18,000 Shares in Hut 8 Corp. $HUT Purchased by Ripple Effect Asset Management LP

Ripple Effect Asset Management LP acquired a new position in shares of Hut 8 Corp. (NASDAQ:HUT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,000 shares of the company’s stock, valued at approximately $827,000. Hut 8 comprises approximately 0.2% of Ripple Effect Asset Management LP’s holdings, making the stock its 10th largest holding.

Other large investors have also added to or reduced their stakes in the company. Harvest Portfolios Group Inc. increased its holdings in Hut 8 by 75.3% during the third quarter. Harvest Portfolios Group Inc. now owns 85,093 shares of the company’s stock worth $2,962,000 after buying an additional 36,543 shares during the last quarter. Zweig DiMenna Associates LLC increased its holdings in Hut 8 by 256.5% during the third quarter. Zweig DiMenna Associates LLC now owns 707,000 shares of the company’s stock worth $24,611,000 after buying an additional 508,700 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Hut 8 by 4,669,387.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after buying an additional 4,062,367 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in Hut 8 during the fourth quarter worth about $1,153,000. Finally, WINTON GROUP Ltd purchased a new stake in Hut 8 during the third quarter worth about $1,385,000. Hedge funds and other institutional investors own 31.75% of the company’s stock.

Hut 8 Price Performance

HUT opened at $118.86 on Monday. The firm has a 50-day moving average price of $92.90 and a 200-day moving average price of $65.80. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. Hut 8 Corp. has a twelve month low of $15.26 and a twelve month 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.

Hut 8 (NASDAQ:HUT) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. Equities analysts expect that Hut 8 Corp. will post -1.29 EPS for the current year.

Insider Activity

In other news, Director Rick Rickertsen sold 17,491 shares of the firm’s 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 completion of the transaction, the director directly owned 17,491 shares in the company, valued at approximately $1,924,010. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victor Semah sold 10,518 shares of the firm’s 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 transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last ninety days, insiders sold 64,505 shares of company stock worth $6,479,788. 10.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HUT. Northland Securities set a $120.00 price objective on shares of Hut 8 in a report on Thursday, May 7th. Compass Point set a $130.00 target price on shares of Hut 8 in a research note on Wednesday, May 13th. B. Riley Financial lifted their target price on shares of Hut 8 from $76.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Jefferies Financial Group assumed coverage on shares of Hut 8 in a research note on Thursday, May 14th. They issued a “buy” rating and a $156.00 target price for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $124.00 target price on shares of Hut 8 in a research note on Thursday. Seventeen equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Hut 8 has an average rating of “Moderate Buy” and an average target price of $107.72.

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.