Hut 8 Corp. (NASDAQ:HUT - Get Free Report) Director Joseph Flinn sold 7,719 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $117.91, for a total transaction of $910,147.29. Following the sale, the director directly 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 filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $3,544,405.00.
Hut 8 Stock Up 1.1%
HUT stock opened at $120.18 on Tuesday. The company has a market cap of $13.53 billion, a P/E ratio of -40.06 and a beta of 4.61. Hut 8 Corp. has a 52 week low of $15.26 and a 52 week high of $140.80. The company's 50-day moving average price is $94.34 and its 200 day moving average price is $66.37. 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 (NASDAQ:HUT - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing analysts' consensus estimates of ($0.33) by ($1.65). The company had revenue of $139.31 million for the quarter, compared to analysts' expectations of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. On average, research analysts expect that Hut 8 Corp. will post -1.29 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several analysts have issued reports on the stock. Citizens Jmp upped their price target on shares of Hut 8 from $100.00 to $140.00 and gave the company a "market outperform" rating in a report on Thursday, May 7th. Wall Street Zen downgraded shares of Hut 8 from a "hold" rating to a "sell" rating in a report on Saturday, February 28th. Northland Securities set a $120.00 price target on shares of Hut 8 in a report on Thursday, May 7th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $124.00 price target on shares of Hut 8 in a report on Thursday, June 11th. Finally, Compass Point set a $130.00 price target on shares of Hut 8 in a report on Wednesday, May 13th. Seventeen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $107.72.
Check Out Our Latest Report on HUT
Hedge Funds Weigh In On Hut 8
Institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in shares of Hut 8 during the fourth quarter valued at approximately $30,000. Imprint Wealth LLC purchased a new position in shares of Hut 8 during the fourth quarter valued at approximately $38,000. Russell Investments Group Ltd. lifted its stake in shares of Hut 8 by 235.8% during the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company's stock valued at $46,000 after buying an additional 1,719 shares during the period. Harbor Investment Advisory LLC purchased a new position in shares of Hut 8 during the first quarter valued at approximately $47,000. Finally, Activest Wealth Management purchased a new position in shares of Hut 8 during the fourth quarter valued at approximately $49,000. 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.
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