Key Points
- Director Rick Rickertsen sold 16,496 Hut 8 shares on May 11 at an average price of $105, totaling about $1.73 million. After the sale, he still held 17,491 shares, cutting his position by 48.54%.
- Hut 8 recently reported weaker-than-expected earnings, posting EPS of -$1.98 versus analysts’ estimate of -$0.33, even though quarterly revenue of $139.31 million came in above expectations.
- Analyst sentiment remains generally positive, with 17 Buy ratings and only one Sell rating. The stock’s consensus price target is $104.88, while several firms recently raised their targets.
Hut 8 Corp. (NASDAQ:HUT - Get Free Report) Director Rick Rickertsen sold 16,496 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $105.00, for a total value of $1,732,080.00. Following the completion of the sale, the director owned 17,491 shares of the company's stock, valued at approximately $1,836,555. This trade represents a 48.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Rick Rickertsen also recently made the following trade(s):
- On Wednesday, May 13th, Rick Rickertsen sold 17,491 shares of Hut 8 stock. The shares were sold at an average price of $110.00, for a total value of $1,924,010.00.
Hut 8 Price Performance
Shares of NASDAQ HUT opened at $108.32 on Thursday. Hut 8 Corp. has a fifty-two week low of $14.74 and a fifty-two week high of $112.26. The business has a 50 day moving average price of $64.68 and a two-hundred day moving average price of $54.96. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12. The firm has a market cap of $12.20 billion, a PE ratio of -36.11 and a beta of 4.48.
Hut 8 (NASDAQ:HUT - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $78.53 million. Sell-side analysts expect that Hut 8 Corp. will post -1.5 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on HUT shares. Wall Street Zen lowered Hut 8 from a "hold" rating to a "sell" rating in a research note on Saturday, February 28th. Rosenblatt Securities lifted their target price on Hut 8 from $89.00 to $124.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Northland Securities set a $120.00 target price on Hut 8 in a research report on Thursday, May 7th. Jefferies Financial Group began coverage on Hut 8 in a research report on Thursday. They issued a "buy" rating for the company. Finally, Cantor Fitzgerald lifted their target price on Hut 8 from $68.00 to $80.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. Seventeen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $104.88.
Get Our Latest Stock Report on Hut 8
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the business. Sei Investments Co. raised its stake in shares of Hut 8 by 73.7% in the 1st quarter. Sei Investments Co. now owns 137,624 shares of the company's stock worth $6,456,000 after buying an additional 58,405 shares in the last quarter. State of Wyoming bought a new stake in shares of Hut 8 in the 1st quarter worth $384,000. Cetera Investment Advisers raised its stake in shares of Hut 8 by 22.1% in the 1st quarter. Cetera Investment Advisers now owns 29,832 shares of the company's stock worth $1,399,000 after buying an additional 5,402 shares in the last quarter. Aureus Asset Management LLC bought a new stake in shares of Hut 8 in the 1st quarter worth $479,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Hut 8 by 27.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,194 shares of the company's stock worth $103,000 after acquiring an additional 474 shares during the last quarter. Institutional investors and hedge funds own 31.75% of the company's stock.
Hut 8 Company Profile
(
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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