Jupiter Topco LLC Invests $8.52 Million in Hut 8 Corp. $HUT

Jupiter Topco LLC purchased a new position in Hut 8 Corp. (NASDAQ:HUT) during the second quarter, HoldingsChannel reports. The firm purchased 73,769 shares of the company’s stock, valued at approximately $8,516,000.

Several other institutional investors also recently bought and sold shares of the company. Arlington Trust Co LLC raised its holdings in Hut 8 by 175.0% in the second quarter. Arlington Trust Co LLC now owns 275 shares of the company’s stock worth $32,000 after buying an additional 175 shares during the last quarter. CoreCap Advisors LLC increased its position in shares of Hut 8 by 42.1% during the second quarter. CoreCap Advisors LLC now owns 540 shares of the company’s stock valued at $62,000 after acquiring an additional 160 shares in the last quarter. Imprint Wealth LLC bought a new stake in shares of Hut 8 during the fourth quarter valued at approximately $38,000. Harbor Investment Advisory LLC purchased a new position in Hut 8 in the 1st quarter worth approximately $47,000. Finally, Meeder Asset Management Inc. purchased a new position in Hut 8 in the 2nd quarter worth approximately $119,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hut 8

In other news, insider Victor Semah sold 10,000 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the completion of the sale, the insider owned 31,378 shares of the company’s stock, valued at $3,922,250. The trade was a 24.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Sean Joseph Glennan sold 6,445 shares of the company’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 sale, the chief financial officer owned 17,978 shares of the company’s stock, valued at $1,415,947.28. This trade represents a 26.39% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 54,664 shares of company stock valued at $6,212,160. Insiders own 10.40% of the company’s stock.

Hut 8 Stock Performance

Shares of NASDAQ:HUT opened at $79.42 on Monday. The stock’s 50-day simple moving average is $98.87 and its two-hundred day simple moving average is $85.23. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of -14.57 and a beta of 4.64. Hut 8 Corp. has a 52-week low of $24.20 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 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). The business had revenue of $74.93 million during the quarter, compared to the consensus estimate of $79.37 million. Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%.During the same quarter last year, the company earned $1.18 EPS. Analysts expect that Hut 8 Corp. will post -2.85 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HUT shares. Wall Street Zen downgraded Hut 8 from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Citizens Jmp boosted their price target on Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 7th. Morgan Stanley started coverage on Hut 8 in a report on Thursday, July 23rd. They set an “overweight” rating and a $263.00 price target on the stock. Weiss Ratings downgraded Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Finally, Freedom Broker raised Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Three analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $144.89.

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.