Zweig DiMenna Associates LLC Reduces Position in Hut 8 Corp. $HUT

Zweig DiMenna Associates LLC decreased its stake in shares of Hut 8 Corp. (NASDAQ:HUT) by 78.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 145,647 shares of the company’s stock after selling 527,103 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Hut 8 were worth $6,832,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HUT. Northwestern Mutual Wealth Management Co. raised its stake in Hut 8 by 4,669,387.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after acquiring an additional 4,062,367 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in Hut 8 during the 4th quarter valued at about $1,153,000. GeoSphere Capital Management LLC increased its holdings in shares of Hut 8 by 64.3% in the fourth quarter. GeoSphere Capital Management LLC now owns 115,000 shares of the company’s stock valued at $5,283,000 after purchasing an additional 45,000 shares during the period. Steadview Capital Management LLC increased its holdings in shares of Hut 8 by 1,425.3% in the fourth quarter. Steadview Capital Management LLC now owns 431,655 shares of the company’s stock valued at $19,830,000 after purchasing an additional 403,355 shares during the period. Finally, Value Aligned Research Advisors LLC raised its stake in shares of Hut 8 by 110.2% in the third quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company’s stock worth $67,845,000 after purchasing an additional 1,021,955 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Amy Marie Wilkinson sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the sale, the director owned 262,136 shares of the company’s stock, valued at $26,418,066.08. This trade represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rick Rickertsen sold 17,491 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the completion of the transaction, the director owned 17,491 shares of the company’s stock, valued at approximately $1,924,010. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 112,724 shares of company stock valued at $12,184,340 in the last ninety days. Insiders own 10.40% of the company’s stock.

Hut 8 Stock Performance

NASDAQ HUT opened at $98.33 on Wednesday. The firm has a market capitalization of $11.07 billion, a P/E ratio of -32.78 and a beta of 4.62. The stock has a 50-day simple moving average of $111.68 and a two-hundred day simple moving average of $76.40. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. Hut 8 Corp. has a fifty-two week low of $18.68 and a fifty-two week high of $140.80.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Arete Research assumed coverage on Hut 8 in a report on Monday, March 23rd. They set a “buy” rating and a $136.00 target price for the company. Loop Capital set a $226.00 price target on shares of Hut 8 in a report on Monday, June 22nd. Needham & Company LLC raised their price target on shares of Hut 8 from $88.00 to $128.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Northland Securities set a $120.00 price objective on shares of Hut 8 in a research note on Thursday, May 7th. Finally, Citizens Jmp upped their price objective on shares of Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a report on Thursday, May 7th. Seventeen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $120.37.

Hut 8 Company 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.