Hidden Lake Asset Management LP Invests $4.44 Million in Hut 8 Corp. $HUT

Hidden Lake Asset Management LP acquired a new stake in shares of Hut 8 Corp. (NASDAQ:HUT) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 127,457 shares of the company’s stock, valued at approximately $4,437,000. Hut 8 accounts for about 0.6% of Hidden Lake Asset Management LP’s investment portfolio, making the stock its 25th biggest holding. Hidden Lake Asset Management LP owned approximately 0.12% of Hut 8 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in HUT. Ameriprise Financial Inc. boosted its holdings in shares of Hut 8 by 1,043.0% during the second quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company’s stock valued at $46,255,000 after acquiring an additional 2,269,237 shares during the period. Thames Capital Management LLC acquired a new stake in shares of Hut 8 in the 3rd quarter worth about $25,084,000. Value Aligned Research Advisors LLC increased its holdings in shares of Hut 8 by 59.8% in the 3rd quarter. Value Aligned Research Advisors LLC now owns 1,481,712 shares of the company’s stock worth $51,578,000 after acquiring an additional 554,672 shares during the period. Zweig DiMenna Associates LLC lifted its position in Hut 8 by 256.5% in the 3rd quarter. Zweig DiMenna Associates LLC now owns 707,000 shares of the company’s stock valued at $24,611,000 after purchasing an additional 508,700 shares during the last quarter. Finally, Moore Capital Management LP bought a new stake in Hut 8 in the 2nd quarter valued at about $9,159,000. 31.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Hut 8 news, insider Victor Semah sold 5,498 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $269,676.90. Following the transaction, the insider owned 24,796 shares in the company, valued at approximately $1,216,243.80. This represents a 18.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Sean Joseph Glennan sold 4,625 shares of the company’s stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the completion of the transaction, the chief financial officer directly owned 12,068 shares in the company, valued at $591,935.40. This trade represents a 27.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 11.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on HUT. Weiss Ratings cut shares of Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Piper Sandler reaffirmed an “overweight” rating on shares of Hut 8 in a research note on Thursday, December 18th. Roth Mkm reiterated a “buy” rating and set a $80.00 price target on shares of Hut 8 in a research report on Tuesday, January 27th. Craig Hallum reissued a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research note on Thursday, December 18th. Finally, BTIG Research reissued a “buy” rating and set a $55.00 price target on shares of Hut 8 in a report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Hut 8 presently has a consensus rating of “Moderate Buy” and an average target price of $65.56.

Hut 8 Price Performance

HUT stock opened at $48.32 on Monday. The firm has a 50-day moving average of $55.24 and a two-hundred day moving average of $46.07. Hut 8 Corp. has a one year low of $10.04 and a one year high of $66.07. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.36 billion, a PE ratio of -20.83 and a beta of 4.42.

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.