Amy Marie Wilkinson Sells 20,000 Shares of Hut 8 (NASDAQ:HUT) Stock

Hut 8 Corp. (NASDAQ:HUT) Director Amy Marie Wilkinson sold 20,000 shares of Hut 8 stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the completion of the sale, the director owned 262,136 shares in the company, valued at approximately $26,418,066.08. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hut 8 Trading Up 4.5%

Shares of NASDAQ:HUT opened at $117.64 on Thursday. The company has a market cap of $13.25 billion, a PE ratio of -39.21 and a beta of 4.48. The company’s 50-day moving average price is $75.64 and its 200 day moving average price is $58.85. Hut 8 Corp. has a fifty-two week low of $14.74 and a fifty-two week high of $119.61. 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 (NASDAQ:HUT) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) earnings per share 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 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%. Sell-side analysts anticipate that Hut 8 Corp. will post -1.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HUT shares. Piper Sandler lifted their price objective on shares of Hut 8 from $93.00 to $127.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. HC Wainwright restated a “buy” rating and set a $80.00 price target on shares of Hut 8 in a research report on Thursday, February 26th. Cantor Fitzgerald boosted their price target on shares of Hut 8 from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. Northland Securities set a $120.00 price target on shares of Hut 8 in a research report on Thursday, May 7th. Finally, Needham & Company LLC boosted their price target on shares of Hut 8 from $88.00 to $128.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Seventeen analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.72.

Institutional Trading of Hut 8

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new position in shares of Hut 8 in the 4th quarter worth approximately $30,000. Imprint Wealth LLC acquired a new position in shares of Hut 8 in the 4th quarter worth approximately $38,000. Russell Investments Group Ltd. grew its stake in shares of Hut 8 by 235.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after purchasing an additional 1,719 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of Hut 8 in the 1st quarter worth approximately $47,000. Finally, Activest Wealth Management acquired a new position in shares of Hut 8 in the 4th quarter worth approximately $49,000. 31.75% of the stock is currently owned by institutional investors.

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.