CloudAlpha Capital Management Limited Hong Kong Invests $4.47 Million in Hut 8 Corp. $HUT

Key Points

• CloudAlpha Capital Management disclosed a new fourth-quarter stake in Hut 8 Corp., buying 97,387 shares valued at about $4.47 million, or roughly 0.09% of the company.
• Hut 8 shares were down 3.0% in the session, even though the stock has a wide 52-week range and a strong market cap of about $10.51 billion.
• Despite a recent earnings miss with EPS of -$1.98, analysts remain broadly bullish: 17 rate the stock a buy, with a consensus Moderate Buy and an average price target of $107.72.

CloudAlpha Capital Management Limited Hong Kong acquired a new stake in Hut 8 Corp. (NASDAQ:HUT - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 97,387 shares of the company's stock, valued at approximately $4,474,000. CloudAlpha Capital Management Limited Hong Kong owned about 0.09% of Hut 8 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HUT. Nisa Investment Advisors LLC lifted its holdings in Hut 8 by 1.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company's stock worth $734,000 after buying an additional 254 shares during the last quarter. CWM LLC increased its holdings in shares of Hut 8 by 37.4% in the 4th quarter. CWM LLC now owns 1,106 shares of the company's stock valued at $51,000 after acquiring an additional 301 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Hut 8 by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company's stock valued at $331,000 after acquiring an additional 321 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Hut 8 by 1.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company's stock worth $996,000 after purchasing an additional 362 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in Hut 8 by 1.9% during the third quarter. Arizona State Retirement System now owns 29,290 shares of the company's stock worth $1,020,000 after purchasing an additional 542 shares during the last quarter. 31.75% of the stock is owned by institutional investors.

Hut 8 Trading Down 3.0%

Shares of NASDAQ:HUT opened at $93.31 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. The company's 50-day moving average price is $68.70 and its 200 day moving average price is $56.38. The company has a market cap of $10.51 billion, a PE ratio of -31.10 and a beta of 4.48. Hut 8 Corp. has a fifty-two week low of $14.74 and a fifty-two week high of $112.26.

Hut 8 (NASDAQ:HUT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($1.65). Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%.The business had revenue of $139.31 million for the quarter, compared to analyst estimates of $78.53 million. Sell-side analysts anticipate that Hut 8 Corp. will post -2.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wall Street Zen lowered shares of Hut 8 from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. Compass Point set a $130.00 price target on shares of Hut 8 in a report on Wednesday, May 13th. Jefferies Financial Group initiated coverage on shares of Hut 8 in a research note on Thursday, May 14th. They set a "buy" rating and a $156.00 price objective on the stock. Northland Securities set a $120.00 target price on shares of Hut 8 in a report on Thursday, May 7th. Finally, HC Wainwright restated a "buy" rating and issued a $80.00 target price on shares of Hut 8 in a research note on Thursday, February 26th. Seventeen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $107.72.

Insiders Place Their Bets

In related news, Director Rick Rickertsen sold 17,491 shares of Hut 8 stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the sale, the director directly owned 17,491 shares in the company, valued at $1,924,010. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victor Semah sold 10,518 shares of the company's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $76.83, for a total transaction of $808,097.94. Following the completion of the sale, the insider directly owned 41,378 shares of the company's stock, valued at $3,179,071.74. The trade was a 20.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 54,628 shares of company stock worth $4,960,721. 10.40% of the stock is owned by company insiders.

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.

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.