Insider Selling: Hut 8 (NASDAQ:HUT) Director Sells $910,147.29 in Stock

Hut 8 Corp. (NASDAQ:HUT) Director Joseph Flinn sold 7,719 shares of Hut 8 stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $117.91, for a total value of $910,147.29. Following the completion of the transaction, the director owned 10,519 shares in the company, valued at approximately $1,240,295.29. This represents a 42.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Joseph Flinn also recently made the following trade(s):

• On Thursday, June 11th, Joseph Flinn sold 30,500 shares of Hut 8 stock. The stock was sold at an average price of $116.21, for a total value of $3,544,405.00.

Hut 8 Stock Down 2.1%

HUT opened at $118.88 on Thursday. The company has a market cap of $13.38 billion, a P/E ratio of -39.63 and a beta of 4.61. The business’s 50-day moving average price is $97.20 and its 200-day moving average price is $67.46. 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) earnings per share (EPS) 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 analysts’ expectations of $78.53 million. On average, equities analysts expect that Hut 8 Corp. will post -1.29 EPS for the current year.

Institutional Trading of Hut 8

A number of hedge funds have recently made changes to their positions in the stock. Glenmede Trust Co. NA boosted its position in shares of Hut 8 by 30.1% in the 1st quarter. Glenmede Trust Co. NA now owns 21,161 shares of the company’s stock worth $993,000 after purchasing an additional 4,896 shares in the last quarter. Dayah Capital LLC boosted its position in shares of Hut 8 by 12.6% in the 1st quarter. Dayah Capital LLC now owns 217,920 shares of the company’s stock worth $10,223,000 after purchasing an additional 24,456 shares in the last quarter. Amundi boosted its position in shares of 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 in the last quarter. California State Teachers Retirement System boosted its position in shares of Hut 8 by 21.7% in the 1st quarter. California State Teachers Retirement System now owns 114,909 shares of the company’s stock worth $5,390,000 after purchasing an additional 20,469 shares in the last quarter. Finally, Engle Capital Management L.P. purchased a new position in Hut 8 in the 1st quarter worth approximately $7,027,000. 31.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on HUT. Rosenblatt Securities restated a “buy” rating and set a $124.00 price target on shares of Hut 8 in a report on Thursday, June 11th. Piper Sandler lifted their price objective on Hut 8 from $93.00 to $127.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Compass Point set a $130.00 price objective on Hut 8 in a research report on Wednesday, May 13th. Arete Research began coverage on Hut 8 in a research report on Monday, March 23rd. They set a “buy” rating and a $136.00 price objective on the stock. Finally, B. Riley Financial lifted their price objective on Hut 8 from $76.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Seventeen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.