Azora Capital LP grew its holdings in Hut 8 Corp. (NASDAQ:HUT – Free Report) by 181.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 690,492 shares of the company’s stock after acquiring an additional 444,949 shares during the quarter. Hut 8 comprises 2.0% of Azora Capital LP’s investment portfolio, making the stock its 18th largest holding. Azora Capital LP’s holdings in Hut 8 were worth $31,721,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in HUT. GAMMA Investing LLC purchased a new stake in shares of Hut 8 in the fourth quarter valued at about $30,000. Imprint Wealth LLC purchased a new position in Hut 8 during the fourth quarter worth about $38,000. Russell Investments Group Ltd. raised its holdings in Hut 8 by 235.8% during the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after purchasing an additional 1,719 shares in the last quarter. Activest Wealth Management purchased a new position in Hut 8 during the fourth quarter worth about $49,000. Finally, CWM LLC raised its holdings in 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 hedge funds and other institutional investors.
Insider Buying and Selling at Hut 8
In other news, Director Rick Rickertsen sold 17,491 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total value of $1,924,010.00. Following the sale, the director directly owned 17,491 shares in the company, valued at $1,924,010. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Victor Semah sold 10,518 shares of the 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 sale, the insider owned 41,378 shares in the company, valued at $3,179,071.74. This represents a 20.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold 102,724 shares of company stock valued at $10,934,340 over the last three months. Company insiders own 10.40% of the company’s stock.
Analyst Upgrades and Downgrades
Read Our Latest Analysis on HUT
Hut 8 Stock Down 2.1%
HUT stock opened at $118.88 on Thursday. The company’s 50 day simple moving average is $97.20 and its 200-day simple moving average is $67.46. The firm has a market capitalization of $13.38 billion, a PE ratio of -39.63 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 debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86.
Hut 8 (NASDAQ:HUT – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The business had revenue of $139.31 million during the quarter, compared to analyst estimates of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. Equities analysts expect that Hut 8 Corp. will post -1.29 earnings per share for the current fiscal year.
About Hut 8
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.
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