Dayah Capital LLC Purchases Shares of 66,128 Hut 8 Corp. $HUT

Dayah Capital LLC acquired a new stake in shares of Hut 8 Corp. (NASDAQ:HUT) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 66,128 shares of the company’s stock, valued at approximately $7,634,000. Hut 8 accounts for approximately 2.6% of Dayah Capital LLC’s investment portfolio, making the stock its 8th largest position.

Other hedge funds also recently made changes to their positions in the company. Arlington Trust Co LLC grew its holdings in shares of Hut 8 by 175.0% in the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock worth $32,000 after acquiring an additional 175 shares during the last quarter. Imprint Wealth LLC acquired a new stake in shares of Hut 8 during the fourth quarter worth $38,000. Russell Investments Group Ltd. lifted its holdings in shares of Hut 8 by 235.8% during the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock valued at $46,000 after purchasing an additional 1,719 shares during the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of Hut 8 during the first quarter valued at $47,000. Finally, Activest Wealth Management acquired a new position in shares of Hut 8 in the 4th quarter valued at $49,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

Analysts Set New Price Targets

HUT has been the topic of several recent analyst reports. Freedom Capital upgraded Hut 8 to a “strong-buy” rating in a report on Tuesday, August 18th. Citigroup reiterated an “outperform” rating on shares of Hut 8 in a report on Tuesday, April 28th. Keefe, Bruyette & Woods dropped their target price on shares of Hut 8 from $157.00 to $154.00 and set an “outperform” rating on the stock in a research report on Thursday, August 6th. Wall Street Zen lowered shares of Hut 8 from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Finally, Needham & Company LLC reduced their price target on shares of Hut 8 from $145.00 to $138.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $144.89.

Hut 8 Price Performance

Shares of NASDAQ:HUT opened at $85.50 on Wednesday. The firm has a market cap of $10.54 billion, a price-to-earnings ratio of -15.69 and a beta of 4.64. Hut 8 Corp. has a 1 year low of $23.03 and a 1 year high of $140.80. The company has a current ratio of 19.35, a quick ratio of 19.35 and a debt-to-equity ratio of 4.22. The business has a fifty day simple moving average of $101.20 and a 200 day simple moving average of $84.54.

Hut 8 (NASDAQ:HUT) last issued its earnings results on Wednesday, August 5th. The company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.72). Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%.The firm had revenue of $72.66 million during the quarter, compared to analyst estimates of $79.37 million. During the same period in the previous year, the company earned $1.18 earnings per share. As a group, sell-side analysts predict that Hut 8 Corp. will post -2.85 earnings per share for the current fiscal year.

Insider Activity at Hut 8

In related news, Director Joseph Flinn sold 7,719 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $117.91, for a total value of $910,147.29. Following the completion of the sale, the director owned 10,519 shares of the company’s stock, valued at approximately $1,240,295.29. The trade was a 42.32% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Sean Joseph Glennan sold 6,445 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $78.76, for a total value of $507,608.20. Following the completion of the transaction, the chief financial officer owned 17,978 shares in the company, valued at $1,415,947.28. This represents a 26.39% decrease in their position. 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. In the last quarter, insiders sold 54,664 shares of company stock valued at $6,212,160. 10.40% of the stock is owned by corporate insiders.

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.