Opal Wealth Advisors LLC Acquires New Shares in Hut 8 Corp. $HUT

Opal Wealth Advisors LLC bought a new position in shares of Hut 8 Corp. (NASDAQ:HUT) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 10,000 shares of the company’s stock, valued at approximately $348,000.

A number of other institutional investors have also added to or reduced their stakes in HUT. Nisa Investment Advisors LLC raised its holdings in shares of Hut 8 by 116.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,515 shares of the company’s stock valued at $28,000 after purchasing an additional 815 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Hut 8 by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $30,000 after buying an additional 655 shares during the period. Russell Investments Group Ltd. raised its stake in Hut 8 by 235.8% in the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after buying an additional 1,719 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in Hut 8 during the second quarter worth $99,000. Finally, Global Retirement Partners LLC boosted its position in Hut 8 by 152.2% during the 3rd quarter. Global Retirement Partners LLC now owns 3,349 shares of the company’s stock valued at $117,000 after acquiring an additional 2,021 shares in the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on HUT shares. Roth Capital reissued a “buy” rating on shares of Hut 8 in a research report on Tuesday, December 23rd. BTIG Research reiterated a “buy” rating and issued a $55.00 target price on shares of Hut 8 in a report on Wednesday, December 17th. Benchmark restated a “buy” rating on shares of Hut 8 in a report on Wednesday, December 17th. Craig Hallum reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a research report on Thursday, December 18th. Finally, Piper Sandler reissued an “overweight” rating on shares of Hut 8 in a research report on Thursday, December 18th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $56.76.

Hut 8 Trading Up 3.6%

NASDAQ HUT opened at $60.04 on Friday. Hut 8 Corp. has a 12-month low of $10.04 and a 12-month high of $62.68. The company has a fifty day simple moving average of $44.95 and a two-hundred day simple moving average of $35.34. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.14. The stock has a market cap of $6.49 billion, a P/E ratio of -153.95 and a beta of 4.41.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.07) earnings per share 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 analyst estimates of $64.70 million. Hut 8 had a net margin of 115.39% and a return on equity of 8.06%. On average, analysts forecast that Hut 8 Corp. will post -0.53 earnings per share for the current year.

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.