Joseph Flinn Sells 7,719 Shares of Hut 8 (NASDAQ:HUT) Stock

Hut 8 Corp. (NASDAQ:HUT) Director Joseph Flinn sold 7,719 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $117.91, for a total value of $910,147.29. Following the sale, the director directly owned 10,519 shares in the company, valued at approximately $1,240,295.29. This represents a 42.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 Thursday, June 11th, Joseph Flinn sold 30,500 shares of Hut 8 stock. The stock was sold at an average price of $116.21, for a total value of $3,544,405.00.

Hut 8 Stock Up 1.1%

Shares of NASDAQ HUT traded up $1.32 during mid-day trading on Monday, reaching $120.18. 3,638,549 shares of the company’s stock were exchanged, compared to its average volume of 3,978,575. The firm has a market capitalization of $13.53 billion, a price-to-earnings ratio of -40.06 and a beta of 4.61. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The business has a fifty day simple moving average of $94.34 and a 200 day simple moving average of $66.37. Hut 8 Corp. has a twelve month low of $15.26 and a twelve month high of $140.80.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Rosenblatt Securities reiterated a “buy” rating and set a $124.00 price objective on shares of Hut 8 in a report on Thursday. Piper Sandler increased their price objective on Hut 8 from $93.00 to $127.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Northland Securities set a $120.00 price objective on Hut 8 in a report on Thursday, May 7th. Compass Point set a $130.00 price objective on Hut 8 in a report on Wednesday, May 13th. Finally, Citigroup reiterated an “outperform” rating on shares of Hut 8 in a report on Tuesday, April 28th. Seventeen equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Hut 8 has a consensus rating of “Moderate Buy” and a consensus target price of $107.72.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC bought a new position in shares of Hut 8 during the 4th quarter worth approximately $30,000. Imprint Wealth LLC bought a new position in shares of Hut 8 during the 4th quarter worth approximately $38,000. Russell Investments Group Ltd. lifted its holdings in 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 purchasing an additional 1,719 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in Hut 8 during the 1st quarter worth approximately $47,000. Finally, Activest Wealth Management acquired a new stake in Hut 8 during the 4th quarter worth approximately $49,000. 31.75% of the stock is currently 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.