Hut 8 (NASDAQ:HUT) Director Sells $1,732,080.00 in Stock

Hut 8 Corp. (NASDAQ:HUT) Director Rick Rickertsen sold 16,496 shares of Hut 8 stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $105.00, for a total value of $1,732,080.00. Following the transaction, the director owned 17,491 shares of the company’s stock, valued at $1,836,555. This represents a 48.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Rick Rickertsen also recently made the following trade(s):

• On Wednesday, May 13th, Rick Rickertsen sold 17,491 shares of Hut 8 stock. The stock was sold at an average price of $110.00, for a total value of $1,924,010.00.

Hut 8 Stock Performance

Shares of NASDAQ HUT traded up $1.01 during midday trading on Wednesday, hitting $108.32. 4,657,179 shares of the company’s stock were exchanged, compared to its average volume of 5,255,561. 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 12 month low of $14.74 and a 12 month high of $112.26. The company’s 50 day moving average price is $64.68 and its 200 day moving average price is $54.96. The firm has a market capitalization of $12.20 billion, a PE ratio of -36.11 and a beta of 4.48.

Hut 8 (NASDAQ:HUT) last issued 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). Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%.The business had revenue of $139.31 million for the quarter, compared to the consensus estimate of $78.53 million. As a group, analysts predict that Hut 8 Corp. will post -1.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hut 8

Several large investors have recently bought and sold shares of the company. GAMMA Investing LLC bought a new position in shares of Hut 8 during the fourth quarter worth about $30,000. Imprint Wealth LLC acquired a new position in Hut 8 during the 4th quarter worth approximately $38,000. Russell Investments Group Ltd. raised its stake 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. Harbor Investment Advisory LLC acquired a new position in Hut 8 during the 1st quarter worth approximately $47,000. Finally, Activest Wealth Management acquired a new position in Hut 8 during the 4th quarter worth approximately $49,000. 31.75% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on HUT. BTIG Research lifted their target price on Hut 8 from $90.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Compass Point set a $130.00 price objective on Hut 8 in a report on Wednesday. Keefe, Bruyette & Woods increased their price objective on Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a research report on Tuesday, January 27th. Needham & Company LLC increased their price objective on Hut 8 from $88.00 to $128.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Piper Sandler increased their price objective on Hut 8 from $93.00 to $127.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Sixteen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $104.88.

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.