Hut 8 Corp. $HUT Shares Sold by Tobam

Tobam reduced its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 85.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,258 shares of the company’s stock after selling 31,802 shares during the period. Tobam’s holdings in Hut 8 were worth $242,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC acquired a new stake in Hut 8 in the fourth quarter valued at $30,000. Imprint Wealth LLC acquired a new position in shares of Hut 8 during the 4th quarter worth about $38,000. Russell Investments Group Ltd. increased its holdings 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 acquiring an additional 1,719 shares during the last quarter. Activest Wealth Management acquired a new stake in shares of Hut 8 during the 4th quarter worth about $49,000. Finally, Danske Bank A S acquired a new stake in shares of Hut 8 during the 4th quarter worth about $51,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $124.00 price target on shares of Hut 8 in a report on Thursday, June 11th. BTIG Research raised their price objective on shares of Hut 8 from $90.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Northland Securities set a $120.00 price objective on shares of Hut 8 in a research report on Thursday, May 7th. Citigroup restated an “outperform” rating on shares of Hut 8 in a report on Tuesday, April 28th. Finally, Jefferies Financial Group started coverage on shares of Hut 8 in a research report on Thursday, May 14th. They issued a “buy” rating and a $156.00 target price on the stock. Seventeen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.72.

Hut 8 Price Performance

HUT stock opened at $124.44 on Friday. The company has a fifty day moving average price of $99.89 and a 200 day moving average price of $68.41. Hut 8 Corp. has a 12 month low of $15.26 and a 12 month high of $140.80. The company has a market cap of $14.01 billion, a price-to-earnings ratio of -41.48 and a beta of 4.61. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86.

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

Insider Buying and Selling at Hut 8

In other news, insider Victor Semah sold 10,000 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the insider owned 31,378 shares in the company, valued at approximately $3,922,250. This represents a 24.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 transaction, the director owned 262,136 shares in the company, valued at $26,418,066.08. This trade represents a 7.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 112,724 shares of company stock worth $12,184,340 over the last three months. 10.40% of the stock is currently owned by corporate insiders.

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.