Hut 8 (NASDAQ:HUT) Insider Victor Semah Sells 5,498 Shares of Stock

Hut 8 Corp. (NASDAQ:HUT) insider Victor Semah sold 5,498 shares of Hut 8 stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total value of $269,676.90. Following the sale, the insider directly owned 24,796 shares of the company’s stock, valued at approximately $1,216,243.80. This trade represents a 18.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hut 8 Trading Up 0.9%

NASDAQ HUT opened at $49.18 on Wednesday. Hut 8 Corp. has a 12 month low of $10.04 and a 12 month high of $66.07. The stock has a 50-day simple moving average of $55.14 and a 200 day simple moving average of $45.56. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $5.45 billion, a PE ratio of -21.20 and a beta of 4.42.

Wall Street Analyst Weigh In

HUT has been the topic of a number of analyst reports. Keefe, Bruyette & Woods increased their price target on shares of Hut 8 from $55.00 to $75.00 and gave the company a “moderate buy” rating in a research report on Tuesday, January 27th. Craig Hallum reiterated a “buy” rating and issued a $80.00 target price on shares of Hut 8 in a report on Thursday, December 18th. Benchmark reissued a “buy” rating on shares of Hut 8 in a report on Wednesday, December 17th. Piper Sandler reaffirmed an “overweight” rating on shares of Hut 8 in a research note on Thursday, December 18th. Finally, Needham & Company LLC boosted their target price on Hut 8 from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.56.

Institutional Trading of Hut 8

A number of institutional investors have recently modified their holdings of HUT. GAMMA Investing LLC acquired a new stake in Hut 8 in the 4th quarter valued at approximately $30,000. Imprint Wealth LLC acquired a new position in Hut 8 during the 4th quarter worth approximately $38,000. Activest Wealth Management bought a new position in shares of Hut 8 during the 4th quarter worth approximately $49,000. Danske Bank A S acquired a new stake in shares of Hut 8 in the fourth quarter valued at approximately $51,000. Finally, CWM LLC lifted its position in shares of Hut 8 by 37.4% in the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after purchasing an additional 301 shares in the last quarter. 31.75% of the stock is currently owned by 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.