Hut 8 (NASDAQ:HUT) Director Amy Marie Wilkinson Sells 20,000 Shares

Hut 8 Corp. (NASDAQ:HUT) Director Amy Marie Wilkinson sold 20,000 shares of Hut 8 stock in a transaction 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 of the company’s stock, valued at $26,418,066.08. This represents a 7.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hut 8 Trading Up 6.3%

NASDAQ HUT traded up $6.64 during mid-day trading on Tuesday, reaching $112.54. 5,044,795 shares of the stock were exchanged, compared to its average volume of 5,075,989. Hut 8 Corp. has a one year low of $14.74 and a one year high of $116.45. The stock has a 50 day simple moving average of $74.31 and a 200-day simple moving average of $58.33. The stock has a market cap of $12.67 billion, a P/E ratio of -37.51 and a beta of 4.48. 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 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 for the quarter, compared to the consensus estimate of $78.53 million. On average, analysts anticipate that Hut 8 Corp. will post -1.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Roth Mkm reissued a “buy” rating and set a $80.00 target price on shares of Hut 8 in a research note on Tuesday, January 27th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research note on Thursday, February 26th. Canaccord Genuity Group lifted their price target on shares of Hut 8 from $70.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Compass Point set a $130.00 price target on shares of Hut 8 in a research note on Wednesday, May 13th. Finally, Citizens Jmp lifted their price target on shares of Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a research note on Thursday, May 7th. Seventeen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Hut 8 currently has a consensus rating of “Moderate Buy” and an average target price of $107.72.

Institutional Investors Weigh In On Hut 8

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harvest Portfolios Group Inc. increased its stake in Hut 8 by 75.3% in the third quarter. Harvest Portfolios Group Inc. now owns 85,093 shares of the company’s stock valued at $2,962,000 after purchasing an additional 36,543 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Hut 8 by 26.6% during the third quarter. Y Intercept Hong Kong Ltd now owns 131,110 shares of the company’s stock worth $4,564,000 after acquiring an additional 27,568 shares in the last quarter. Zweig DiMenna Associates LLC increased its position in shares of Hut 8 by 256.5% during the third quarter. Zweig DiMenna Associates LLC now owns 707,000 shares of the company’s stock worth $24,611,000 after acquiring an additional 508,700 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Hut 8 by 4,669,387.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after acquiring an additional 4,062,367 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Hut 8 during the 3rd quarter valued at about $1,385,000. 31.75% of the stock is owned by institutional investors.

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.