5,550 Shares in Hut 8 Corp. $HUT Bought by Leonteq Securities AG

Leonteq Securities AG acquired a new position in Hut 8 Corp. (NASDAQ:HUT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,550 shares of the company’s stock, valued at approximately $255,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Hut 8 by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock worth $366,526,000 after buying an additional 250,320 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Hut 8 by 4,669,387.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after buying an additional 4,062,367 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Hut 8 by 20.3% in the third quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock worth $104,133,000 after buying an additional 504,652 shares in the last quarter. Value Aligned Research Advisors LLC raised its position in shares of Hut 8 by 110.2% in the third quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company’s stock worth $67,845,000 after buying an additional 1,021,955 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Hut 8 by 45.5% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,555,800 shares of the company’s stock worth $54,156,000 after buying an additional 486,721 shares in the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Insider Activity

In other news, Director Rick Rickertsen sold 17,491 shares of the firm’s stock in a transaction dated 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 transaction, the director directly owned 17,491 shares of the company’s stock, valued at approximately $1,924,010. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Sean Joseph Glennan sold 4,625 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $226,856.25. Following the transaction, the chief financial officer directly owned 12,068 shares in the company, valued at $591,935.40. This trade represents a 27.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 54,628 shares of company stock valued at $4,960,721. 10.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HUT has been the topic of a number of recent analyst reports. Northland Securities set a $120.00 price objective on Hut 8 in a research report on Thursday, May 7th. Roth Mkm reiterated a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a research report on Tuesday, January 27th. Cantor Fitzgerald increased their price objective on Hut 8 from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. B. Riley Financial increased their price objective on Hut 8 from $76.00 to $130.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Piper Sandler increased their price objective on Hut 8 from $93.00 to $127.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Seventeen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $107.72.

Hut 8 Price Performance

Shares of NASDAQ:HUT opened at $105.90 on Monday. The stock’s 50-day moving average price is $71.87 and its 200-day moving average price is $57.46. Hut 8 Corp. has a 12-month low of $14.74 and a 12-month high of $112.26. The stock has a market capitalization of $11.92 billion, a P/E ratio of -35.30 and a beta of 4.48. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $78.53 million. On average, equities analysts anticipate that Hut 8 Corp. will post -1.29 earnings per share for the current year.

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.