Marnell Management LLC Takes Position in Hut 8 Corp. $HUT

Marnell Management LLC purchased a new stake in Hut 8 Corp. (NASDAQ:HUT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 75,942 shares of the company’s stock, valued at approximately $3,489,000. Hut 8 makes up approximately 1.7% of Marnell Management LLC’s investment portfolio, making the stock its 17th largest holding. Marnell Management LLC owned about 0.07% of Hut 8 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in HUT. GAMMA Investing LLC acquired a new stake in shares of Hut 8 in the 4th quarter valued at approximately $30,000. Russell Investments Group Ltd. boosted its position 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 buying an additional 1,719 shares during the period. Activest Wealth Management acquired a new stake in Hut 8 during the 4th quarter worth approximately $49,000. Danske Bank A S acquired a new stake in Hut 8 during the 4th quarter worth approximately $51,000. Finally, CWM LLC boosted its position in Hut 8 by 37.4% during the 4th quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after buying an additional 301 shares during the period. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HUT has been the topic of several recent research reports. BTIG Research lifted their target price on shares of Hut 8 from $90.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings downgraded shares of Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Citizens Jmp lifted their target price on shares of Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 7th. Arete Research initiated coverage on shares of Hut 8 in a research report on Monday, March 23rd. They set a “buy” rating and a $136.00 target price on the stock. Finally, Canaccord Genuity Group lifted their target price on shares of Hut 8 from $70.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Seventeen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.72.

Hut 8 Stock Performance

Shares of HUT stock opened at $118.86 on Monday. The firm has a market capitalization of $13.38 billion, a PE ratio of -39.62 and a beta of 4.61. The firm has a fifty day simple moving average of $92.90 and a two-hundred day simple moving average of $65.80. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. Hut 8 Corp. has a 12 month low of $15.26 and a 12 month high of $140.80.

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

Insider Buying and Selling at Hut 8

In other Hut 8 news, Director Rick Rickertsen sold 17,491 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the completion of the sale, the director owned 17,491 shares in the company, valued at approximately $1,924,010. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Victor Semah sold 10,518 shares of the business’s stock in a transaction 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 sale, 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 position. 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. In the last 90 days, insiders sold 64,505 shares of company stock worth $6,479,788. 10.40% of the stock is owned by corporate insiders.

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.