Insider Selling: Hut 8 (NASDAQ:HUT) Director Sells $1,924,010.00 in Stock

Hut 8 Corp. (NASDAQ:HUT) Director Rick Rickertsen sold 17,491 shares of the company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $110.00, for a total value of $1,924,010.00. Following the sale, the director owned 17,491 shares in the company, valued at $1,924,010. The trade was a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, May 11th, Rick Rickertsen sold 16,496 shares of Hut 8 stock. The stock was sold at an average price of $105.00, for a total value of $1,732,080.00.

Hut 8 Stock Performance

HUT opened at $102.47 on Friday. Hut 8 Corp. has a 52-week low of $14.74 and a 52-week high of $112.26. The firm has a market capitalization of $11.54 billion, a PE ratio of -34.16 and a beta of 4.48. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The business’s 50-day simple moving average is $66.88 and its 200 day simple moving average is $55.72.

Hut 8 (NASDAQ:HUT) last released its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share (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 company had revenue of $139.31 million for the quarter, compared to the consensus estimate of $78.53 million. As a group, sell-side analysts expect that Hut 8 Corp. will post -2.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HUT. Rosenblatt Securities upped their price objective on Hut 8 from $89.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, May 8th. BTIG Research upped their target price on Hut 8 from $90.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Needham & Company LLC upped their target price on Hut 8 from $88.00 to $128.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Piper Sandler upped their target price on Hut 8 from $93.00 to $127.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $80.00 target price on shares of Hut 8 in a research report on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Hut 8 currently has an average rating of “Moderate Buy” and a consensus price target of $107.72.

Institutional Investors Weigh In On Hut 8

A number of large investors have recently added to or reduced their stakes in HUT. Northwestern Mutual Wealth Management Co. grew its position in Hut 8 by 4,669,387.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after buying an additional 4,062,367 shares in the last quarter. SRS Investment Management LLC acquired a new stake in Hut 8 during the fourth quarter worth approximately $131,838,000. Sachem Head Capital Management LP acquired a new stake in Hut 8 during the fourth quarter worth approximately $129,780,000. Ameriprise Financial Inc. grew its position in Hut 8 by 1,043.0% during the second quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company’s stock worth $46,255,000 after buying an additional 2,269,237 shares in the last quarter. Finally, Oasis Management Co Ltd. grew its position in Hut 8 by 231.5% during the fourth quarter. Oasis Management Co Ltd. now owns 2,307,683 shares of the company’s stock worth $106,015,000 after buying an additional 1,611,653 shares in the last quarter. Institutional investors and hedge funds own 31.75% of the company’s stock.

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.