CenterBook Partners LP Purchases Shares of 28,617 Hut 8 Corp. $HUT

CenterBook Partners LP acquired a new position in shares of Hut 8 Corp. (NASDAQ:HUT) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 28,617 shares of the company’s stock, valued at approximately $996,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BBR Partners LLC acquired a new stake in shares of Hut 8 during the third quarter worth $560,000. Zweig DiMenna Associates LLC lifted its position in Hut 8 by 256.5% during the third quarter. Zweig DiMenna Associates LLC now owns 707,000 shares of the company’s stock worth $24,611,000 after buying an additional 508,700 shares during the period. Vanguard Group Inc. boosted its stake in Hut 8 by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,728,037 shares of the company’s stock worth $269,013,000 after buying an additional 140,248 shares during the last quarter. Tobam grew its holdings in Hut 8 by 6.1% in the 3rd quarter. Tobam now owns 37,060 shares of the company’s stock valued at $1,290,000 after buying an additional 2,115 shares during the period. Finally, Cibc World Market Inc. purchased a new stake in Hut 8 in the 3rd quarter valued at about $261,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Stock Performance

Shares of HUT stock opened at $53.82 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.72 and a quick ratio of 0.72. The company’s fifty day moving average price is $53.56 and its two-hundred day moving average price is $42.69. The firm has a market capitalization of $5.81 billion, a P/E ratio of -138.00 and a beta of 4.42. Hut 8 Corp. has a 12 month low of $10.04 and a 12 month high of $66.07.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a research report on Tuesday, January 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $65.00 price target on shares of Hut 8 in a report on Thursday, December 18th. Weiss Ratings reissued a “hold (c-)” rating on shares of Hut 8 in a research note on Monday, December 29th. Cantor Fitzgerald increased their target price on Hut 8 from $24.00 to $64.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, Canaccord Genuity Group lifted their target price on Hut 8 from $54.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $64.69.

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.