and a beta of 4.61. The business’s 50-day moving average price is $80.24 and its 200-day moving average price is $60.58.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. The company had revenue of $139.31 million for the quarter, compared to analysts’ expectations of $78.53 million. On average, equities research analysts forecast that Hut 8 Corp. will post -1.29 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on HUT shares. Needham & Company LLC raised their price target on Hut 8 from $88.00 to $128.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Rosenblatt Securities raised their price target on Hut 8 from $89.00 to $124.00 and gave the company a “buy” rating in a report on Friday, May 8th. Weiss Ratings downgraded Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Hut 8 in a report on Thursday, February 26th. Finally, Canaccord Genuity Group raised their price target on Hut 8 from $70.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Seventeen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.72.

Hut 8 Company 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.