Nicholas Investment Partners LP Makes New Investment in Hut 8 Corp. $HUT

Nicholas Investment Partners LP purchased a new position in Hut 8 Corp. (NASDAQ:HUT) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 21,193 shares of the company’s stock, valued at approximately $2,447,000.

Other hedge funds also recently made changes to their positions in the company. Arlington Trust Co LLC lifted 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 purchasing an additional 175 shares in the last quarter. Imprint Wealth LLC purchased a new position in Hut 8 during the 4th quarter valued at about $38,000. Russell Investments Group Ltd. increased its position in shares of Hut 8 by 235.8% during the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock valued at $46,000 after buying an additional 1,719 shares during the period. Harbor Investment Advisory LLC bought a new stake in shares of Hut 8 during the first quarter valued at about $47,000. Finally, Activest Wealth Management purchased a new stake in shares of Hut 8 in the fourth quarter worth about $49,000. 31.75% of the stock is currently owned by hedge funds and other institutional investors.

Hut 8 Price Performance

HUT opened at $79.56 on Tuesday. The stock has a 50-day moving average price of $101.92 and a 200-day moving average price of $84.32. Hut 8 Corp. has a 12-month low of $21.89 and a 12-month high of $140.80. 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 stock has a market capitalization of $9.81 billion, a P/E ratio of -14.60 and a beta of 4.64.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings data 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 $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 quarter last year, the company posted $1.18 earnings per share. Equities analysts predict that Hut 8 Corp. will post -2.85 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on HUT. Weiss Ratings cut shares of Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, August 19th. Loop Capital set a $226.00 target price on shares of Hut 8 in a research note on Monday, June 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $124.00 price target on shares of Hut 8 in a report on Wednesday, August 5th. Citizens Jmp boosted their price target on shares of Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a research report on Thursday, May 7th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Hut 8 in a report on Tuesday, April 28th. Two 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $144.89.

Insider Buying and Selling

In other news, insider Victor Semah sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total value of $1,250,000.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Flinn sold 30,500 shares of the company’s stock in a transaction 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 completion of the sale, the director directly owned 18,238 shares of the company’s stock, valued at $2,119,437.98. This trade represents a 62.58% decrease in their position. 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. Insiders have sold 48,219 shares of company stock worth $5,704,552 over the last quarter. Company 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.