Hut 8 Corp. $HUT Shares Bought by Banco BTG Pactual S.A.

Banco BTG Pactual S.A. grew its holdings in Hut 8 Corp. (NASDAQ:HUT) by 608.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,000 shares of the company’s stock after acquiring an additional 73,000 shares during the period. Banco BTG Pactual S.A. owned about 0.08% of Hut 8 worth $3,905,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Nisa Investment Advisors LLC raised its stake in shares of Hut 8 by 1.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock valued at $734,000 after acquiring an additional 254 shares during the period. CWM LLC raised its stake in shares of Hut 8 by 37.4% in the 4th quarter. CWM LLC now owns 1,106 shares of the company’s stock valued at $51,000 after acquiring an additional 301 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of 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 acquiring an additional 321 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Hut 8 by 1.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock valued at $996,000 after acquiring an additional 362 shares during the period. Finally, GAMMA Investing LLC purchased a new position in shares of Hut 8 in the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Insider Transactions at Hut 8

In other news, Director Amy Marie Wilkinson sold 20,000 shares of Hut 8 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 directly owned 262,136 shares of the company’s stock, valued at approximately $26,418,066.08. The trade was a 7.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Victor Semah sold 10,518 shares of Hut 8 stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $76.83, for a total transaction of $808,097.94. Following the completion of the transaction, the insider directly owned 41,378 shares of the company’s stock, valued at $3,179,071.74. This trade represents a 20.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last 90 days, insiders sold 64,505 shares of company stock valued at $6,479,788. Insiders own 10.40% of the company’s stock.

Hut 8 Price Performance

HUT opened at $116.31 on Friday. The company has a 50-day moving average of $91.47 and a 200-day moving average of $65.24. The company has a market capitalization of $13.10 billion, a P/E ratio of -38.77 and a beta of 4.61. Hut 8 Corp. has a 1-year low of $15.26 and a 1-year high of $140.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86.

Hut 8 (NASDAQ:HUT) last released 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 company had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. Equities analysts expect that Hut 8 Corp. will post -1.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on HUT. Compass Point set a $130.00 target price on shares of Hut 8 in a research note on Wednesday, May 13th. Citizens Jmp lifted their price target on shares of Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 7th. B. Riley Financial lifted their price target on shares of Hut 8 from $76.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Citigroup reaffirmed an “outperform” rating on shares of Hut 8 in a research note on Tuesday, April 28th. Finally, Canaccord Genuity Group lifted their price target on shares of Hut 8 from $70.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Seventeen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently 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.