149,800 Shares in Hut 8 Corp. $HUT Acquired by Engle Capital Management L.P.

Engle Capital Management L.P. acquired a new stake in Hut 8 Corp. (NASDAQ:HUT) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 149,800 shares of the company’s stock, valued at approximately $7,027,000. Hut 8 comprises about 2.4% of Engle Capital Management L.P.’s portfolio, making the stock its 16th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its stake in 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 purchasing an additional 4,062,367 shares during the last quarter. SRS Investment Management LLC acquired a new stake in shares of Hut 8 in the 4th quarter valued at $131,838,000. Sachem Head Capital Management LP bought a new position in shares of Hut 8 in the 4th quarter valued at $129,780,000. Ameriprise Financial Inc. increased its stake in shares of 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 purchasing an additional 2,269,237 shares during the last quarter. Finally, Oasis Management Co Ltd. raised its holdings in shares of Hut 8 by 231.5% during the 4th quarter. Oasis Management Co Ltd. now owns 2,307,683 shares of the company’s stock worth $106,015,000 after buying an additional 1,611,653 shares in the last quarter. 31.75% of the stock is currently 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 Hut 8 stock in a transaction on Wednesday, May 13th. The shares were 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 in the company, valued at approximately $1,924,010. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy Marie Wilkinson sold 20,000 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the completion of the sale, the director directly owned 262,136 shares in the company, valued at approximately $26,418,066.08. This represents a 7.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 112,724 shares of company stock worth $12,184,340 in the last three months. 10.40% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on HUT shares. Rosenblatt Securities restated a “buy” rating and set a $124.00 price objective on shares of Hut 8 in a research report on Tuesday, July 21st. B. Riley Financial lifted their target price on Hut 8 from $76.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Citigroup reissued an “outperform” rating on shares of Hut 8 in a research note on Tuesday, April 28th. Cantor Fitzgerald increased their target price on shares of Hut 8 from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Finally, Canaccord Genuity Group increased their target price on shares of Hut 8 from $70.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Eighteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $133.10.

Hut 8 Stock Down 4.9%

Shares of NASDAQ HUT opened at $104.59 on Tuesday. The company has a 50 day simple moving average of $111.76 and a 200 day simple moving average of $79.78. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. Hut 8 Corp. has a 1 year low of $18.68 and a 1 year high of $140.80. The firm has a market cap of $11.78 billion, a PE ratio of -34.86 and a beta of 4.62.

Hut 8 (NASDAQ:HUT) last posted its 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 return on equity of 0.35% and a negative net margin of 109.77%.The business had revenue of $139.31 million for the quarter, compared to the consensus estimate of $78.53 million. On average, research analysts forecast that Hut 8 Corp. will post -2.12 EPS for the current year.

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.