Geode Capital Management LLC Purchases 79,591 Shares of Hut 8 Corp. $HUT

Geode Capital Management LLC lifted its holdings in Hut 8 Corp. (NASDAQ:HUT) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,593,916 shares of the company’s stock after purchasing an additional 79,591 shares during the quarter. Geode Capital Management LLC owned 2.40% of Hut 8 worth $119,181,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in shares of Hut 8 during the 4th quarter valued at approximately $30,000. Russell Investments Group Ltd. grew its position in shares of Hut 8 by 235.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock valued at $46,000 after buying an additional 1,719 shares during the last quarter. Activest Wealth Management bought a new position in Hut 8 during the 4th quarter worth approximately $49,000. CWM LLC lifted its holdings in 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 buying an additional 301 shares during the period. Finally, Danske Bank A S bought a new stake in shares of Hut 8 during the 4th quarter valued at about $51,000. 31.75% of the stock is currently owned by institutional investors.

Hut 8 Price Performance

HUT stock opened at $112.24 on Friday. Hut 8 Corp. has a fifty-two week low of $15.26 and a fifty-two week high of $140.80. The stock has a market cap of $12.64 billion, a price-to-earnings ratio of -37.41 and a beta of 4.61. 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 business has a 50 day moving average price of $86.14 and a 200 day moving average price of $62.88.

Hut 8 (NASDAQ:HUT) last announced its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The firm had revenue of $139.31 million during the quarter, compared to analyst estimates of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. Equities research analysts anticipate that Hut 8 Corp. will post -1.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Hut 8

In other Hut 8 news, insider Victor Semah sold 10,518 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $76.83, for a total transaction of $808,097.94. Following the completion of the transaction, the insider owned 41,378 shares of the company’s stock, valued at approximately $3,179,071.74. The trade was a 20.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Amy Marie Wilkinson sold 20,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $100.78, for a total value of $2,015,600.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 74,628 shares of company stock valued at $6,976,321. Corporate insiders own 10.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on HUT shares. Northland Securities set a $120.00 price target on shares of Hut 8 in a research report on Thursday, May 7th. B. Riley Financial increased their price target on shares of Hut 8 from $76.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Piper Sandler boosted their target price on Hut 8 from $93.00 to $127.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. HC Wainwright restated a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a report on Thursday, February 26th. Finally, Weiss Ratings cut shares of Hut 8 from a “sell (d+)” rating to a “sell (d-)” 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 stock. According to data from MarketBeat, Hut 8 has a consensus rating of “Moderate Buy” and a consensus price target 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.