28,300 Shares in Hut 8 Corp. $HUT Bought by Steadview Capital Management LLC

Steadview Capital Management LLC bought a new position in Hut 8 Corp. (NASDAQ:HUT) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 28,300 shares of the company’s stock, valued at approximately $985,000. Hut 8 accounts for about 0.1% of Steadview Capital Management LLC’s holdings, making the stock its 11th largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HUT. Advisors Asset Management Inc. boosted 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 acquiring an additional 655 shares during the period. Main Management ETF Advisors LLC increased its holdings in Hut 8 by 1.7% in the 2nd quarter. Main Management ETF Advisors LLC now owns 44,713 shares of the company’s stock valued at $832,000 after buying an additional 732 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Hut 8 by 1.1% during the 2nd quarter. Intech Investment Management LLC now owns 66,957 shares of the company’s stock worth $1,245,000 after acquiring an additional 734 shares during the period. Nisa Investment Advisors LLC lifted its holdings in shares of Hut 8 by 116.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,515 shares of the company’s stock worth $28,000 after acquiring an additional 815 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake in Hut 8 by 13.6% in the second quarter. Ameritas Investment Partners Inc. now owns 9,625 shares of the company’s stock valued at $179,000 after acquiring an additional 1,150 shares during the period. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Piper Sandler reiterated an “overweight” rating on shares of Hut 8 in a research note on Thursday, December 18th. Canaccord Genuity Group boosted their price target on shares of Hut 8 from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, December 18th. Craig Hallum restated a “buy” rating and set a $80.00 price target on shares of Hut 8 in a research report on Thursday, December 18th. Needham & Company LLC reissued a “buy” rating and issued a $60.00 price objective on shares of Hut 8 in a research note on Friday, January 16th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Hut 8 from $30.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, December 19th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued 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 an average target price of $56.76.

Hut 8 Price Performance

NASDAQ:HUT opened at $55.12 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of -141.33 and a beta of 4.41. Hut 8 Corp. has a 12-month low of $10.04 and a 12-month high of $62.91. The stock’s 50 day moving average price is $47.41 and its two-hundred day moving average price is $37.69.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.09. Hut 8 had a net margin of 115.39% and a return on equity of 8.06%. The business had revenue of $80.72 million during the quarter, compared to analysts’ expectations of $64.70 million. On average, analysts anticipate 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.