BlackRock Inc. Invests $1.09 Billion in Hut 8 Corp. $HUT

BlackRock Inc. purchased a new stake in Hut 8 Corp. (NASDAQ:HUT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,470,255 shares of the company's stock, valued at approximately $1,093,294,000. BlackRock Inc. owned about 7.68% of Hut 8 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Arlington Trust Co LLC grew its holdings in shares of Hut 8 by 175.0% in the second quarter. Arlington Trust Co LLC now owns 275 shares of the company's stock valued at $32,000 after purchasing an additional 175 shares during the period. CoreCap Advisors LLC boosted its holdings in Hut 8 by 42.1% in the 2nd quarter. CoreCap Advisors LLC now owns 540 shares of the company's stock valued at $62,000 after purchasing an additional 160 shares during the last quarter. Imprint Wealth LLC purchased a new stake in shares of Hut 8 in the 4th quarter valued at approximately $38,000. Harbor Investment Advisory LLC purchased a new stake in shares of Hut 8 in the 1st quarter valued at approximately $47,000. Finally, GAMMA Investing LLC increased its holdings in shares of Hut 8 by 35.0% during the 2nd quarter. GAMMA Investing LLC now owns 1,057 shares of the company's stock worth $122,000 after buying an additional 274 shares during the last quarter. Hedge funds and other institutional investors own 31.75% of the company's stock.

Hut 8 Trading Down 8.8%

HUT opened at $80.86 on Friday. Hut 8 Corp. has a 12 month low of $21.00 and a 12 month high of $140.80. The stock has a market capitalization of $9.97 billion, a price-to-earnings ratio of -14.84 and a beta of 4.64. 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 business has a fifty day moving average price of $102.73 and a 200 day moving average price of $83.98.

Hut 8 (NASDAQ:HUT - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $72.66 million for the quarter, compared to analysts' expectations of $79.37 million. Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%.During the same period last year, the firm posted $1.18 earnings per share. Sell-side analysts expect that Hut 8 Corp. will post -2.85 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Hut 8 news, insider Victor Semah sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 31,378 shares in the company, valued at $3,922,250. This represents a 24.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Flinn sold 30,500 shares of the company's stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the completion of the transaction, the director owned 18,238 shares of the company's stock, valued at $2,119,437.98. This represents a 62.58% decrease in their position. 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. Insiders sold 48,219 shares of company stock valued at $5,704,552 over the last ninety days. 10.40% of the stock is currently owned by corporate insiders.

More Hut 8 News

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Analyst upgrade: Freedom Capital upgraded Hut 8 to “strong-buy,” reinforcing the bullish view among some analysts. Zacks.com
• Positive Sentiment: Brokerage support: Hut 8 continues to carry a consensus “Buy” recommendation, which may provide support for the stock following its recent rally. Hut 8 receives consensus Buy recommendation
• Positive Sentiment: AI infrastructure opportunity: Hut 8 was cited as having a reported $19.6 billion Beacon Point backlog. The selling in Hut 8, TeraWulf and IREN was characterized as profit-taking and position unwinding after substantial 2026 gains, rather than evidence of deteriorating contracts or project economics. What is pressuring AI miner stocks
• Neutral Sentiment: Cryptocurrency backdrop: Bitcoin recently rose above $70,000 after President Trump backed the Clarity Act and the Treasury increased buybacks. The rally initially lifted crypto-related equities, but it has not prevented subsequent sector-wide profit-taking. Bitcoin and crypto shares climb after Clarity Act push
• Negative Sentiment: Legal overhang: A federal court approved notice of a proposed class-action settlement involving purchasers of Hut 8 securities. The announcement does not provide settlement terms, but the litigation may remain an investor concern until its financial and procedural implications are clear. Proposed Hut 8 class-action settlement

Analyst Ratings Changes

Several research firms have recently commented on HUT. Freedom Capital raised shares of Hut 8 to a "strong-buy" rating in a research report on Tuesday. Benchmark raised their target price on 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 Hut 8 in a research report on Monday, June 22nd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $124.00 price target on shares of Hut 8 in a research note on Wednesday, August 5th. Finally, Citigroup reiterated an "outperform" rating on shares of Hut 8 in a report on Tuesday, April 28th. Two equities research 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. According to MarketBeat.com, Hut 8 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source