Main Street Research LLC Makes New Investment in Hut 8 Corp. $HUT

Main Street Research LLC bought a new position in Hut 8 Corp. (NASDAQ:HUT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,986 shares of the company’s stock, valued at approximately $413,000.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in shares of Hut 8 during the 4th quarter valued at about $30,000. Activest Wealth Management acquired a new position in shares of Hut 8 during the 4th quarter valued at about $49,000. Danske Bank A S acquired a new position in shares of Hut 8 during the 4th quarter valued at about $51,000. CWM LLC increased its holdings in shares of Hut 8 by 37.4% during the 4th quarter. CWM LLC now owns 1,106 shares of the company’s stock valued at $51,000 after acquiring an additional 301 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Hut 8 by 1,578.3% during the 4th quarter. Farther Finance Advisors LLC now owns 1,393 shares of the company’s stock valued at $64,000 after acquiring an additional 1,310 shares during the last quarter. 31.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on HUT shares. Needham & Company LLC increased their price objective on Hut 8 from $88.00 to $128.00 and gave the company a “buy” rating in a report on Thursday, May 7th. BTIG Research increased their price objective on Hut 8 from $90.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Weiss Ratings lowered Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Piper Sandler increased their price objective on Hut 8 from $93.00 to $127.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Finally, Northland Securities set a $120.00 price objective on Hut 8 in a report on Thursday, May 7th. Seventeen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.72.

Hut 8 Stock Performance

HUT opened at $105.90 on Monday. The firm has a market capitalization of $11.92 billion, a P/E ratio of -35.30 and a beta of 4.48. The stock’s 50 day moving average price is $71.87 and its two-hundred day moving average price is $57.46. 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 12-month low of $14.74 and a 12-month high of $112.26.

Hut 8 (NASDAQ:HUT) last released its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). The business had revenue of $139.31 million during the quarter, compared to analyst estimates of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. On average, equities analysts forecast that Hut 8 Corp. will post -1.29 earnings per share for the current year.

Insider Buying and Selling at Hut 8

In other Hut 8 news, insider Victor Semah sold 10,518 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $76.83, for a total value of $808,097.94. Following the sale, the insider owned 41,378 shares of the company’s stock, valued at $3,179,071.74. This trade represents a 20.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Joseph Glennan sold 4,625 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $226,856.25. Following the completion of the sale, the chief financial officer directly owned 12,068 shares in the company, valued at $591,935.40. This trade represents a 27.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,628 shares of company stock valued at $4,960,721 in the last 90 days. 10.40% of the stock is currently owned by insiders.

About Hut 8

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.