Steamboat Capital Partners LLC Purchases New Holdings in Hut 8 Corp. $HUT

Steamboat Capital Partners LLC purchased a new position in Hut 8 Corp. (NASDAQ:HUT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 63,216 shares of the company’s stock, valued at approximately $7,298,000. Steamboat Capital Partners LLC owned 0.05% of Hut 8 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Arlington Trust Co LLC boosted its stake in Hut 8 by 175.0% in the second quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock valued at $32,000 after buying an additional 175 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Hut 8 by 258.5% during the second quarter. Parkside Financial Bank & Trust now owns 380 shares of the company’s stock worth $44,000 after acquiring an additional 274 shares in the last quarter. CoreCap Advisors LLC raised its stake in Hut 8 by 42.1% during the second quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock worth $62,000 after acquiring an additional 160 shares in the last quarter. Imprint Wealth LLC bought a new position in shares of Hut 8 in the fourth quarter worth about $38,000. Finally, Harbor Investment Advisory LLC bought a new position in shares of Hut 8 in the first quarter worth about $47,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HUT shares. Freedom Broker upgraded Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Jefferies Financial Group started coverage on Hut 8 in a report on Thursday, May 14th. They set a “buy” rating and a $156.00 price target for the company. Loop Capital set a $226.00 price objective on Hut 8 in a research note on Monday, June 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $124.00 price objective on shares of Hut 8 in a research report on Wednesday, August 5th. Finally, Maxim Group upgraded shares of Hut 8 to a “strong-buy” rating in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $144.89.

Insider Transactions at Hut 8

In other Hut 8 news, insider Victor Semah sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the sale, the insider directly owned 31,378 shares of the company’s stock, valued at $3,922,250. This represents a 24.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Flinn sold 30,500 shares of the company’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 sale, the director owned 18,238 shares in the company, valued at $2,119,437.98. The trade was a 62.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 54,664 shares of company stock worth $6,212,160. 10.40% of the stock is owned by company insiders.

Hut 8 Stock Up 6.4%

HUT opened at $99.49 on Wednesday. Hut 8 Corp. has a fifty-two week low of $26.19 and a fifty-two week high of $140.80. The company has a debt-to-equity ratio of 4.22, a current ratio of 19.35 and a quick ratio of 19.35. The company’s 50-day moving average is $94.47 and its 200 day moving average is $86.91. The firm has a market capitalization of $12.26 billion, a P/E ratio of -18.26 and a beta of 4.51.

Hut 8 (NASDAQ:HUT) last posted its earnings results on Wednesday, August 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.72). The firm had revenue of $74.93 million for the quarter, compared to the consensus estimate of $79.37 million. Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%.During the same period in the prior year, the business earned $1.18 EPS. Research analysts expect that Hut 8 Corp. will post -2.85 earnings per share for the current fiscal year.

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.