Key Points
- CFO Sean Joseph Glennan sold 4,625 shares on March 10 at an average price of $49.05 for $226,856.25, reducing his stake by 27.71% to 12,068 shares (about $591,935).
- HUT opened at $49.18 with a market cap of $5.45 billion and a 52‑week range of $10.04–$66.07, and analysts have a consensus Moderate Buy rating with a $65.56 price target.
Hut 8 Corp. (NASDAQ:HUT - Get Free Report) CFO Sean Joseph Glennan sold 4,625 shares of the company's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the completion of the sale, the chief financial officer directly owned 12,068 shares of the company's stock, valued at $591,935.40. The trade was a 27.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Hut 8 Stock Performance
Shares of HUT stock opened at $49.18 on Wednesday. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of -21.20 and a beta of 4.42. Hut 8 Corp. has a 52-week low of $10.04 and a 52-week high of $66.07. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.12. The company's 50 day moving average is $55.14 and its 200 day moving average is $45.56.
Hedge Funds Weigh In On Hut 8
A number of large investors have recently made changes to their positions in HUT. Nisa Investment Advisors LLC lifted its holdings in shares of Hut 8 by 1.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company's stock valued at $734,000 after purchasing an additional 254 shares during the last quarter. CWM LLC grew its stake in Hut 8 by 37.4% during the 4th quarter. CWM LLC now owns 1,106 shares of the company's stock worth $51,000 after buying an additional 301 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Hut 8 by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company's stock worth $331,000 after buying an additional 321 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Hut 8 by 1.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company's stock valued at $996,000 after buying an additional 362 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Hut 8 by 4.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company's stock valued at $413,000 after buying an additional 388 shares during the last quarter. 31.75% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on HUT. Wall Street Zen downgraded Hut 8 from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Roth Mkm restated a "buy" rating and set a $80.00 price objective on shares of Hut 8 in a research note on Tuesday, January 27th. HC Wainwright reaffirmed a "buy" rating and set a $80.00 price objective on shares of Hut 8 in a research report on Thursday, February 26th. Needham & Company LLC lifted their target price on Hut 8 from $60.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, February 26th. Finally, BTIG Research reiterated a "buy" rating and issued a $55.00 target price on shares of Hut 8 in a report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.56.
Check Out Our Latest Report on Hut 8
About Hut 8
(
Get Free Report)
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.
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