Sachem Head Capital Management LP Acquires New Holdings in Hut 8 Corp. $HUT

Sachem Head Capital Management LP acquired a new stake in Hut 8 Corp. (NASDAQ:HUT) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 2,825,000 shares of the company’s stock, valued at approximately $129,780,000. Hut 8 accounts for about 3.0% of Sachem Head Capital Management LP’s investment portfolio, making the stock its 15th biggest holding. Sachem Head Capital Management LP owned about 2.61% of Hut 8 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HUT. GAMMA Investing LLC acquired a new position in shares of Hut 8 in the 4th quarter valued at approximately $30,000. Russell Investments Group Ltd. boosted its position in Hut 8 by 235.8% during the 2nd 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. Activest Wealth Management acquired a new position in Hut 8 during the 4th quarter worth approximately $49,000. Danske Bank A S acquired a new position in Hut 8 during the 4th quarter worth approximately $51,000. Finally, CWM LLC boosted its position in Hut 8 by 37.4% during the 4th quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after acquiring an additional 301 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Stock Performance

Shares of Hut 8 stock opened at $118.86 on Monday. The business has a fifty day simple moving average of $92.90 and a two-hundred day simple moving average of $65.80. Hut 8 Corp. has a 1 year low of $15.26 and a 1 year high of $140.80. The company has a market capitalization of $13.38 billion, a price-to-earnings ratio of -39.62 and a beta of 4.61. 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) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($1.65). Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. The business had revenue of $139.31 million for the quarter, compared to analyst estimates of $78.53 million. Research analysts forecast that Hut 8 Corp. will post -1.29 EPS for the current year.

Wall Street Analysts Forecast Growth

HUT has been the subject of a number of recent research reports. Compass Point set a $130.00 price target on Hut 8 in a research report on Wednesday, May 13th. Arete Research initiated coverage on Hut 8 in a research report on Monday, March 23rd. They set a “buy” rating and a $136.00 price target for the company. Northland Securities set a $120.00 price target on Hut 8 in a research report on Thursday, May 7th. Weiss Ratings downgraded Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $124.00 price objective on shares of Hut 8 in a report on Thursday. Seventeen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.72.

Insider Buying and Selling at Hut 8

In other Hut 8 news, insider Victor Semah sold 10,518 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was 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 of the company’s stock, valued at $3,179,071.74. This trade represents a 20.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $100.78, for a total value of $2,015,600.00. Following the transaction, the director owned 262,136 shares in the company, valued at $26,418,066.08. The trade was a 7.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 64,505 shares of company stock valued at $6,479,788 in the last quarter. 10.40% of the stock is currently owned by insiders.

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.