1,252,562 Shares in Hut 8 Corp. $HUT Bought by Avala Global LP

Key Points

• Avala Global LP acquired 1,252,562 Hut 8 shares worth approximately $144.6 million, making HUT its fourth-largest holding and representing about 1.02% of Hut 8.
• Hut 8 reported a quarterly loss of $1.27 per share and revenue of $72.66 million, missing analyst expectations for both earnings and sales.
• Analysts remain broadly positive, with a consensus “Buy” rating and a $144.89 price target, although the stock carries significant volatility and recently traded at $85.

Avala Global LP bought a new stake in Hut 8 Corp. (NASDAQ:HUT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,252,562 shares of the company's stock, valued at approximately $144,602,000. Hut 8 comprises about 5.3% of Avala Global LP's portfolio, making the stock its 4th biggest holding. Avala Global LP owned 1.02% of Hut 8 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Arlington Trust Co LLC grew its holdings in shares of Hut 8 by 175.0% during the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company's stock worth $32,000 after purchasing an additional 175 shares during the period. Imprint Wealth LLC acquired a new stake in Hut 8 during the 4th quarter worth approximately $38,000. Russell Investments Group Ltd. raised its holdings in Hut 8 by 235.8% in the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company's stock valued at $46,000 after buying an additional 1,719 shares during the period. Harbor Investment Advisory LLC purchased a new position in Hut 8 in the first quarter valued at approximately $47,000. Finally, Activest Wealth Management acquired a new position in Hut 8 during the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 31.75% of the company's stock.

Hut 8 Stock Performance

NASDAQ:HUT opened at $85.00 on Thursday. The firm has a 50-day moving average of $100.52 and a two-hundred day moving average of $84.83. The company has a debt-to-equity ratio of 4.22, a current ratio of 19.35 and a quick ratio of 19.35. The stock has a market cap of $10.48 billion, a P/E ratio of -15.60 and a beta of 4.64. Hut 8 Corp. has a 1-year low of $24.20 and a 1-year high of $140.80.

Hut 8 (NASDAQ:HUT - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.72). Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%.The business had revenue of $72.66 million for the quarter, compared to analysts' expectations of $79.37 million. During the same period in the previous year, the firm posted $1.18 earnings per share. On average, research analysts expect that Hut 8 Corp. will post -2.85 earnings per share for the current fiscal year.

Insider Transactions at Hut 8

In related news, insider Victor Semah sold 10,000 shares of the company's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following the sale, the insider directly owned 31,378 shares of the company's stock, valued at $3,922,250. This represents a 24.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Sean Joseph Glennan sold 6,445 shares of the stock in a transaction on Monday, August 24th. The shares were sold at an average price of $78.76, for a total transaction of $507,608.20. Following the transaction, the chief financial officer owned 17,978 shares in the company, valued at $1,415,947.28. This trade represents a 26.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 54,664 shares of company stock valued at $6,212,160. 10.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Benchmark boosted their price objective on shares of Hut 8 from $165.00 to $195.00 and gave the stock a "buy" rating in a research note on Wednesday, July 22nd. Loop Capital set a $226.00 target price on shares of Hut 8 in a research note on Monday, June 22nd. Maxim Group upgraded shares of Hut 8 to a "strong-buy" rating in a report on Wednesday, August 5th. Piper Sandler upped their price target on shares of Hut 8 from $127.00 to $143.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded Hut 8 from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $144.89.

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.

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