Hut 8 Corp. $HUT Shares Acquired by Delta Global Management LP

by · The Markets Daily

Delta Global Management LP lifted its position in shares of Hut 8 Corp. (NASDAQ:HUT – Free Report) by 66.9% during the fourth quarter, Holdings Channel reports. The firm owned 253,958 shares of the company’s stock after acquiring an additional 101,804 shares during the quarter. Delta Global Management LP’s holdings in Hut 8 were worth $11,667,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in shares of Hut 8 during the fourth quarter worth about $30,000. Activest Wealth Management acquired a new stake in shares of Hut 8 during the fourth quarter worth about $49,000. Danske Bank A S acquired a new stake in shares of Hut 8 during the fourth quarter worth about $51,000. CWM LLC increased its position in shares of Hut 8 by 37.4% during the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after purchasing an additional 301 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Hut 8 during the fourth quarter worth about $52,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

Insiders Place Their Bets

In other Hut 8 news, Director Joseph Flinn sold 7,719 shares of Hut 8 stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $117.91, for a total value of $910,147.29. Following the sale, the director owned 10,519 shares of the company’s stock, valued at approximately $1,240,295.29. The trade was a 42.32% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Rick Rickertsen sold 17,491 shares of Hut 8 stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total value of $1,924,010.00. Following the completion of the sale, the director directly owned 17,491 shares in the company, valued at $1,924,010. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 102,724 shares of company stock worth $10,934,340 over the last quarter. 10.40% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on HUT shares. HC Wainwright reiterated a “buy” rating and set a $80.00 target price on shares of Hut 8 in a research report on Thursday, February 26th. Weiss Ratings lowered Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Wall Street Zen lowered Hut 8 from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Rosenblatt Securities reissued a “buy” rating and set a $124.00 price target on shares of Hut 8 in a report on Thursday, June 11th. Finally, Needham & Company LLC raised their price target on Hut 8 from $88.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Seventeen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $107.72.

Check Out Our Latest Research Report on HUT

Hut 8 Stock Performance

NASDAQ HUT opened at $120.18 on Tuesday. 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 business’s 50-day moving average price is $94.34 and its 200 day moving average price is $66.37. The firm has a market cap of $13.53 billion, a P/E ratio of -40.06 and a beta of 4.61.

Hut 8 (NASDAQ:HUT – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) earnings per share 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 business had revenue of $139.31 million during the quarter, compared to analysts’ expectations of $78.53 million. On average, equities research analysts expect that Hut 8 Corp. will post -1.29 earnings per share for the current year.

Hut 8 Profile

(Free Report)

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.

See Also

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