Ripple Effect Asset Management LP Takes $827,000 Position in Hut 8 Corp. $HUT

Key Points

• Ripple Effect Asset Management opened a new position in Hut 8, buying 18,000 shares valued at about $827,000. The stake makes HUT its 10th largest holding and represents 0.2% of its portfolio.
• Institutional interest remains notable, with several other funds adding to their Hut 8 holdings and institutions now owning 31.75% of the stock. However, insider selling has also been active, including a director and another insider reducing their stakes in recent weeks.
• Hut 8’s stock has been volatile but has rallied sharply, recently opening at $118.86 versus a 52-week low of $15.26. Analysts remain mostly bullish, with 17 Buy ratings and an average target price of $107.72, even after the company reported a wider-than-expected quarterly loss.

Ripple Effect Asset Management LP acquired a new stake in shares of Hut 8 Corp. (NASDAQ:HUT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,000 shares of the company's stock, valued at approximately $827,000. Hut 8 accounts for 0.2% of Ripple Effect Asset Management LP's investment portfolio, making the stock its 10th largest holding.

Several other institutional investors have also recently made changes to their positions in HUT. Nisa Investment Advisors LLC lifted its stake in shares of Hut 8 by 1.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company's stock valued at $734,000 after buying an additional 254 shares in the last quarter. CWM LLC lifted its stake in shares of Hut 8 by 37.4% in the fourth quarter. CWM LLC now owns 1,106 shares of the company's stock valued at $51,000 after buying an additional 301 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Hut 8 by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company's stock valued at $331,000 after buying an additional 321 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Hut 8 by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company's stock valued at $996,000 after buying an additional 362 shares in the last quarter. Finally, Integrated Wealth Concepts LLC lifted its stake in shares of Hut 8 by 4.8% in the fourth quarter. Integrated Wealth Concepts LLC now owns 10,028 shares of the company's stock valued at $461,000 after buying an additional 456 shares in the last quarter. Institutional investors and hedge funds own 31.75% of the company's stock.

Insider Activity

In other news, Director Rick Rickertsen sold 17,491 shares of the stock in a transaction dated 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 sale, the director owned 17,491 shares in the company, valued at $1,924,010. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Victor Semah sold 10,518 shares of the stock in a transaction dated 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 sale, the insider owned 41,378 shares of the company's stock, valued at approximately $3,179,071.74. This represents a 20.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 64,505 shares of company stock worth $6,479,788 over the last quarter. Insiders own 10.40% of the company's stock.

Hut 8 Stock Performance

Shares of HUT stock opened at $118.86 on Monday. The firm has a 50-day moving average of $92.90 and a 200-day moving average of $65.80. The company has a market cap of $13.38 billion, a P/E 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 Corp. has a one year low of $15.26 and a one year high of $140.80.

Hut 8 (NASDAQ:HUT - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The firm had revenue of $139.31 million during the quarter, compared to analysts' expectations of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. Equities research analysts forecast that Hut 8 Corp. will post -1.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HUT. B. Riley Financial raised their price objective on shares of Hut 8 from $76.00 to $130.00 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Weiss Ratings lowered shares of Hut 8 from a "sell (d+)" rating to a "sell (d-)" rating in a research note on Thursday, May 7th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $124.00 price objective on shares of Hut 8 in a research note on Thursday. Piper Sandler raised their price objective on shares of Hut 8 from $93.00 to $127.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. Finally, Compass Point set a $130.00 price objective on shares of Hut 8 in a research note on Wednesday, May 13th. Seventeen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $107.72.

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.

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