Harbour Capital Advisors LLC Makes New $828,000 Investment in Hut 8 Corp. $HUT

Harbour Capital Advisors LLC purchased a new stake in shares of Hut 8 Corp. (NASDAQ:HUT) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 18,020 shares of the company’s stock, valued at approximately $828,000.

Several other large investors have also added to or reduced their stakes in HUT. GAMMA Investing LLC bought a new position in shares of Hut 8 in the fourth quarter worth approximately $30,000. Advisors Asset Management Inc. raised its position in shares of Hut 8 by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $30,000 after purchasing an additional 655 shares during the period. NewEdge Advisors LLC lifted its stake in shares of Hut 8 by 67.2% during the 3rd quarter. NewEdge Advisors LLC now owns 2,257 shares of the company’s stock valued at $79,000 after buying an additional 907 shares in the last quarter. Russell Investments Group Ltd. lifted its stake 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 buying an additional 1,719 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in Hut 8 by 152.2% in the 3rd quarter. Global Retirement Partners LLC now owns 3,349 shares of the company’s stock worth $117,000 after buying an additional 2,021 shares during the period. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Stock Performance

Shares of NASDAQ HUT opened at $47.46 on Friday. The company has a market cap of $5.26 billion, a P/E ratio of -20.46 and a beta of 4.42. Hut 8 Corp. has a 52-week low of $10.04 and a 52-week high of $66.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.09 and a current ratio of 1.09. The firm’s fifty day moving average is $54.39 and its two-hundred day moving average is $46.61.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on HUT shares. HC Wainwright reiterated a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research note on Thursday, February 26th. B. Riley Financial boosted their price objective on Hut 8 from $61.00 to $76.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Keefe, Bruyette & Woods upped their price objective on Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, January 27th. Piper Sandler reissued an “overweight” rating on shares of Hut 8 in a research note on Thursday, December 18th. Finally, Roth Mkm reissued a “buy” rating and set a $80.00 target price on shares of Hut 8 in a research note on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.56.

Insider Transactions at Hut 8

In other news, CFO Sean Joseph Glennan sold 4,625 shares of Hut 8 stock in a transaction dated 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 of the company’s stock, valued at approximately $591,935.40. The trade was a 27.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Victor Semah sold 5,498 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $269,676.90. Following the completion of the sale, the insider owned 24,796 shares in the company, valued at $1,216,243.80. This represents a 18.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 11.20% of the company’s stock.

Hut 8 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.