Clearline Capital LP Invests $5.34 Million in Hut 8 Corp. $HUT

by · The Cerbat Gem

Clearline Capital LP acquired a new position in shares of Hut 8 Corp. (NASDAQ:HUT – Free Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 116,200 shares of the company’s stock, valued at approximately $5,338,000.

Other hedge funds have also modified their holdings of the company. Harvest Portfolios Group Inc. increased its stake in shares of Hut 8 by 75.3% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 85,093 shares of the company’s stock worth $2,962,000 after purchasing an additional 36,543 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Hut 8 by 4,669,387.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after purchasing an additional 4,062,367 shares in the last quarter. Handelsbanken Fonder AB purchased a new position in shares of Hut 8 during the 4th quarter worth approximately $1,153,000. Steadview Capital Management LLC increased its stake in shares of Hut 8 by 1,425.3% during the 4th quarter. Steadview Capital Management LLC now owns 431,655 shares of the company’s stock worth $19,830,000 after purchasing an additional 403,355 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new position in shares of Hut 8 during the 3rd quarter worth approximately $1,385,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on HUT. Piper Sandler raised their target price on shares of Hut 8 from $93.00 to $127.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Northland Securities set a $120.00 target price on shares of Hut 8 in a research report on Thursday, May 7th. Rosenblatt Securities restated a “buy” rating and set a $124.00 target price on shares of Hut 8 in a research report on Thursday, June 11th. Canaccord Genuity Group raised their target price on shares of Hut 8 from $70.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, BTIG Research raised their target price on shares of Hut 8 from $90.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Seventeen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hut 8 has a consensus rating of “Moderate Buy” and an average price target of $107.72.

Read Our Latest Stock Analysis on Hut 8

Insider Activity at Hut 8

In other Hut 8 news, Director Rick Rickertsen sold 17,491 shares of Hut 8 stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total value of $1,924,010.00. Following the transaction, the director owned 17,491 shares in the company, valued at $1,924,010. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Victor Semah sold 10,518 shares of Hut 8 stock in a transaction on Monday, May 4th. The shares were sold at an average price of $76.83, for a total transaction of $808,097.94. Following the completion of the transaction, the insider owned 41,378 shares in the company, valued at approximately $3,179,071.74. This trade represents a 20.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 102,724 shares of company stock worth $10,934,340 in the last 90 days. Company insiders own 10.40% of the company’s stock.

Hut 8 Stock Down 2.1%

Shares of NASDAQ HUT opened at $118.88 on Thursday. The firm has a market cap of $13.38 billion, a P/E ratio of -39.63 and a beta of 4.61. The firm’s 50 day moving average price is $97.20 and its 200 day moving average price is $67.46. Hut 8 Corp. has a 1 year low of $15.26 and a 1 year high of $140.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86.

Hut 8 (NASDAQ:HUT – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). The company had revenue of $139.31 million during the quarter, compared to analyst estimates of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. As a group, sell-side analysts anticipate that Hut 8 Corp. will post -1.29 earnings per share for the current year.

Hut 8 Profile

(Free Report)

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.

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