Intech Investment Management LLC Reduces Position in Hut 8 Corp. $HUT

Intech Investment Management LLC decreased its holdings in shares of Hut 8 Corp. (NASDAQ:HUT) by 58.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,138 shares of the company’s stock after selling 38,819 shares during the quarter. Intech Investment Management LLC’s holdings in Hut 8 were worth $979,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of HUT. US Bancorp DE increased its stake in Hut 8 by 41.8% in the third quarter. US Bancorp DE now owns 22,941 shares of the company’s stock worth $799,000 after purchasing an additional 6,765 shares during the period. CenterBook Partners LP bought a new position in shares of Hut 8 in the third quarter worth about $996,000. BBR Partners LLC bought a new position in shares of Hut 8 in the third quarter worth about $560,000. Zweig DiMenna Associates LLC increased its stake in Hut 8 by 256.5% in the 3rd 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. Finally, Vanguard Group Inc. increased 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 period. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Hut 8 Stock Down 8.4%

Shares of Hut 8 stock opened at $47.07 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.12. The company has a market cap of $5.22 billion, a P/E ratio of -20.29 and a beta of 4.42. The firm’s 50 day moving average price is $55.09 and its 200-day moving average price is $45.18. Hut 8 Corp. has a 52-week low of $10.04 and a 52-week high of $66.07.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings lowered Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. B. Riley Financial raised their price objective on Hut 8 from $61.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Needham & Company LLC upped their target price on Hut 8 from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Craig Hallum reissued a “buy” rating and set a $80.00 price target on shares of Hut 8 in a research report on Thursday, December 18th. Finally, Roth Mkm reissued a “buy” rating and set a $80.00 price target on shares of Hut 8 in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Hut 8 currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.56.

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.