Nicholas Investment Partners LP Buys New Holdings in Hut 8 Corp. $HUT

Nicholas Investment Partners LP purchased a new position in Hut 8 Corp. (NASDAQ:HUT) during the second quarter, Holdings Channel reports. The fund purchased 21,193 shares of the company’s stock, valued at approximately $2,447,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HUT. Arlington Trust Co LLC boosted its stake in shares of Hut 8 by 175.0% during the second quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock valued at $32,000 after purchasing an additional 175 shares during the period. Imprint Wealth LLC purchased a new position in shares of Hut 8 in the fourth quarter worth $38,000. Russell Investments Group Ltd. increased its stake in shares of Hut 8 by 235.8% in the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after buying an additional 1,719 shares during the period. Harbor Investment Advisory LLC bought a new stake in Hut 8 during the 1st quarter valued at $47,000. Finally, Activest Wealth Management bought a new stake in Hut 8 during the 4th quarter valued at $49,000. Institutional investors own 31.75% of the company’s stock.

Insider Buying and Selling at Hut 8

In other news, insider Victor Semah sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the sale, the insider owned 31,378 shares in the company, valued at approximately $3,922,250. The trade was a 24.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Flinn sold 30,500 shares of the company’s 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 completion of the sale, the director directly owned 18,238 shares in the company, valued at $2,119,437.98. This represents a 62.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 48,219 shares of company stock valued at $5,704,552 in the last three months. Insiders own 10.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on HUT shares. Loop Capital set a $226.00 price target on shares of Hut 8 in a report on Monday, June 22nd. Needham & Company LLC lowered their price objective on shares of Hut 8 from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Morgan Stanley started coverage on shares of Hut 8 in a report on Thursday, July 23rd. They set an “overweight” rating and a $263.00 target price for the company. Keefe, Bruyette & Woods cut their target price on Hut 8 from $157.00 to $154.00 and set an “outperform” rating on the stock in a research note on Thursday, August 6th. Finally, BTIG Research boosted their price target on Hut 8 from $115.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Hut 8 currently has a consensus rating of “Buy” and an average target price of $144.89.

Hut 8 Trading Down 1.6%

HUT opened at $79.56 on Tuesday. The stock has a market cap of $9.81 billion, a PE ratio of -14.60 and a beta of 4.64. The company has a quick ratio of 19.35, a current ratio of 19.35 and a debt-to-equity ratio of 4.22. The business has a 50 day moving average of $101.92 and a 200-day moving average of $84.32. Hut 8 Corp. has a 52 week low of $21.89 and a 52 week high of $140.80.

Hut 8 (NASDAQ:HUT) last released its quarterly 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). The firm had revenue of $72.66 million for the quarter, compared to the consensus estimate of $79.37 million. Hut 8 had a negative net margin of 188.59% and a negative return on equity of 0.97%. During the same quarter in the prior year, the firm earned $1.18 earnings per share. Equities research analysts predict that Hut 8 Corp. will post -2.85 earnings per share for the current fiscal year.

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.