Allspring Global Investments Holdings LLC Buys New Position in Hut 8 Corp. $HUT

Allspring Global Investments Holdings LLC bought a new stake in shares of Hut 8 Corp. (NASDAQ:HUT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,375 shares of the company’s stock, valued at approximately $385,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HUT. GAMMA Investing LLC purchased a new position in shares of Hut 8 in the 4th quarter valued at about $30,000. Russell Investments Group Ltd. lifted its stake in Hut 8 by 235.8% during the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after purchasing an additional 1,719 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Hut 8 by 67.2% during the third quarter. NewEdge Advisors LLC now owns 2,257 shares of the company’s stock worth $79,000 after purchasing an additional 907 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Hut 8 by 152.2% during the third quarter. Global Retirement Partners LLC now owns 3,349 shares of the company’s stock worth $117,000 after purchasing an additional 2,021 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in Hut 8 by 23.9% during the third quarter. IFP Advisors Inc now owns 4,764 shares of the company’s stock worth $166,000 after purchasing an additional 919 shares during the last quarter. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Price Performance

Shares of NASDAQ HUT opened at $66.04 on Monday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.12. Hut 8 Corp. has a twelve month low of $10.61 and a twelve month high of $68.66. The stock has a 50 day moving average of $52.35 and a two-hundred day moving average of $48.94. The stock has a market cap of $7.32 billion, a P/E ratio of -28.46 and a beta of 4.38.

Insider Buying and Selling

In other Hut 8 news, CFO Sean Joseph Glennan sold 4,625 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The stock was 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 owned 12,068 shares in the company, valued at approximately $591,935.40. The trade was a 27.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Victor Semah sold 5,498 shares of the business’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 $269,676.90. Following the completion of the sale, the insider owned 24,796 shares of the company’s stock, valued at approximately $1,216,243.80. This represents a 18.15% decrease in their position. The SEC filing for this sale provides additional information. 11.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HUT. Rosenblatt Securities restated a “buy” rating and set a $65.00 target price on shares of Hut 8 in a research note on Thursday, February 26th. Needham & Company LLC boosted their target price on Hut 8 from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Weiss Ratings cut Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. B. Riley Financial boosted their target price on Hut 8 from $61.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. Finally, Piper Sandler restated an “overweight” rating on shares of Hut 8 in a research note on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Hut 8 currently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

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.