Hidden Lake Asset Management LP Acquires New Shares in Hut 8 Corp. $HUT

Hidden Lake Asset Management LP acquired a new position in Hut 8 Corp. (NASDAQ:HUT) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 127,457 shares of the company’s stock, valued at approximately $4,437,000. Hut 8 accounts for approximately 0.6% of Hidden Lake Asset Management LP’s investment portfolio, making the stock its 25th largest holding.

Several other institutional investors also recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position 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 worth $331,000 after buying an additional 321 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Hut 8 by 1.9% in the 3rd quarter. Arizona State Retirement System now owns 29,290 shares of the company’s stock valued at $1,020,000 after acquiring an additional 542 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Hut 8 by 68.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock worth $30,000 after purchasing an additional 655 shares during the last quarter. Main Management ETF Advisors LLC boosted its position in Hut 8 by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 44,713 shares of the company’s stock worth $832,000 after purchasing an additional 732 shares during the period. Finally, Intech Investment Management LLC grew its holdings in Hut 8 by 1.1% during the second quarter. Intech Investment Management LLC now owns 66,957 shares of the company’s stock valued at $1,245,000 after purchasing an additional 734 shares during the last quarter. 31.75% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Victor Semah sold 5,498 shares of the stock in a transaction 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 completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sean Joseph Glennan sold 4,625 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the transaction, the chief financial officer directly owned 12,068 shares of the company’s stock, valued at $591,935.40. The trade was a 27.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 11.20% of the company’s stock.

Hut 8 Trading Down 0.5%

Hut 8 stock opened at $48.32 on Monday. The business has a 50 day moving average price of $55.24 and a two-hundred day moving average price of $46.07. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.12. Hut 8 Corp. has a 12 month low of $10.04 and a 12 month high of $66.07. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of -20.83 and a beta of 4.42.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Craig Hallum reaffirmed a “buy” rating and set a $80.00 price objective on shares of Hut 8 in a report on Thursday, December 18th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research report on Thursday, February 26th. Keefe, Bruyette & Woods lifted their price objective on Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, January 27th. Roth Mkm restated a “buy” rating and set a $80.00 target price on shares of Hut 8 in a research note on Tuesday, January 27th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Hut 8 in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.56.

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.