Moore Capital Management LP Decreases Stake in Hut 8 Corp. $HUT

Moore Capital Management LP cut its holdings in Hut 8 Corp. (NASDAQ:HUT) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 706,455 shares of the company’s stock after selling 16,545 shares during the quarter. Hut 8 makes up 1.2% of Moore Capital Management LP’s portfolio, making the stock its 5th largest position. Moore Capital Management LP owned 0.57% of Hut 8 worth $81,557,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Arlington Trust Co LLC grew 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 acquiring an additional 175 shares during the last quarter. Imprint Wealth LLC bought a new position in shares of Hut 8 in the fourth quarter worth about $38,000. Russell Investments Group Ltd. raised its stake in shares of Hut 8 by 235.8% in the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after acquiring an additional 1,719 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of Hut 8 during the first quarter worth approximately $47,000. Finally, CWM LLC lifted its position in shares of Hut 8 by 37.4% during the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after purchasing an additional 301 shares in the last quarter. 31.75% of the stock is owned by institutional investors.

Hut 8 Price Performance

Shares of NASDAQ:HUT opened at $79.42 on Monday. Hut 8 Corp. has a one year low of $24.20 and a one year high of $140.80. The company has a 50 day moving average of $98.87 and a 200-day moving average of $85.23. The company has a debt-to-equity ratio of 4.22, a current ratio of 19.35 and a quick ratio of 19.35. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of -14.57 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) earnings per share 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 business had revenue of $74.93 million during the quarter, compared to analyst estimates of $79.37 million. During the same quarter in the prior year, the company earned $1.18 earnings per share. On average, sell-side analysts forecast that Hut 8 Corp. will post -2.85 earnings per share for the current year.

Insider Buying and Selling at Hut 8

In other news, Director Joseph Flinn sold 7,719 shares of the 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 transaction, the director owned 10,519 shares of the company’s stock, valued at $1,240,295.29. This represents a 42.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 completion of the transaction, the chief financial officer owned 17,978 shares in the company, valued at $1,415,947.28. This represents a 26.39% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 54,664 shares of company stock worth $6,212,160. Insiders own 10.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Loop Capital set a $226.00 price target on shares of Hut 8 in a report on Monday, June 22nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $124.00 price objective on shares of Hut 8 in a report on Wednesday, August 5th. Morgan Stanley assumed coverage on Hut 8 in a research report on Thursday, July 23rd. They issued an “overweight” rating and a $263.00 price objective on the stock. BTIG Research lifted their target price on Hut 8 from $115.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Finally, Citizens Jmp boosted their target price on Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 7th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $144.89.

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.