14,368 Shares in Hut 8 Corp. $HUT Bought by Dupree Financial Group LLC

Dupree Financial Group LLC purchased a new stake in Hut 8 Corp. (NASDAQ:HUT) in the first quarter, HoldingsChannel.com reports. The fund purchased 14,368 shares of the company’s stock, valued at approximately $674,000.

A number of other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC bought a new position in Hut 8 in the 4th quarter valued at about $30,000. Imprint Wealth LLC acquired a new position in shares of Hut 8 in the 4th quarter valued at approximately $38,000. Russell Investments Group Ltd. lifted 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 worth $46,000 after acquiring an additional 1,719 shares during the period. Activest Wealth Management bought a new stake in shares of Hut 8 during the 4th quarter worth approximately $49,000. Finally, Danske Bank A S acquired a new stake in shares of Hut 8 during the 4th quarter worth approximately $51,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Stock Performance

Shares of Hut 8 stock opened at $123.02 on Monday. The firm’s 50 day moving average is $105.01 and its 200 day moving average is $71.35. The firm has a market capitalization of $13.85 billion, a PE ratio of -41.01 and a beta of 4.61. Hut 8 Corp. has a 1 year low of $17.42 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) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) EPS 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 firm had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. Equities research analysts forecast that Hut 8 Corp. will post -1.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hut 8 news, Director Amy Marie Wilkinson sold 20,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $100.78, for a total transaction of $2,015,600.00. Following the transaction, the director directly owned 262,136 shares in the company, valued at approximately $26,418,066.08. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Flinn sold 7,719 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $117.91, for a total value of $910,147.29. Following the transaction, the director owned 10,519 shares in the company, valued at $1,240,295.29. The trade was a 42.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 112,724 shares of company stock valued at $12,184,340. 10.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

HUT has been the topic of a number of recent analyst reports. B. Riley Financial lifted their price objective on shares of Hut 8 from $76.00 to $130.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Needham & Company LLC upped their target price on Hut 8 from $88.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Citizens Jmp raised their target price on Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a report on Thursday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $124.00 target price on shares of Hut 8 in a report on Thursday, June 11th. Finally, Piper Sandler lifted their price target on Hut 8 from $93.00 to $127.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Seventeen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Hut 8 presently has a consensus rating of “Moderate Buy” and an average target price of $115.79.

About Hut 8

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.