Hut 8 Corp. $HUT Shares Acquired by Azora Capital LP

Key Points

• Azora Capital LP increased its Hut 8 position by 181.2% in the fourth quarter, buying 444,949 additional shares and bringing its total to 690,492 shares worth about $31.7 million.
• Several other institutional investors also added to their holdings, and institutions and hedge funds now own 31.75% of Hut 8’s stock.
• Insiders have been selling shares recently, including directors Amy Marie Wilkinson and Joseph Flinn, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $107.72.

Azora Capital LP grew its holdings in Hut 8 Corp. (NASDAQ:HUT - Free Report) by 181.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 690,492 shares of the company's stock after acquiring an additional 444,949 shares during the period. Hut 8 comprises approximately 2.0% of Azora Capital LP's portfolio, making the stock its 18th largest position. Azora Capital LP owned 0.64% of Hut 8 worth $31,721,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Nisa Investment Advisors LLC grew its stake in shares of Hut 8 by 1.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company's stock worth $734,000 after acquiring an additional 254 shares in the last quarter. CWM LLC grew its stake in shares of Hut 8 by 37.4% in the fourth quarter. CWM LLC now owns 1,106 shares of the company's stock worth $51,000 after acquiring an additional 301 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Hut 8 by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company's stock worth $331,000 after acquiring an additional 321 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Hut 8 by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company's stock worth $996,000 after acquiring an additional 362 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Hut 8 by 4.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company's stock worth $413,000 after acquiring an additional 388 shares in the last quarter. Institutional investors and hedge funds own 31.75% of the company's stock.

Insider Activity at Hut 8

In other news, Director Amy Marie Wilkinson sold 20,000 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $100.78, for a total value of $2,015,600.00. Following the completion of the sale, the director directly owned 262,136 shares of the company's stock, valued at approximately $26,418,066.08. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Flinn sold 7,719 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $117.91, for a total transaction of $910,147.29. Following the completion of the sale, the director directly owned 10,519 shares of the company's stock, valued at $1,240,295.29. The trade was a 42.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 102,724 shares of company stock valued at $10,934,340 in the last ninety days. 10.40% of the stock is currently owned by insiders.

Hut 8 Price Performance

Shares of HUT opened at $118.88 on Thursday. Hut 8 Corp. has a 1-year low of $15.26 and a 1-year high of $140.80. The stock has a market cap of $13.38 billion, a PE ratio of -39.63 and a beta of 4.61. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a fifty day moving average price of $97.20 and a 200 day moving average price of $67.46.

Hut 8 (NASDAQ:HUT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing analysts' consensus estimates of ($0.33) by ($1.65). Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. The company had revenue of $139.31 million during the quarter, compared to analysts' expectations of $78.53 million. As a group, sell-side analysts anticipate that Hut 8 Corp. will post -1.29 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on HUT shares. Citigroup reiterated an "outperform" rating on shares of Hut 8 in a research note on Tuesday, April 28th. B. Riley Financial boosted their target price on shares of Hut 8 from $76.00 to $130.00 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. BTIG Research boosted their target price on shares of Hut 8 from $90.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Piper Sandler boosted their target price on shares of Hut 8 from $93.00 to $127.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Finally, Northland Securities set a $120.00 target price on shares of Hut 8 in a research note on Thursday, May 7th. Seventeen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $107.72.

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.

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