Oasis Management Co Ltd. Increases Stock Position in Hut 8 Corp. $HUT

Oasis Management Co Ltd. boosted its stake in Hut 8 Corp. (NASDAQ:HUT) by 231.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,307,683 shares of the company’s stock after acquiring an additional 1,611,653 shares during the period. Hut 8 accounts for about 6.9% of Oasis Management Co Ltd.’s holdings, making the stock its 2nd biggest position. Oasis Management Co Ltd.’s holdings in Hut 8 were worth $106,015,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its position in shares of Hut 8 by 1.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock valued at $734,000 after purchasing an additional 254 shares during the period. CWM LLC raised its position in shares of Hut 8 by 37.4% in the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock valued at $51,000 after purchasing an additional 301 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Hut 8 by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock valued at $331,000 after purchasing an additional 321 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Hut 8 by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock valued at $996,000 after purchasing an additional 362 shares during the period. Finally, GAMMA Investing LLC bought a new stake in shares of Hut 8 in the fourth quarter valued at approximately $30,000. Institutional investors own 31.75% of the company’s stock.

Hut 8 Price Performance

Shares of NASDAQ:HUT opened at $118.86 on Friday. The company has a 50 day moving average of $92.90 and a 200 day moving average of $65.62. The stock has a market cap of $13.38 billion, a P/E ratio of -39.62 and a beta of 4.61. Hut 8 Corp. has a 12 month low of $15.26 and a 12 month high of $140.80. 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 quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The firm had revenue of $139.31 million for the quarter, compared to analysts’ expectations 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 forecast that Hut 8 Corp. will post -1.29 EPS for the current fiscal year.

Insider Activity at Hut 8

In related news, insider Victor Semah sold 10,518 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $3,179,071.74. The trade was a 20.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, Director Amy Marie Wilkinson sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the transaction, the director directly owned 262,136 shares of the company’s stock, valued at approximately $26,418,066.08. This represents a 7.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 64,505 shares of company stock valued at $6,479,788. Corporate insiders own 10.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HUT shares. Canaccord Genuity Group boosted their price target on shares of Hut 8 from $70.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Citigroup reissued an “outperform” rating on shares of Hut 8 in a research report on Tuesday, April 28th. Cantor Fitzgerald boosted their price target on shares of Hut 8 from $68.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, April 9th. Citizens Jmp boosted their price objective on shares of Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a research note on Thursday, May 7th. Finally, Jefferies Financial Group began coverage on shares of Hut 8 in a research note on Thursday, May 14th. They set a “buy” rating and a $156.00 price objective for the company. Seventeen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $107.72.

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.