Hut 8 Corp. $HUT Stock Holdings Lifted by Alight Capital Management LP

Key Points

• Alight Capital Management LP increased its Hut 8 stake by 200% in the fourth quarter, ending with 300,000 shares valued at about $13.8 million. Hut 8 now represents 3.5% of Alight’s portfolio and is its sixth-largest holding.
• Several other institutions also boosted their positions, and hedge funds and other institutional investors now own 31.75% of Hut 8’s shares. Notable buyers included Northwestern Mutual Wealth Management, Sachem Head Capital Management, and Oasis Management.
• Despite strong institutional interest, insiders have been selling shares, with recent transactions by Victor Semah and Joseph Flinn. Hut 8 also reported a wider-than-expected quarterly loss, though revenue came in above forecasts, and analysts currently rate the stock a Moderate Buy with a consensus target price of $107.72.

Alight Capital Management LP lifted its position in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) by 200.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 300,000 shares of the company's stock after buying an additional 200,000 shares during the quarter. Hut 8 makes up 3.5% of Alight Capital Management LP's holdings, making the stock its 6th largest holding. Alight Capital Management LP owned 0.28% of Hut 8 worth $13,782,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings 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 acquiring an additional 4,062,367 shares during the last quarter. Sachem Head Capital Management LP bought a new stake in Hut 8 in the 4th quarter valued at $129,780,000. Ameriprise Financial Inc. increased its holdings in Hut 8 by 1,043.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company's stock valued at $46,255,000 after acquiring an additional 2,269,237 shares during the last quarter. Oasis Management Co Ltd. increased its holdings in Hut 8 by 231.5% in the 4th quarter. Oasis Management Co Ltd. now owns 2,307,683 shares of the company's stock valued at $106,015,000 after acquiring an additional 1,611,653 shares during the last quarter. Finally, Value Aligned Research Advisors LLC increased its holdings in Hut 8 by 110.2% in the 3rd quarter. Value Aligned Research Advisors LLC now owns 1,948,995 shares of the company's stock valued at $67,845,000 after acquiring an additional 1,021,955 shares during the last quarter. Hedge funds and other institutional investors own 31.75% of the company's stock.

Insider Activity

In related news, insider Victor Semah sold 10,518 shares of Hut 8 stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $76.83, for a total transaction of $808,097.94. Following the completion of the transaction, the insider directly owned 41,378 shares of the company's stock, valued at approximately $3,179,071.74. The trade was a 20.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, Director Joseph Flinn sold 30,500 shares of Hut 8 stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the transaction, 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 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 a total of 102,724 shares of company stock valued at $10,934,340 in the last quarter. 10.40% of the stock is currently owned by company insiders.

Hut 8 Stock Performance

Hut 8 stock opened at $118.88 on Thursday. The company's 50-day moving average price is $97.20 and its 200-day moving average price is $67.46. Hut 8 Corp. has a twelve month low of $15.26 and a twelve month high of $140.80. 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 has a market cap of $13.38 billion, a PE ratio of -39.63 and a beta of 4.61.

Hut 8 (NASDAQ:HUT - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $139.31 million for the quarter, compared to analysts' expectations of $78.53 million. On average, equities research analysts forecast that Hut 8 Corp. will post -1.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HUT has been the topic of a number of research reports. Northland Securities set a $120.00 price target on shares of Hut 8 in a report on Thursday, May 7th. HC Wainwright reiterated a "buy" rating and issued a $80.00 price target on shares of Hut 8 in a report on Thursday, February 26th. Rosenblatt Securities reiterated a "buy" rating and issued a $124.00 price target on shares of Hut 8 in a report on Thursday, June 11th. Canaccord Genuity Group lifted their price target on shares of Hut 8 from $70.00 to $130.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Finally, Cantor Fitzgerald lifted their price target on shares of Hut 8 from $68.00 to $80.00 and gave the company an "overweight" rating in a report on Thursday, April 9th. Seventeen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Hut 8 currently has a consensus rating of "Moderate Buy" and an average target price of $107.72.

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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