Thames Capital Management LLC Makes New $25.08 Million Investment in Hut 8 Corp. $HUT

Thames Capital Management LLC acquired a new stake in Hut 8 Corp. (NASDAQ:HUT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 720,587 shares of the company’s stock, valued at approximately $25,084,000. Hut 8 accounts for about 3.6% of Thames Capital Management LLC’s investment portfolio, making the stock its 3rd biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rhumbline Advisers raised its holdings in Hut 8 by 19.4% in the 2nd quarter. Rhumbline Advisers now owns 146,356 shares of the company’s stock valued at $2,722,000 after acquiring an additional 23,753 shares during the period. Zweig DiMenna Associates LLC bought a new position in shares of Hut 8 during the second quarter worth approximately $3,688,000. Tobam increased its stake in shares of Hut 8 by 48.9% during the second quarter. Tobam now owns 34,945 shares of the company’s stock worth $650,000 after purchasing an additional 11,482 shares during the period. Paradiem LLC acquired a new stake in Hut 8 during the 3rd quarter worth approximately $1,652,000. Finally, Tactive Advisors LLC boosted its stake in Hut 8 by 42.6% in the 3rd quarter. Tactive Advisors LLC now owns 93,958 shares of the company’s stock valued at $3,271,000 after purchasing an additional 28,082 shares during the period. Institutional investors own 31.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on HUT shares. B. Riley boosted their target price on shares of Hut 8 from $61.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Piper Sandler reissued an “overweight” rating on shares of Hut 8 in a report on Thursday, December 18th. Benchmark reaffirmed a “buy” rating on shares of Hut 8 in a report on Wednesday, December 17th. BTIG Research reiterated a “buy” rating and issued a $55.00 price target on shares of Hut 8 in a research report on Wednesday, December 17th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $65.00 price target on shares of Hut 8 in a research note on Thursday, December 18th. Two equities research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Hut 8 has a consensus rating of “Buy” and a consensus price target of $56.76.

Hut 8 Stock Down 1.9%

NASDAQ HUT opened at $57.28 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.72 and a quick ratio of 0.72. Hut 8 Corp. has a fifty-two week low of $10.04 and a fifty-two week high of $62.91. The stock has a market capitalization of $6.19 billion, a PE ratio of -146.87 and a beta of 4.41. The business has a fifty day moving average price of $45.84 and a two-hundred day moving average price of $36.38.

Hut 8 (NASDAQ:HUT) last released its earnings results on Tuesday, November 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.09. The firm had revenue of $80.72 million for the quarter, compared to analysts’ expectations of $64.70 million. Hut 8 had a return on equity of 8.06% and a net margin of 115.39%. Equities analysts expect that Hut 8 Corp. will post -0.53 earnings per share for the current fiscal 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.