Hut 8 Corp. $HUT Position Increased by California State Teachers Retirement System

Key Points

• Institutional interest increased: California State Teachers Retirement System raised its Hut 8 position by 21.7% to 114,909 shares, while other funds also expanded or initiated holdings. Institutional investors and hedge funds own 31.75% of the stock.
• Analysts remain bullish: Hut 8 has a consensus “Buy” rating and an average price target of $139.15, with Morgan Stanley issuing a $263 target and an “overweight” rating.
• Earnings fell short of expectations: Hut 8 reported a quarterly loss of $1.27 per share versus the expected $0.55 loss, while revenue of $72.66 million missed the $79.37 million consensus. The stock opened at $90.65, down 2.3%, and insiders have sold more than 102,000 shares over the past three months.

California State Teachers Retirement System lifted its holdings in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 21.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 114,909 shares of the company's stock after buying an additional 20,469 shares during the quarter. California State Teachers Retirement System owned approximately 0.10% of Hut 8 worth $5,390,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of HUT. Northwestern Mutual Wealth Management Co. lifted its position in Hut 8 by 4,669,387.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company's stock valued at $186,629,000 after purchasing an additional 4,062,367 shares during the last quarter. Handelsbanken Fonder AB bought a new position in Hut 8 in the 4th quarter worth about $1,153,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Hut 8 in the 1st quarter worth about $4,358,000. Steadview Capital Management LLC increased its stake in shares of Hut 8 by 1,425.3% in the fourth quarter. Steadview Capital Management LLC now owns 431,655 shares of the company's stock valued at $19,830,000 after purchasing an additional 403,355 shares during the period. Finally, GeoSphere Capital Management LLC raised its holdings in shares of Hut 8 by 64.3% during the fourth quarter. GeoSphere Capital Management LLC now owns 115,000 shares of the company's stock valued at $5,283,000 after buying an additional 45,000 shares during the last quarter. 31.75% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hut 8

In other news, Director Rick Rickertsen sold 17,491 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the transaction, the director owned 17,491 shares of the company's stock, valued at approximately $1,924,010. This represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Flinn sold 7,719 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $117.91, for a total value of $910,147.29. Following the completion of the transaction, the director directly 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. Insiders have sold 102,206 shares of company stock valued at $11,376,242 over the last three months. 10.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HUT. Needham & Company LLC decreased their price target on Hut 8 from $145.00 to $138.00 and set a "buy" rating for the company in a research note on Wednesday. B. Riley Financial upped their price target on shares of Hut 8 from $130.00 to $163.00 and gave the stock a "buy" rating in a research note on Monday. Northland Securities set a $120.00 target price on Hut 8 in a report on Thursday, May 7th. Morgan Stanley began coverage on shares of Hut 8 in a report on Thursday, July 23rd. They set an "overweight" rating and a $263.00 target price for the company. Finally, Citigroup restated an "outperform" rating on shares of Hut 8 in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $139.15.

Hut 8 Trading Down 2.3%

Hut 8 stock opened at $90.65 on Friday. The company's fifty day simple moving average is $110.57 and its 200-day simple moving average is $82.09. The company has a quick ratio of 0.86, a current ratio of 19.35 and a debt-to-equity ratio of 4.22. Hut 8 Corp. has a 12 month low of $18.68 and a 12 month high of $140.80. The stock has a market cap of $11.17 billion, a P/E ratio of -16.63 and a beta of 4.64.

Hut 8 (NASDAQ:HUT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($1.27) earnings per share for the quarter, missing analysts' consensus estimates 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 business earned $1.18 earnings per share. As a group, sell-side analysts forecast that Hut 8 Corp. will post -2.16 EPS for the current fiscal year.

More Hut 8 News

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

• Positive Sentiment: Analyst upgrades and bullish targets: Maxim Group upgraded Hut 8 to “strong buy.” Keefe, Bruyette & Woods maintained an “outperform” rating and set a $154 price target, despite trimming it from $157. These targets imply substantial potential upside if the AI infrastructure strategy succeeds. Benzinga analyst rating report
• Positive Sentiment: AI infrastructure pivot is attracting investor interest: Hut 8 is repositioning itself as a power-focused AI data-center platform, seeking longer-term contracted cash flows rather than relying primarily on bitcoin prices. The company has also outlined an 8.7-gigawatt development pipeline, while its Beacon Point lease is projected to have $9.8 billion of base-term value. Why Hut 8 Is Up After Pivoting Toward AI Data Center Infrastructure Hut 8 outlines 8.7 GW pipeline
• Positive Sentiment: Financing could support expansion: Hut 8 reportedly secured $7.5 billion in non-recourse, investment-grade project financing, potentially enabling large campus construction without equity dilution or additional parent-level debt. Adjusted EBITDA improved and gross margin expanded to 64%, according to one analysis. Hut 8 Q2 2026 analysis
• Neutral Sentiment: Options activity increased: Traders purchased a high volume of HUT call options, signaling speculative bullish positioning, though options activity does not necessarily indicate durable institutional confidence. Hut 8 call options activity
• Negative Sentiment: Earnings missed expectations: Hut 8 reported a quarterly loss of $1.27 per share versus the expected $0.55 loss, while revenue of $72.66 million fell short of the $79.37 million consensus. The company also posted a deeply negative net margin, with bitcoin mark-to-market volatility contributing to the weak GAAP results. The earnings disappointment has driven the recent decline and remains the main near-term risk. Hut 8 stock falls on disappointing earnings

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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