Alight Capital Management LP Sells 150,000 Shares of Hut 8 Corp. $HUT

Alight Capital Management LP cut its stake in shares of Hut 8 Corp. (NASDAQ:HUT) by 60.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 100,000 shares of the company’s stock after selling 150,000 shares during the period. Alight Capital Management LP owned about 0.09% of Hut 8 worth $3,481,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Advisors Asset Management Inc. grew its stake in shares of Hut 8 by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock valued at $30,000 after acquiring an additional 655 shares during the period. Russell Investments Group Ltd. raised its stake 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 period. Global Retirement Partners LLC raised its stake in Hut 8 by 152.2% during the 3rd quarter. Global Retirement Partners LLC now owns 3,349 shares of the company’s stock worth $117,000 after acquiring an additional 2,021 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Hut 8 by 31.3% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,179 shares of the company’s stock valued at $171,000 after purchasing an additional 2,186 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its holdings in Hut 8 by 13.6% during the second quarter. Ameritas Investment Partners Inc. now owns 9,625 shares of the company’s stock valued at $179,000 after purchasing an additional 1,150 shares in the last quarter. Institutional investors own 31.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HUT. Piper Sandler reissued an “overweight” rating on shares of Hut 8 in a research note on Thursday, December 18th. Keefe, Bruyette & Woods lifted their target price on shares of Hut 8 from $55.00 to $75.00 and gave the company a “moderate buy” rating in a research note on Tuesday, January 27th. BTIG Research reaffirmed a “buy” rating and issued a $55.00 target price on shares of Hut 8 in a report on Wednesday, December 17th. Weiss Ratings lowered Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, March 2nd. Finally, B. Riley Financial raised their price target on Hut 8 from $61.00 to $76.00 and gave the company a “buy” rating in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hut 8 has an average rating of “Moderate Buy” and an average target price of $65.56.

Insider Transactions at Hut 8

In other news, CFO Sean Joseph Glennan sold 4,625 shares of Hut 8 stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $226,856.25. Following the sale, the chief financial officer directly owned 12,068 shares of the company’s stock, valued at approximately $591,935.40. The trade was a 27.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Victor Semah sold 5,498 shares of the business’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $269,676.90. Following the completion of the sale, the insider owned 24,796 shares in the company, valued at $1,216,243.80. This represents a 18.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 11.20% of the company’s stock.

Hut 8 Price Performance

HUT stock opened at $48.32 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.09 and a current ratio of 1.09. The company’s fifty day moving average price is $55.24 and its 200-day moving average price is $45.93. Hut 8 Corp. has a one year low of $10.04 and a one year high of $66.07. The company has a market capitalization of $5.36 billion, a PE ratio of -20.83 and a beta of 4.42.

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.