Caitong International Asset Management Co. Ltd Makes New Investment in Hut 8 Corp. $HUT

Caitong International Asset Management Co. Ltd acquired a new position in Hut 8 Corp. (NASDAQ:HUT) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 22,570 shares of the company’s stock, valued at approximately $1,037,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HUT. GAMMA Investing LLC bought a new position in shares of Hut 8 in the fourth quarter worth approximately $30,000. Imprint Wealth LLC purchased a new stake in Hut 8 during the fourth quarter valued at approximately $38,000. Russell Investments Group Ltd. lifted its holdings in shares of Hut 8 by 235.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock valued at $46,000 after purchasing an additional 1,719 shares during the last quarter. Activest Wealth Management acquired a new position in shares of Hut 8 in the 4th quarter valued at $49,000. Finally, Danske Bank A S purchased a new stake in Hut 8 during the 4th quarter valued at about $51,000. 31.75% of the stock is owned by institutional investors.

Insider Activity

In other Hut 8 news, 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 transaction 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 $26,418,066.08. The trade was a 7.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Rick Rickertsen sold 17,491 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total value of $1,924,010.00. Following the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 112,724 shares of company stock worth $12,184,340. Company insiders own 10.40% of the company’s stock.

Hut 8 Stock Performance

Shares of Hut 8 stock opened at $124.44 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. Hut 8 Corp. has a 52 week low of $15.26 and a 52 week high of $140.80. The firm’s 50 day moving average is $99.89 and its two-hundred day moving average is $68.41. The firm has a market capitalization of $14.01 billion, a P/E ratio of -41.48 and a beta of 4.61.

Hut 8 (NASDAQ:HUT) last released its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $78.53 million. Research analysts forecast that Hut 8 Corp. will post -1.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Citizens Jmp increased their price target on Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 7th. Needham & Company LLC upped their target price on Hut 8 from $88.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $124.00 target price on shares of Hut 8 in a report on Thursday, June 11th. Compass Point set a $130.00 price target on Hut 8 in a report on Wednesday, May 13th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Hut 8 in a research note on Tuesday, April 28th. Seventeen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.72.

About Hut 8

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.