Ardsley Advisory Partners LP Decreases Stock Position in Hut 8 Corp. $HUT

Ardsley Advisory Partners LP lessened its stake in shares of Hut 8 Corp. (NASDAQ:HUT) by 66.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 360,000 shares of the company’s stock after selling 715,000 shares during the quarter. Hut 8 makes up approximately 1.8% of Ardsley Advisory Partners LP’s investment portfolio, making the stock its 14th biggest holding. Ardsley Advisory Partners LP’s holdings in Hut 8 were worth $16,538,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the business. Alight Capital Management LP grew its position in Hut 8 by 200.0% in the 4th quarter. Alight Capital Management LP now owns 300,000 shares of the company’s stock valued at $13,782,000 after acquiring an additional 200,000 shares during the last quarter. Value Aligned Research Advisors LLC grew its position in Hut 8 by 43.1% in the 4th quarter. Value Aligned Research Advisors LLC now owns 2,788,516 shares of the company’s stock valued at $128,104,000 after acquiring an additional 839,521 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Hut 8 in the 4th quarter valued at $4,867,000. Gillson Capital LP bought a new position in Hut 8 in the 4th quarter valued at $11,320,000. Finally, AQR Capital Management LLC grew its position in Hut 8 by 57.3% in the 4th quarter. AQR Capital Management LLC now owns 51,343 shares of the company’s stock valued at $2,359,000 after acquiring an additional 18,711 shares during the last quarter. Institutional investors own 31.75% of the company’s stock.

Insider Transactions at Hut 8

In other Hut 8 news, Director Joseph Flinn sold 7,719 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $117.91, for a total value of $910,147.29. Following the completion of the sale, the director directly owned 10,519 shares in the company, valued at approximately $1,240,295.29. This represents a 42.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Rick Rickertsen sold 17,491 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total value of $1,924,010.00. Following the completion of the sale, the director owned 17,491 shares of the company’s stock, valued at $1,924,010. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 102,724 shares of company stock valued at $10,934,340 over the last 90 days. 10.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a research report on Thursday, February 26th. Weiss Ratings downgraded Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Jefferies Financial Group assumed coverage on Hut 8 in a research report on Thursday, May 14th. They issued a “buy” rating and a $156.00 price objective on the stock. Piper Sandler upped their price objective on Hut 8 from $93.00 to $127.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Northland Securities set a $120.00 price objective on Hut 8 in a research report on Thursday, May 7th. Seventeen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Hut 8 presently has an average rating of “Moderate Buy” and a consensus price target of $107.72.

Hut 8 Price Performance

Shares of HUT stock opened at $118.88 on Thursday. Hut 8 Corp. has a twelve month low of $15.26 and a twelve month high of $140.80. The stock has a market capitalization of $13.38 billion, a price-to-earnings ratio of -39.63 and a beta of 4.61. The stock has a fifty day simple moving average of $97.20 and a two-hundred day simple moving average of $67.46. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12.

Hut 8 (NASDAQ:HUT) last issued its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($1.65). Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%.The firm had revenue of $139.31 million during the quarter, compared to analysts’ expectations of $78.53 million. On average, analysts predict that Hut 8 Corp. will post -1.29 EPS for the current fiscal 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.