Hut 8 Corp. $HUT Stock Position Decreased by Central Asset Investments & Management Holdings HK Ltd

Central Asset Investments & Management Holdings HK Ltd cut its position in shares of Hut 8 Corp. (NASDAQ:HUT) by 60.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,655 shares of the company’s stock after selling 13,345 shares during the period. Hut 8 accounts for about 0.3% of Central Asset Investments & Management Holdings HK Ltd’s investment portfolio, making the stock its 28th largest position. Central Asset Investments & Management Holdings HK Ltd’s holdings in Hut 8 were worth $398,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in HUT. GAMMA Investing LLC bought a new position in shares of Hut 8 in the 4th quarter valued at approximately $30,000. Russell Investments Group Ltd. raised its stake 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 in the last quarter. Activest Wealth Management bought a new position in shares of Hut 8 in the 4th quarter valued at approximately $49,000. Danske Bank A S bought a new position in shares of Hut 8 in the 4th quarter valued at approximately $51,000. Finally, 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 in the last quarter. 31.75% of the stock is owned by institutional investors.

Insider Transactions at Hut 8

In other news, Director Rick Rickertsen sold 17,491 shares of Hut 8 stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the sale, the director owned 17,491 shares of the company’s stock, valued at approximately $1,924,010. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sean Joseph Glennan sold 4,625 shares of Hut 8 stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $226,856.25. Following the sale, the chief financial officer directly owned 12,068 shares in the company, valued at $591,935.40. The trade was a 27.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 54,628 shares of company stock valued at $4,960,721. 10.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HUT shares. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a research note on Thursday, February 26th. Weiss Ratings downgraded Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Compass Point set a $130.00 price objective on Hut 8 in a research note on Wednesday. Needham & Company LLC raised their price objective on Hut 8 from $88.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, BTIG Research raised their price objective on Hut 8 from $90.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Sixteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.88.

Hut 8 Stock Performance

HUT opened at $108.32 on Thursday. The firm has a market capitalization of $12.20 billion, a P/E ratio of -36.11 and a beta of 4.48. The stock’s 50 day moving average price is $64.68 and its two-hundred day moving average price is $54.96. 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 12-month low of $14.74 and a 12-month high of $112.26.

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). The business 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%. On average, equities analysts forecast that Hut 8 Corp. will post -1.5 earnings per share for the current year.

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.