WINTON GROUP Ltd Acquires New Shares in Hut 8 Corp. $HUT

WINTON GROUP Ltd bought a new stake in Hut 8 Corp. (NASDAQ:HUT) during the second quarter, HoldingsChannel.com reports. The firm bought 70,700 shares of the company’s stock, valued at approximately $8,162,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in HUT. Millennium Management LLC grew its holdings in shares of Hut 8 by 11.9% during the 1st quarter. Millennium Management LLC now owns 330,416 shares of the company’s stock valued at $3,839,000 after purchasing an additional 35,120 shares during the last quarter. Prudential Financial Inc. bought a new position in Hut 8 in the 2nd quarter valued at approximately $216,000. Russell Investments Group Ltd. boosted its position in Hut 8 by 235.8% in 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 in the last quarter. New York State Common Retirement Fund boosted its position in Hut 8 by 19.9% in the second quarter. New York State Common Retirement Fund now owns 32,540 shares of the company’s stock valued at $605,000 after buying an additional 5,400 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Hut 8 by 13.2% during the second quarter. Invesco Ltd. now owns 1,067,985 shares of the company’s stock worth $19,865,000 after buying an additional 124,439 shares during the last quarter. Institutional investors own 31.75% of the company’s stock.

Hut 8 Trading Down 3.6%

Shares of NASDAQ HUT opened at $95.92 on Thursday. The firm has a 50 day moving average price of $94.28 and a two-hundred day moving average price of $87.19. The stock has a market cap of $11.82 billion, a P/E ratio of -17.60 and a beta of 4.51. Hut 8 Corp. has a 52-week low of $29.75 and a 52-week high of $140.80. The company has a debt-to-equity ratio of 4.22, a quick ratio of 19.35 and a current ratio of 19.35.

Hut 8 (NASDAQ:HUT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72). Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%.The business had revenue of $74.93 million for the quarter, compared to analyst estimates of $79.37 million. During the same quarter last year, the firm posted $1.18 EPS. As a group, equities analysts forecast that Hut 8 Corp. will post -2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Hut 8 in a report on Thursday, May 14th. They set a “buy” rating and a $156.00 price target for the company. Compass Point set a $195.00 price objective on Hut 8 in a research report on Wednesday, July 22nd. Needham & Company LLC lowered their target price on Hut 8 from $145.00 to $138.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. B. Riley Financial upped their target price on Hut 8 from $130.00 to $163.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Finally, Piper Sandler increased their target price on Hut 8 from $127.00 to $143.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $144.89.

Insider Buying and Selling

In other Hut 8 news, insider Victor Semah sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. Following the sale, the insider owned 31,378 shares in the company, valued at approximately $3,922,250. The trade was a 24.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph Flinn sold 7,719 shares of the stock in a transaction dated Friday, June 12th. The shares were 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 of the company’s stock, valued at approximately $1,240,295.29. The trade was a 42.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 24,164 shares of company stock valued at $2,667,755 in the last three months. Insiders own 10.40% of the company’s stock.

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.