Algert Global LLC Has $13.80 Million Position in Hut 8 Corp. $HUT

Key Points

• Algert Global increased its Hut 8 stake by 59.9% in the second quarter, owning 119,540 shares valued at approximately $13.8 million. Institutional investors and hedge funds collectively own 31.75% of HUT.
• Hut 8 reported weaker-than-expected quarterly results, with an EPS loss of $1.27 versus the $0.55 expected and revenue of $72.66 million below the $79.37 million estimate.
• Despite the earnings miss, analyst sentiment remains positive: HUT has an average “Buy” rating and a $144.89 price target, compared with a recent share price of $85.50. Shares remain highly volatile, with a beta of 4.64.

Algert Global LLC lifted its position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 59.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 119,540 shares of the company's stock after acquiring an additional 44,770 shares during the quarter. Algert Global LLC owned approximately 0.10% of Hut 8 worth $13,800,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. BlackRock Inc. bought a new stake in shares of Hut 8 in the second quarter valued at about $1,093,294,000. Northwestern Mutual Wealth Management Co. increased its holdings in Hut 8 by 4,669,387.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company's stock worth $186,629,000 after buying an additional 4,062,367 shares during the last quarter. SRS Investment Management LLC acquired a new position in shares of Hut 8 during the 4th quarter worth about $131,838,000. Sachem Head Capital Management LP bought a new stake in Hut 8 in the fourth quarter valued at approximately $129,780,000. Finally, Ameriprise Financial Inc. lifted its holdings in Hut 8 by 1,043.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company's stock valued at $46,255,000 after purchasing an additional 2,269,237 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Stock Performance

Shares of HUT opened at $85.50 on Wednesday. The company has a debt-to-equity ratio of 4.22, a current ratio of 19.35 and a quick ratio of 19.35. Hut 8 Corp. has a one year low of $23.03 and a one year high of $140.80. The stock has a 50-day moving average of $101.20 and a 200-day moving average of $84.54. The company has a market cap of $10.54 billion, a PE ratio of -15.69 and a beta of 4.64.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HUT. Compass Point set a $195.00 price objective on Hut 8 in a report on Wednesday, July 22nd. 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 report on Thursday, August 6th. Freedom Capital raised Hut 8 to a "strong-buy" rating in a research note on Tuesday, August 18th. Rosenblatt Securities reiterated a "buy" rating and set a $124.00 price target on shares of Hut 8 in a report on Wednesday, August 5th. Finally, Loop Capital set a $226.00 price objective on shares of Hut 8 in a report on Monday, June 22nd. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $144.89.

Insider Buying and Selling

In other Hut 8 news, CFO Sean Joseph Glennan sold 6,445 shares of Hut 8 stock in a transaction that occurred 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 of the company's stock, valued at $1,415,947.28. This trade represents a 26.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joseph Flinn sold 7,719 shares of Hut 8 stock in a transaction on Friday, June 12th. The stock was sold at an average price of $117.91, for a total value of $910,147.29. Following the sale, the director owned 10,519 shares in the company, valued at $1,240,295.29. The trade was a 42.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 54,664 shares of company stock worth $6,212,160. 10.40% of the stock is owned by corporate insiders.

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.

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