Dayah Capital LLC Invests $7.63 Million in Hut 8 Corp. $HUT

Dayah Capital LLC acquired a new stake in Hut 8 Corp. (NASDAQ:HUT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 66,128 shares of the company’s stock, valued at approximately $7,634,000. Hut 8 comprises 2.6% of Dayah Capital LLC’s portfolio, making the stock its 8th biggest position. Dayah Capital LLC owned about 0.05% of Hut 8 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Arlington Trust Co LLC raised its position in Hut 8 by 175.0% in the 2nd quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock valued at $32,000 after purchasing an additional 175 shares during the last quarter. CoreCap Advisors LLC raised its holdings in shares of Hut 8 by 42.1% in the second quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock valued at $62,000 after buying an additional 160 shares during the last quarter. Imprint Wealth LLC purchased a new stake in shares of Hut 8 in the fourth quarter valued at about $38,000. Harbor Investment Advisory LLC acquired a new stake in shares of Hut 8 during the first quarter worth about $47,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Hut 8 during the second quarter worth about $119,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Insiders Place Their Bets

In other Hut 8 news, CFO Sean Joseph Glennan sold 6,445 shares of the firm’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 sale, the chief financial officer directly 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. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Victor Semah sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were 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 of the company’s stock, valued at $3,922,250. The trade was a 24.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 54,664 shares of company stock valued at $6,212,160 over the last quarter. Insiders own 10.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on HUT. Benchmark upped their price objective on Hut 8 from $165.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Freedom Capital upgraded shares of Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Northland Securities set a $120.00 price target on Hut 8 in a report on Thursday, May 7th. Morgan Stanley started coverage on shares of Hut 8 in a research note on Thursday, July 23rd. They issued an “overweight” rating and a $263.00 price objective for the company. Finally, Jefferies Financial Group initiated 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. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $144.89.

Hut 8 Price Performance

HUT stock opened at $85.50 on Wednesday. The company has a market capitalization of $10.54 billion, a PE ratio of -15.69 and a beta of 4.64. Hut 8 Corp. has a 52-week low of $23.03 and a 52-week high of $140.80. The stock’s 50 day moving average is $101.20 and its two-hundred day moving average is $84.54. The company has a quick ratio of 19.35, a current ratio of 19.35 and a debt-to-equity ratio of 4.22.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.72). Hut 8 had a negative net margin of 188.59% and a negative return on equity of 0.97%. The firm had revenue of $72.66 million for the quarter, compared to analyst estimates of $79.37 million. During the same quarter in the previous year, the company earned $1.18 EPS. Analysts predict that Hut 8 Corp. will post -2.85 earnings per share for the current fiscal year.

Hut 8 Company 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.