Key Points
- Hut 8 insider Victor Semah sold 10,000 shares on June 17 for about $1.25 million at an average price of $125 per share, reducing his direct stake by 24.17%.
- Semah also sold 10,518 shares in an earlier transaction on May 4 for roughly $808,098, indicating continued insider selling.
- Despite the insider sales, analysts remain broadly positive on Hut 8, with 17 Buy ratings, one Sell rating, and a consensus Moderate Buy price target of $107.72.
Hut 8 Corp. (NASDAQ:HUT - Get Free Report) insider Victor Semah sold 10,000 shares of the business's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the completion of the transaction, the insider directly owned 31,378 shares of the company's stock, valued at $3,922,250. This trade represents a 24.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Victor Semah also recently made the following trade(s):
- On Monday, May 4th, Victor Semah sold 10,518 shares of Hut 8 stock. The stock was sold at an average price of $76.83, for a total value of $808,097.94.
Hut 8 Price Performance
Shares of NASDAQ HUT opened at $124.44 on Friday. The firm has a market cap of $14.01 billion, a PE ratio of -41.48 and a beta of 4.61. The company has a fifty day moving average price of $98.63 and a 200 day moving average price of $68.02. Hut 8 Corp. has a 1-year low of $15.26 and a 1-year high of $140.80. 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 announced its earnings results on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The business had revenue of $139.31 million for the quarter, compared to analyst estimates of $78.53 million. Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%. Research analysts predict that Hut 8 Corp. will post -1.29 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Hut 8
Large investors have recently made changes to their positions in the business. GAMMA Investing LLC purchased a new position in Hut 8 in the 4th quarter valued at approximately $30,000. Imprint Wealth LLC bought a new stake in shares of Hut 8 during the 4th quarter worth $38,000. Russell Investments Group Ltd. raised its holdings in shares of Hut 8 by 235.8% during the 2nd 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 in the last quarter. Harbor Investment Advisory LLC purchased a new stake in shares of Hut 8 in the 1st quarter valued at $47,000. Finally, Activest Wealth Management bought a new stake in Hut 8 in the fourth quarter valued at approximately $49,000. 31.75% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts recently commented on HUT shares. BTIG Research upped their price target on shares of Hut 8 from $90.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Compass Point set a $130.00 price target on Hut 8 in a research report on Wednesday, May 13th. Weiss Ratings cut Hut 8 from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. Needham & Company LLC raised their target price on shares of Hut 8 from $88.00 to $128.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Finally, Northland Securities set a $120.00 target price on Hut 8 in a research report on Thursday, May 7th. Seventeen investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Hut 8 has a consensus rating of "Moderate Buy" and a consensus price target of $107.72.
View Our Latest Report on Hut 8
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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