Azora Capital LP Takes $8.55 Million Position in Hut 8 Corp. $HUT

Azora Capital LP bought a new stake in Hut 8 Corp. (NASDAQ:HUT) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 245,543 shares of the company’s stock, valued at approximately $8,547,000. Azora Capital LP owned 0.23% of Hut 8 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HUT. Advisors Asset Management Inc. grew its stake in Hut 8 by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $30,000 after purchasing an additional 655 shares during the last quarter. Russell Investments Group Ltd. raised 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 purchasing an additional 1,719 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Hut 8 by 152.2% in the third quarter. Global Retirement Partners LLC now owns 3,349 shares of the company’s stock worth $117,000 after purchasing an additional 2,021 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Hut 8 during the third quarter worth about $209,000. Finally, Plancorp LLC purchased a new stake in Hut 8 in the third quarter valued at approximately $209,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Trading Down 0.5%

Shares of NASDAQ:HUT opened at $48.32 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.12. Hut 8 Corp. has a 12-month low of $10.04 and a 12-month high of $66.07. The business has a 50 day moving average of $55.24 and a two-hundred day moving average of $45.93. The company has a market capitalization of $5.36 billion, a PE ratio of -20.83 and a beta of 4.42.

Insider Activity at Hut 8

In related news, CFO Sean Joseph Glennan sold 4,625 shares of the business’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $226,856.25. Following the completion of the transaction, the chief financial officer directly owned 12,068 shares in the company, valued at $591,935.40. The trade was a 27.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Victor Semah sold 5,498 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $269,676.90. Following the sale, the insider directly owned 24,796 shares in the company, valued at $1,216,243.80. This trade represents a 18.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 11.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Roth Mkm reiterated a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a report on Tuesday, January 27th. Canaccord Genuity Group lifted their price objective on shares of Hut 8 from $62.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Benchmark reiterated a “buy” rating on shares of Hut 8 in a research note on Wednesday, December 17th. HC Wainwright reissued a “buy” rating and set a $80.00 target price on shares of Hut 8 in a report on Thursday, February 26th. Finally, Craig Hallum reissued a “buy” rating and set a $80.00 target price on shares of Hut 8 in a report on Thursday, December 18th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Hut 8 currently has an average rating of “Moderate Buy” and a consensus target price of $65.56.

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.