Key Points
- Director Amy Marie Wilkinson sold 20,000 Hut 8 shares on May 21 at an average price of $100.78, totaling about $2.02 million. The sale reduced her holdings by 7.09%.
- Hut 8 reported mixed quarterly results, with EPS of -$1.98, much worse than the consensus estimate of -$0.33, but revenue of $139.31 million, well above expectations of $78.53 million.
- Wall Street remains broadly bullish on HUT, with 17 analysts rating it Buy and a consensus Moderate Buy target of $107.72. Recent target hikes included Rosenblatt to $124 and Jefferies initiating coverage with a $156 target.
Hut 8 Corp. (NASDAQ:HUT - Get Free Report) Director Amy Marie Wilkinson sold 20,000 shares of the business's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $100.78, for a total value of $2,015,600.00. Following the completion of the transaction, the director owned 262,136 shares in the company, valued at $26,418,066.08. This trade represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Hut 8 Stock Performance
Shares of HUT stock opened at $112.54 on Wednesday. The stock has a market capitalization of $12.67 billion, a PE ratio of -37.51 and a beta of 4.48. Hut 8 Corp. has a 52-week low of $14.74 and a 52-week high of $116.45. The stock's 50-day moving average price is $74.31 and its 200 day moving average price is $58.33. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The company had revenue of $139.31 million during the quarter, compared to analyst estimates of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. As a group, equities research analysts forecast that Hut 8 Corp. will post -1.29 EPS for the current year.
Analyst Ratings Changes
Several research firms have issued reports on HUT. Rosenblatt Securities boosted 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. Citigroup reiterated an "outperform" rating on shares of Hut 8 in a research report on Tuesday, April 28th. Cantor Fitzgerald boosted 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. Weiss Ratings cut Hut 8 from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. Finally, Jefferies Financial Group began coverage on Hut 8 in a research report on Thursday, May 14th. They set a "buy" rating and a $156.00 target price on the stock. Seventeen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $107.72.
View Our Latest Stock Report on HUT
Institutional Investors Weigh In On Hut 8
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Hut 8 by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company's stock worth $366,526,000 after acquiring an additional 250,320 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Hut 8 by 4,669,387.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company's stock worth $186,629,000 after acquiring an additional 4,062,367 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Hut 8 by 20.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company's stock worth $104,133,000 after acquiring an additional 504,652 shares in the last quarter. SRS Investment Management LLC purchased a new stake in shares of Hut 8 during the 4th quarter worth approximately $131,838,000. Finally, Sachem Head Capital Management LP purchased a new stake in shares of Hut 8 during the 4th quarter worth approximately $129,780,000. Hedge funds and other institutional investors own 31.75% of the company's stock.
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.
Further Reading
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