Insider Selling: Hut 8 (NASDAQ:HUT) Director Sells $1,732,080.00 in Stock

Hut 8 Corp. (NASDAQ:HUT) Director Rick Rickertsen sold 16,496 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $105.00, for a total transaction of $1,732,080.00. Following the completion of the transaction, the director directly owned 17,491 shares of the company’s stock, valued at $1,836,555. This represents a 48.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Rick Rickertsen also recently made the following trade(s):

• On Wednesday, May 13th, Rick Rickertsen sold 17,491 shares of Hut 8 stock. The stock was sold at an average price of $110.00, for a total transaction of $1,924,010.00.

Hut 8 Trading Down 6.3%

Hut 8 stock opened at $102.47 on Friday. The company has a 50 day moving average price of $66.88 and a 200 day moving average price of $55.72. Hut 8 Corp. has a 52 week low of $14.74 and a 52 week high of $112.26. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of -34.16 and a beta of 4.48.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings data 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 return on equity of 0.35% and a negative net margin of 109.77%.The firm had revenue of $139.31 million during the quarter, compared to analyst estimates of $78.53 million. Research analysts forecast that Hut 8 Corp. will post -2.34 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Northland Securities set a $120.00 price objective on shares of Hut 8 in a research note on Thursday, May 7th. Citizens Jmp raised their price objective on shares of Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research note on Thursday, May 7th. BTIG Research raised their price objective on shares of Hut 8 from $90.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods raised their price objective on shares of Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a research note on Tuesday, January 27th. Finally, Needham & Company LLC lifted their target price on shares of Hut 8 from $88.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.72.

Institutional Trading of Hut 8

Several hedge funds and other institutional investors have recently bought and sold shares of HUT. GAMMA Investing LLC acquired a new stake in Hut 8 in the 4th quarter worth $30,000. Imprint Wealth LLC acquired a new stake in Hut 8 in the 4th quarter worth $38,000. Russell Investments Group Ltd. grew its position in Hut 8 by 235.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after purchasing an additional 1,719 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in Hut 8 in the 1st quarter worth $47,000. Finally, Activest Wealth Management acquired a new stake in Hut 8 in the 4th quarter worth $49,000. 31.75% of the stock is currently owned by institutional investors and hedge funds.

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.