7,476 Shares in Hut 8 Corp. $HUT Acquired by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC bought a new position in shares of Hut 8 Corp. (NASDAQ:HUT) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 7,476 shares of the company’s stock, valued at approximately $863,000.

A number of other hedge funds have also bought and sold shares of HUT. Corient Private Wealth LP purchased a new position in shares of Hut 8 in the second quarter worth $752,000. Avala Global LP acquired a new stake in shares of Hut 8 during the second quarter worth $144,602,000. Bank of America Corp DE acquired a new stake in shares of Hut 8 during the second quarter worth $51,186,000. Gallagher Fiduciary Advisors LLC purchased a new stake in shares of Hut 8 during the second quarter valued at $480,000. Finally, Man Group plc purchased a new stake in shares of Hut 8 during the second quarter valued at $7,558,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

Hut 8 Stock Down 8.8%

Hut 8 stock opened at $79.42 on Friday. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of -14.57 and a beta of 4.64. Hut 8 Corp. has a 52 week low of $24.20 and a 52 week high of $140.80. The business’s 50-day moving average price is $98.87 and its 200 day moving average price is $85.03. The company has a quick ratio of 19.35, a current ratio of 19.35 and a debt-to-equity ratio of 4.22.

Hut 8 (NASDAQ:HUT) last announced 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). Hut 8 had a negative net margin of 188.59% and a negative return on equity of 0.97%. The company had revenue of $74.93 million for the quarter, compared to analysts’ expectations of $79.37 million. During the same quarter in the prior year, the business posted $1.18 earnings per share. As a group, sell-side analysts anticipate that Hut 8 Corp. will post -2.85 earnings per share for the current year.

Insider Transactions at Hut 8

In other news, CFO Sean Joseph Glennan sold 6,445 shares of Hut 8 stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $78.76, for a total transaction of $507,608.20. Following the completion of the transaction, the chief financial officer directly owned 17,978 shares of the company’s stock, valued at $1,415,947.28. The trade was a 26.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Joseph Flinn sold 7,719 shares of the business’s stock in a transaction 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 completion of the transaction, the director owned 10,519 shares of the company’s stock, valued at approximately $1,240,295.29. This represents a 42.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 54,664 shares of company stock valued at $6,212,160 in the last 90 days. 10.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on HUT shares. Compass Point set a $195.00 target price on Hut 8 in a research note on Wednesday, July 22nd. Weiss Ratings downgraded Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 19th. Wall Street Zen lowered Hut 8 from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Needham & Company LLC reduced their price objective on Hut 8 from $145.00 to $138.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Finally, Keefe, Bruyette & Woods decreased their target price on Hut 8 from $157.00 to $154.00 and set an “outperform” rating for the company in a report on Thursday, August 6th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $144.89.

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.