Connor Clark & Lunn Investment Management Ltd. Invests $56.36 Million in Hut 8 Corp. $HUT

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Hut 8 Corp. (NASDAQ:HUT) during the second quarter, Holdings Channel reports. The fund purchased 488,428 shares of the company’s stock, valued at approximately $56,364,000.

Several other institutional investors also recently added to or reduced their stakes in HUT. Arlington Trust Co LLC raised its position in Hut 8 by 175.0% in the second quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock worth $32,000 after acquiring an additional 175 shares during the period. Imprint Wealth LLC purchased a new stake 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 during the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of Hut 8 in the 1st quarter worth approximately $47,000. Finally, Activest Wealth Management bought a new stake in shares of Hut 8 in the 4th quarter worth approximately $49,000. Institutional investors own 31.75% of the company’s stock.

Analyst Ratings Changes

HUT has been the topic of several research analyst reports. Freedom Capital upgraded Hut 8 to a “strong-buy” rating in a research note on Tuesday, August 18th. BTIG Research boosted their target price on Hut 8 from $115.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Loop Capital set a $226.00 price target on Hut 8 in a research report on Monday, June 22nd. Morgan Stanley started coverage on Hut 8 in a research note on Thursday, July 23rd. They set an “overweight” rating and a $263.00 price target for the company. Finally, Canaccord Genuity Group lifted their price objective on Hut 8 from $70.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Two equities 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 company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $144.89.

Insider Buying and Selling 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 sale, the insider directly owned 31,378 shares in the company, valued at approximately $3,922,250. The trade was a 24.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Flinn sold 30,500 shares of the stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the completion of the sale, the director directly owned 18,238 shares in the company, valued at approximately $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. Over the last quarter, insiders sold 48,219 shares of company stock valued at $5,704,552. 10.40% of the stock is owned by company insiders.

Hut 8 News Roundup

Here are the key news stories impacting Hut 8 this week:

• Positive Sentiment: Analyst upgrade: Freedom Capital upgraded Hut 8 to “strong-buy,” reinforcing the bullish view among some analysts. Zacks.com
• Positive Sentiment: Brokerage support: Hut 8 continues to carry a consensus “Buy” recommendation, which may provide support for the stock following its recent rally. Hut 8 receives consensus Buy recommendation
• Positive Sentiment: AI infrastructure opportunity: Hut 8 was cited as having a reported $19.6 billion Beacon Point backlog. The selling in Hut 8, TeraWulf and IREN was characterized as profit-taking and position unwinding after substantial 2026 gains, rather than evidence of deteriorating contracts or project economics. What is pressuring AI miner stocks
• Neutral Sentiment: Cryptocurrency backdrop: Bitcoin recently rose above $70,000 after President Trump backed the Clarity Act and the Treasury increased buybacks. The rally initially lifted crypto-related equities, but it has not prevented subsequent sector-wide profit-taking. Bitcoin and crypto shares climb after Clarity Act push
• Negative Sentiment: Legal overhang: A federal court approved notice of a proposed class-action settlement involving purchasers of Hut 8 securities. The announcement does not provide settlement terms, but the litigation may remain an investor concern until its financial and procedural implications are clear. Proposed Hut 8 class-action settlement

Hut 8 Price Performance

HUT opened at $80.86 on Monday. Hut 8 Corp. has a 12 month low of $21.00 and a 12 month high of $140.80. The company has a market cap of $9.97 billion, a PE ratio of -14.84 and a beta of 4.64. The company has a current ratio of 19.35, a quick ratio of 19.35 and a debt-to-equity ratio of 4.22. The company has a 50 day moving average of $102.73 and a 200 day moving average of $84.18.

Hut 8 (NASDAQ:HUT) last issued its earnings results on Wednesday, August 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72). The business had revenue of $72.66 million for the quarter, compared to the consensus estimate 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 firm earned $1.18 EPS. On average, sell-side analysts expect that Hut 8 Corp. will post -2.85 EPS for the current year.

About Hut 8

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.