Hut 8 (NASDAQ:HUT) Director Joseph Flinn Sells 30,500 Shares

Hut 8 Corp. (NASDAQ:HUT) Director Joseph Flinn sold 30,500 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the sale, the director directly owned 18,238 shares of the company’s stock, valued at approximately $2,119,437.98. This trade represents a 62.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 Friday, June 12th, Joseph Flinn sold 7,719 shares of Hut 8 stock. The stock was sold at an average price of $117.91, for a total value of $910,147.29.

Hut 8 Stock Up 1.1%

NASDAQ HUT traded up $1.32 on Monday, reaching $120.18. The company had a trading volume of 3,638,549 shares, compared to its average volume of 3,978,575. The firm has a market capitalization of $13.53 billion, a PE ratio of -40.06 and a beta of 4.61. The firm has a 50-day moving average of $94.34 and a 200-day moving average of $66.37. Hut 8 Corp. has a 1 year low of $15.26 and a 1 year high of $140.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.86 and a quick ratio of 0.86.

Hut 8 (NASDAQ:HUT) last announced its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The firm had revenue of $139.31 million during the quarter, compared to analysts’ expectations of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. On average, equities research analysts anticipate that Hut 8 Corp. will post -1.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Hut 8

Several large investors have recently added to or reduced their stakes in HUT. GAMMA Investing LLC bought a new position in Hut 8 during the fourth quarter worth $30,000. Imprint Wealth LLC bought a new position in Hut 8 during the fourth quarter worth $38,000. Harbor Investment Advisory LLC bought a new position in Hut 8 during the first quarter worth $47,000. Activest Wealth Management bought a new position in Hut 8 during the fourth quarter worth $49,000. Finally, Danske Bank A S bought a new position in Hut 8 during the fourth quarter worth $51,000. 31.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Needham & Company LLC upped their target price on shares of Hut 8 from $88.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. HC Wainwright restated a “buy” rating and issued a $80.00 target price on shares of Hut 8 in a research note on Thursday, February 26th. Weiss Ratings downgraded shares of Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Piper Sandler upped their target price on shares of Hut 8 from $93.00 to $127.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Finally, Arete Research assumed coverage on shares of Hut 8 in a research note on Monday, March 23rd. They issued a “buy” rating and a $136.00 target price for the company. Seventeen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.72.

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.