Insider Selling: Hut 8 (NASDAQ:HUT) Director Sells $2,015,600.00 in Stock

Hut 8 Corp. (NASDAQ:HUT) Director Amy Marie Wilkinson sold 20,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the completion of the transaction, the director owned 262,136 shares of the company’s stock, valued at approximately $26,418,066.08. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hut 8 Stock Performance

HUT opened at $124.24 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a fifty day moving average price of $77.08 and a 200 day moving average price of $59.41. Hut 8 Corp. has a 1 year low of $14.74 and a 1 year high of $126.26. The stock has a market cap of $13.99 billion, a P/E ratio of -41.41 and a beta of 4.48.

Hut 8 (NASDAQ:HUT) last posted its 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). Hut 8 had a negative return on equity of 0.35% and a negative net margin of 109.77%.The firm had revenue of $139.31 million for the quarter, compared to analysts’ expectations of $78.53 million. Equities research analysts anticipate that Hut 8 Corp. will post -1.29 earnings per share for the current year.

Wall Street Analyst Weigh In

HUT has been the topic of several recent analyst reports. Compass Point set a $130.00 target price on shares of Hut 8 in a research note on Wednesday, May 13th. Piper Sandler increased their target price on shares of Hut 8 from $93.00 to $127.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Rosenblatt Securities increased their target price on shares of Hut 8 from $89.00 to $124.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. B. Riley Financial increased their target price on shares of Hut 8 from $76.00 to $130.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Cantor Fitzgerald increased their target price on shares of Hut 8 from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Seventeen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Hut 8 presently has a consensus rating of “Moderate Buy” and an average target price of $107.72.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA lifted its stake in Hut 8 by 30.1% in the 1st quarter. Glenmede Trust Co. NA now owns 21,161 shares of the company’s stock valued at $993,000 after buying an additional 4,896 shares in the last quarter. Dayah Capital LLC lifted its stake in Hut 8 by 12.6% in the 1st quarter. Dayah Capital LLC now owns 217,920 shares of the company’s stock valued at $10,223,000 after buying an additional 24,456 shares in the last quarter. Amundi lifted its stake in Hut 8 by 26.4% in the 1st quarter. Amundi now owns 8,187 shares of the company’s stock valued at $384,000 after buying an additional 1,712 shares in the last quarter. California State Teachers Retirement System lifted its stake in Hut 8 by 21.7% in the 1st quarter. California State Teachers Retirement System now owns 114,909 shares of the company’s stock valued at $5,390,000 after buying an additional 20,469 shares in the last quarter. Finally, Engle Capital Management L.P. purchased a new position in Hut 8 in the 1st quarter valued at about $7,027,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

Hut 8 Company Profile

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.