Hut 8 Corp. $HUT Stock Position Raised by Dayah Capital LLC

Dayah Capital LLC boosted its holdings in Hut 8 Corp. (NASDAQ:HUT) by 12.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 217,920 shares of the company’s stock after acquiring an additional 24,456 shares during the period. Hut 8 accounts for about 3.9% of Dayah Capital LLC’s investment portfolio, making the stock its 6th largest position. Dayah Capital LLC owned about 0.19% of Hut 8 worth $10,223,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new stake in shares of Hut 8 in the fourth quarter valued at about $30,000. Imprint Wealth LLC purchased a new position in shares of Hut 8 during the 4th quarter worth approximately $38,000. Russell Investments Group Ltd. increased its stake in shares of Hut 8 by 235.8% during the 2nd 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 in the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of Hut 8 during the 1st quarter worth approximately $47,000. Finally, Activest Wealth Management acquired a new position in shares of Hut 8 during the 4th quarter worth approximately $49,000. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Hut 8

In other Hut 8 news, Director Joseph Flinn sold 30,500 shares of the 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 transaction, the director owned 18,238 shares of the company’s stock, valued at $2,119,437.98. This trade represents a 62.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Amy Marie Wilkinson sold 20,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the sale, the director directly owned 262,136 shares of the company’s stock, valued at $26,418,066.08. This represents a 7.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 112,724 shares of company stock worth $12,184,340. 10.40% of the stock is currently owned by company insiders.

Hut 8 Price Performance

HUT stock opened at $108.27 on Friday. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of -36.09 and a beta of 4.62. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. Hut 8 Corp. has a 52-week low of $18.68 and a 52-week high of $140.80. The stock’s fifty day simple moving average is $111.81 and its 200-day simple moving average is $80.64.

Hut 8 (NASDAQ:HUT) last released its earnings results on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing the consensus estimate of ($0.33) by ($1.65). Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. The business had revenue of $139.31 million during the quarter, compared to analyst estimates of $78.53 million. Equities research analysts expect that Hut 8 Corp. will post -2.52 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. BTIG Research increased their target price on Hut 8 from $115.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Northland Securities set a $120.00 price target on Hut 8 in a report on Thursday, May 7th. Compass Point set a $195.00 price objective on Hut 8 in a research report on Wednesday, July 22nd. Citigroup reaffirmed an “outperform” rating on shares of Hut 8 in a research note on Tuesday, April 28th. Finally, Keefe, Bruyette & Woods lifted their price objective on Hut 8 from $138.00 to $157.00 and gave the stock an “outperform” rating in a research report on Tuesday. Eighteen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Hut 8 currently has a consensus rating of “Moderate Buy” and an average target price of $137.20.

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.