Connor Clark & Lunn Investment Management Ltd. Takes $56.36 Million Position in Hut 8 Corp. $HUT

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 488,428 shares of the company's stock, valued at approximately $56,364,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.40% of Hut 8 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Two Seas Capital LP acquired a new position in Hut 8 during the 2nd quarter worth approximately $18,250,000. Quantbot Technologies LP bought a new position in Hut 8 in the second quarter worth approximately $135,000. Landscape Capital Management L.L.C. acquired a new stake in Hut 8 in the second quarter valued at approximately $2,680,000. Allworth Financial LP acquired a new stake in Hut 8 in the second quarter valued at approximately $157,000. Finally, Vise Technologies Inc. bought a new stake in shares of Hut 8 during the second quarter valued at approximately $208,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Key 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

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on HUT shares. Loop Capital set a $226.00 target price on Hut 8 in a report on Monday, June 22nd. Keefe, Bruyette & Woods decreased their price target on shares of Hut 8 from $157.00 to $154.00 and set an "outperform" rating for the company in a research note on Thursday, August 6th. Citizens Jmp upped their price objective on shares of Hut 8 from $100.00 to $140.00 and gave the stock a "market outperform" rating in a report on Thursday, May 7th. Benchmark raised their price objective on shares of Hut 8 from $165.00 to $195.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Finally, Maxim Group raised shares of Hut 8 to a "strong-buy" rating in a research note on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Hut 8 presently has a consensus rating of "Buy" and a consensus price target of $144.89.

Insider Activity

In other Hut 8 news, Director Joseph Flinn sold 30,500 shares of the company's stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $116.21, for a total value of $3,544,405.00. Following the completion of the sale, the director directly owned 18,238 shares of the company's stock, valued at approximately $2,119,437.98. This represents a 62.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the insider owned 31,378 shares of the company's stock, valued at approximately $3,922,250. This trade represents a 24.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 48,219 shares of company stock worth $5,704,552. 10.40% of the stock is owned by corporate insiders.

Hut 8 Price Performance

HUT stock opened at $80.86 on Monday. The firm has a market capitalization of $9.97 billion, a PE ratio of -14.84 and a beta of 4.64. The company has a quick ratio of 19.35, a current ratio of 19.35 and a debt-to-equity ratio of 4.22. Hut 8 Corp. has a twelve month low of $21.00 and a twelve month high of $140.80. The stock's 50 day moving average is $102.73 and its 200-day moving average is $84.18.

Hut 8 (NASDAQ:HUT - Get Free Report) last announced 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 company had revenue of $72.66 million for the quarter, compared to the consensus estimate 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 quarter last year, the company posted $1.18 EPS. Sell-side analysts expect that Hut 8 Corp. will post -2.85 EPS for the current fiscal year.

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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