Hut 8 Corp. $HUT is Alight Capital Management LP’s 6th Largest Position

Alight Capital Management LP raised its stake in Hut 8 Corp. (NASDAQ:HUT) by 200.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 300,000 shares of the company’s stock after buying an additional 200,000 shares during the period. Hut 8 makes up about 3.5% of Alight Capital Management LP’s investment portfolio, making the stock its 6th biggest position. Alight Capital Management LP’s holdings in Hut 8 were worth $13,782,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in HUT. Millennium Management LLC boosted its position in Hut 8 by 11.9% in the 1st quarter. Millennium Management LLC now owns 330,416 shares of the company’s stock valued at $3,839,000 after buying an additional 35,120 shares during the period. Prudential Financial Inc. purchased a new stake in Hut 8 in the 2nd quarter valued at about $216,000. Russell Investments Group Ltd. boosted its position in Hut 8 by 235.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock valued at $46,000 after buying an additional 1,719 shares during the period. New York State Common Retirement Fund boosted its position in Hut 8 by 19.9% in the 2nd quarter. New York State Common Retirement Fund now owns 32,540 shares of the company’s stock valued at $605,000 after buying an additional 5,400 shares during the period. Finally, Invesco Ltd. boosted its position in Hut 8 by 13.2% in the 2nd quarter. Invesco Ltd. now owns 1,067,985 shares of the company’s stock valued at $19,865,000 after buying an additional 124,439 shares during the period. 31.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Rick Rickertsen sold 17,491 shares of the stock in a transaction that occurred 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 completion of the sale, the director owned 17,491 shares of the company’s stock, valued at $1,924,010. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Flinn sold 7,719 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $117.91, for a total transaction of $910,147.29. Following the sale, the director directly owned 10,519 shares of the company’s stock, valued at $1,240,295.29. The trade was a 42.32% 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. Over the last three months, insiders sold 102,724 shares of company stock worth $10,934,340. 10.40% of the stock is currently owned by insiders.

Hut 8 Price Performance

Shares of HUT opened at $118.88 on Thursday. The company has a 50 day moving average price of $97.20 and a 200-day moving average price of $67.46. Hut 8 Corp. has a fifty-two week low of $15.26 and a fifty-two week high of $140.80. The stock has a market capitalization of $13.38 billion, a PE ratio of -39.63 and a beta of 4.61. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $78.53 million. Equities analysts predict that Hut 8 Corp. will post -1.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a research report on Thursday, February 26th. Compass Point set a $130.00 price objective on shares of Hut 8 in a research report on Wednesday, May 13th. Canaccord Genuity Group boosted their price objective on shares of Hut 8 from $70.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings cut shares of Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Finally, Needham & Company LLC upped their price target on shares of Hut 8 from $88.00 to $128.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Seventeen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.72.

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.