Capstone Investment Advisors LLC Invests $863,000 in Hut 8 Corp. $HUT

Capstone Investment Advisors LLC purchased a new stake in shares of Hut 8 Corp. (NASDAQ:HUT) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,476 shares of the company’s stock, valued at approximately $863,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in HUT. Arlington Trust Co LLC grew its holdings in Hut 8 by 175.0% during the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock worth $32,000 after acquiring an additional 175 shares in the last quarter. Imprint Wealth LLC bought a new stake in shares of Hut 8 in the 4th quarter valued at about $38,000. Russell Investments Group Ltd. lifted its position in shares of Hut 8 by 235.8% in 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 during the period. Harbor Investment Advisory LLC purchased a new stake in shares of Hut 8 in the 1st quarter worth approximately $47,000. Finally, Activest Wealth Management bought a new position in shares of Hut 8 during the fourth quarter valued at approximately $49,000. 31.75% of the stock is currently owned by institutional investors.

Hut 8 Stock Down 8.8%

NASDAQ:HUT opened at $79.42 on Friday. The company’s 50-day simple moving average is $98.87 and its 200-day simple moving average is $85.03. The company has a debt-to-equity ratio of 4.22, a quick ratio of 19.35 and a current ratio of 19.35. Hut 8 Corp. has a fifty-two week low of $24.20 and a fifty-two week high of $140.80. The stock has a market capitalization of $9.79 billion, a P/E ratio of -14.57 and a beta of 4.64.

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

Analysts Set New Price Targets

Several brokerages recently issued reports on HUT. Compass Point set a $195.00 price objective on shares of Hut 8 in a report on Wednesday, July 22nd. Rosenblatt Securities restated a “buy” rating and set a $124.00 target price on shares of Hut 8 in a report on Wednesday, August 5th. Jefferies Financial Group began coverage on Hut 8 in a research report on Thursday, May 14th. They set a “buy” rating and a $156.00 target price on the stock. Needham & Company LLC cut their price target on Hut 8 from $145.00 to $138.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. Finally, Loop Capital set a $226.00 price target on Hut 8 in a research report on Monday, June 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Hut 8 has a consensus rating of “Buy” and an average target price of $144.89.

Insider Transactions at Hut 8

In related news, insider Victor Semah sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the transaction, the insider directly owned 31,378 shares in the company, valued at $3,922,250. The trade was a 24.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sean Joseph Glennan sold 6,445 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $78.76, for a total value of $507,608.20. Following the transaction, the chief financial officer owned 17,978 shares in the company, valued at approximately $1,415,947.28. This trade represents a 26.39% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 54,664 shares of company stock valued at $6,212,160. Corporate insiders own 10.40% of the company’s stock.

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.