WINTON GROUP Ltd Acquires Shares of 70,700 Hut 8 Corp. $HUT

Key Points

• WINTON GROUP Ltd acquired 70,700 Hut 8 shares worth approximately $8.16 million, while institutional investors collectively own 31.75% of the company.
• Analyst sentiment remains broadly positive: Hut 8 has a consensus “Buy” rating and an average price target of $144.89, with BTIG Research raising its target to $150.
• Hut 8 shares opened at $95.92 after declining 3.6%; the company recently reported a larger-than-expected quarterly loss of $1.27 per share and revenue below analyst estimates.

WINTON GROUP Ltd acquired a new stake in Hut 8 Corp. (NASDAQ:HUT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 70,700 shares of the company's stock, valued at approximately $8,162,000. WINTON GROUP Ltd owned 0.06% of Hut 8 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. California State Teachers Retirement System grew its stake in Hut 8 by 11,436.2% in the 2nd quarter. California State Teachers Retirement System now owns 13,256,088 shares of the company's stock valued at $1,530,349,000 after buying an additional 13,141,179 shares during the last quarter. BlackRock Inc. acquired a new stake in Hut 8 during the second quarter worth approximately $1,093,294,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Hut 8 by 4,669,387.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company's stock worth $186,629,000 after acquiring an additional 4,062,367 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Hut 8 by 20.3% during the third quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company's stock worth $104,133,000 after acquiring an additional 504,652 shares during the period. Finally, SRS Investment Management LLC acquired a new position in shares of Hut 8 in the fourth quarter valued at approximately $131,838,000. Institutional investors and hedge funds own 31.75% of the company's stock.

Insider Buying and Selling

In other Hut 8 news, CFO Sean Glennan sold 6,445 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $78.76, for a total transaction of $507,608.20. Following the sale, the chief financial officer directly owned 17,978 shares in the company, valued at $1,415,947.28. This represents a 26.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joseph Flinn sold 7,719 shares of the firm'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 transaction, the director directly owned 10,519 shares in the company, valued at approximately $1,240,295.29. This represents 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 sold 24,164 shares of company stock valued at $2,667,755 over the last quarter. 10.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HUT. BTIG Research increased their target price on Hut 8 from $115.00 to $150.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Freedom Broker upgraded Hut 8 to a "strong-buy" rating in a research note on Tuesday, August 18th. Wall Street Zen lowered Hut 8 from a "sell" rating to a "strong sell" rating in a report on Saturday, August 1st. Piper Sandler increased their price objective on Hut 8 from $127.00 to $143.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, Freedom Capital raised Hut 8 to a "strong-buy" rating in a report on Tuesday, August 18th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $144.89.

Hut 8 Trading Down 3.6%

Shares of NASDAQ:HUT opened at $95.92 on Thursday. The business's 50 day simple moving average is $94.28 and its 200 day simple moving average is $87.19. Hut 8 Corp. has a 1 year low of $29.75 and a 1 year high of $140.80. The company has a debt-to-equity ratio of 4.22, a current ratio of 19.35 and a quick ratio of 19.35. The company has a market capitalization of $11.82 billion, a P/E ratio of -17.60 and a beta of 4.51.

Hut 8 (NASDAQ:HUT - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported ($1.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.72). Hut 8 had a negative net margin of 188.59% and a negative return on equity of 0.97%. The company had revenue of $74.93 million for the quarter, compared to the consensus estimate of $79.37 million. During the same quarter in the previous year, the company posted $1.18 earnings per share. On average, research analysts anticipate that Hut 8 Corp. will post -2.85 EPS for the current fiscal year.

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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