149,800 Shares in Hut 8 Corp. $HUT Purchased by Engle Capital Management L.P.

Key Points

• Engle Capital Management purchased 149,800 Hut 8 shares worth approximately $7.0 million, representing about 0.13% of the company and 2.4% of the firm’s portfolio. Institutional investors collectively own 31.75% of Hut 8.
• Hut 8 reported quarterly revenue of $139.31 million, exceeding estimates, but its loss of $1.98 per share was significantly wider than expected. The stock opened at $104.59 after declining 4.9%, with a 52-week range of $18.68 to $140.80.
• Analyst sentiment remains broadly positive, with 18 Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $133.10. However, insiders sold 112,724 shares worth $12.2 million over the past 90 days.

Engle Capital Management L.P. purchased a new stake in Hut 8 Corp. (NASDAQ:HUT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 149,800 shares of the company's stock, valued at approximately $7,027,000. Hut 8 comprises 2.4% of Engle Capital Management L.P.'s holdings, making the stock its 16th largest position. Engle Capital Management L.P. owned approximately 0.13% of Hut 8 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in shares of Hut 8 during the fourth quarter worth approximately $30,000. Imprint Wealth LLC bought a new position in shares of Hut 8 during the fourth quarter worth approximately $38,000. Russell Investments Group Ltd. increased its stake in shares of 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 period. Harbor Investment Advisory LLC acquired a new stake in Hut 8 during the 1st quarter worth approximately $47,000. Finally, Activest Wealth Management acquired a new stake in Hut 8 during the 4th quarter worth approximately $49,000. 31.75% of the stock is owned by institutional investors.

Hut 8 Trading Down 4.9%

Shares of HUT stock opened at $104.59 on Tuesday. The stock has a market cap of $11.78 billion, a P/E ratio of -34.86 and a beta of 4.62. Hut 8 Corp. has a 1 year low of $18.68 and a 1 year high of $140.80. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The stock has a 50 day simple moving average of $111.76 and a 200 day simple moving average of $79.78.

Hut 8 (NASDAQ:HUT - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate 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, research analysts predict that Hut 8 Corp. will post -2.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Joseph Flinn sold 7,719 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $117.91, for a total value of $910,147.29. Following the completion of the transaction, the director owned 10,519 shares of the company's stock, valued at $1,240,295.29. The trade was a 42.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Victor Semah sold 10,000 shares of the company's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total transaction 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 position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 112,724 shares of company stock valued at $12,184,340. Company insiders own 10.40% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Weiss Ratings lowered Hut 8 from a "sell (d+)" rating to a "sell (d-)" rating in a report on Thursday, May 7th. BTIG Research increased their price objective on Hut 8 from $115.00 to $150.00 and gave the stock a "buy" rating in a research report on Wednesday, June 24th. Citigroup reissued an "outperform" rating on shares of Hut 8 in a report on Tuesday, April 28th. Rosenblatt Securities reissued a "buy" rating and issued a $124.00 target price on shares of Hut 8 in a research report on Tuesday, July 21st. Finally, Cantor Fitzgerald upped their price target on shares of Hut 8 from $68.00 to $80.00 and gave the company an "overweight" rating in a research note on Thursday, April 9th. Eighteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Hut 8 currently has an average rating of "Moderate Buy" and an average price target of $133.10.

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.

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