Atika Capital Management LLC Makes New $2.31 Million Investment in Hut 8 Corp. $HUT

Atika Capital Management LLC bought a new stake in shares of Hut 8 Corp. (NASDAQ:HUT) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 49,300 shares of the company’s stock, valued at approximately $2,313,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of HUT. Sei Investments Co. raised its stake in shares of Hut 8 by 73.7% during the first quarter. Sei Investments Co. now owns 137,624 shares of the company’s stock valued at $6,456,000 after acquiring an additional 58,405 shares in the last quarter. State of Wyoming acquired a new stake in Hut 8 in the first quarter valued at approximately $384,000. Cetera Investment Advisers increased its position in shares of Hut 8 by 22.1% during the first quarter. Cetera Investment Advisers now owns 29,832 shares of the company’s stock worth $1,399,000 after purchasing an additional 5,402 shares in the last quarter. Aureus Asset Management LLC acquired a new position in shares of Hut 8 during the first quarter worth $479,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Hut 8 by 27.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,194 shares of the company’s stock valued at $103,000 after purchasing an additional 474 shares during the last quarter. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Hut 8 Price Performance

Shares of HUT stock opened at $117.67 on Friday. The company has a market capitalization of $13.25 billion, a PE ratio of -39.22 and a beta of 4.62. 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 12 month low of $18.68 and a 12 month high of $140.80. The firm’s 50-day moving average is $111.44 and its two-hundred day moving average is $79.09.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) 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 analyst estimates of $78.53 million. Analysts predict that Hut 8 Corp. will post -1.29 earnings per share for the current year.

Key Headlines Impacting Hut 8

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Benchmark raised its price target on Hut 8 to $195 from $165 and reiterated a buy rating, signaling additional upside after the stock’s recent rally. Benchmark Raises Hut 8 Price Target For Second Time In A Week
• Positive Sentiment: Needham lifted its target to $145 after Hut 8 secured a second Beacon Point AI lease, reinforcing investor confidence in the company’s pivot toward AI data centers. Needham lifts Hut 8 target to $145 after second Beacon Point AI lease
• Positive Sentiment: Benchmark also highlighted Hut 8’s new $9.8 billion AI infrastructure deal, which materially increases contracted capacity and supports the company’s transition from bitcoin mining toward higher-value AI data center operations. Benchmark Raises Hut 8 Price Target After Bitcoin Miner Signs $9.8 Billion AI Data Center Deal
• Positive Sentiment: Rosenblatt Securities initiated or reiterated a Buy rating on Hut 8, adding to the bullish sentiment around the stock. Hut 8 (NASDAQ:HUT) Earns “Buy” Rating from Rosenblatt Securities
• Neutral Sentiment: Investor attention is also being drawn to elevated call-option activity, suggesting traders are positioning for continued volatility around the stock. Investors Buy Large Volume of Call Options on Hut 8 (NASDAQ:HUT)

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. BTIG Research increased their price objective on Hut 8 from $115.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Citizens Jmp lifted their price objective on shares of Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a report on Thursday, May 7th. Northland Securities set a $120.00 price objective on shares of Hut 8 in a research report on Thursday, May 7th. Cantor Fitzgerald upped their price target on Hut 8 from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Finally, Compass Point set a $195.00 target price on shares of Hut 8 in a research note on Wednesday. Eighteen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.10.

Insider Transactions at Hut 8

In related news, Director Rick Rickertsen sold 17,491 shares of the stock in a transaction dated Wednesday, May 13th. The stock was 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 of the company’s stock, valued at approximately $1,924,010. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Flinn sold 30,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the completion of the transaction, the director directly owned 18,238 shares of the company’s stock, valued at approximately $2,119,437.98. The trade was a 62.58% 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. Insiders sold a total of 112,724 shares of company stock worth $12,184,340 in the last 90 days. Insiders own 10.40% of the company’s stock.

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.