Hut 8 (NASDAQ:HUT) Insider Victor Semah Sells 10,000 Shares

Hut 8 Corp. (NASDAQ:HUT) insider Victor Semah sold 10,000 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. Following the completion of the transaction, the insider owned 31,378 shares in the company, valued at $3,922,250. This represents a 24.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Victor Semah also recently made the following trade(s):

• On Monday, May 4th, Victor Semah sold 10,518 shares of Hut 8 stock. The stock was sold at an average price of $76.83, for a total transaction of $808,097.94.

Hut 8 Stock Performance

HUT stock opened at $124.44 on Friday. The firm has a 50 day moving average of $98.63 and a two-hundred day moving average of $68.02. Hut 8 Corp. has a 12 month low of $15.26 and a 12 month high of $140.80. The company has a market capitalization of $14.01 billion, a price-to-earnings ratio of -41.48 and a beta of 4.61. 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 released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. The business had revenue of $139.31 million for the quarter, compared to the consensus estimate of $78.53 million. As a group, equities analysts anticipate that Hut 8 Corp. will post -1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Hut 8

A number of institutional investors have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA grew its position in Hut 8 by 30.1% in the first quarter. Glenmede Trust Co. NA now owns 21,161 shares of the company’s stock valued at $993,000 after acquiring an additional 4,896 shares during the period. Dayah Capital LLC grew its holdings in Hut 8 by 12.6% during the 1st quarter. Dayah Capital LLC now owns 217,920 shares of the company’s stock worth $10,223,000 after acquiring an additional 24,456 shares during the last quarter. Amundi raised its position in Hut 8 by 26.4% in the 1st quarter. Amundi now owns 8,187 shares of the company’s stock worth $384,000 after purchasing an additional 1,712 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Hut 8 by 21.7% in the first quarter. California State Teachers Retirement System now owns 114,909 shares of the company’s stock valued at $5,390,000 after acquiring an additional 20,469 shares during the last quarter. Finally, Engle Capital Management L.P. bought a new stake in Hut 8 during the 1st quarter worth about $7,027,000. 31.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HUT has been the topic of a number of research analyst reports. BTIG Research raised their target price on shares of Hut 8 from $90.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Jefferies Financial Group began coverage on shares of Hut 8 in a report on Thursday, May 14th. They set a “buy” rating and a $156.00 price target for the company. Citizens Jmp raised their price target on Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a research report on Thursday, May 7th. Arete Research initiated coverage on Hut 8 in a research note on Monday, March 23rd. They set a “buy” rating and a $136.00 target price for the company. Finally, HC Wainwright reissued a “buy” rating and issued a $80.00 price objective on shares of Hut 8 in a research report on Thursday, February 26th. Seventeen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $107.72.

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.