Rick Rickertsen Sells 16,496 Shares of Hut 8 (NASDAQ:HUT) Stock

Hut 8 Corp. (NASDAQ:HUT) Director Rick Rickertsen sold 16,496 shares of Hut 8 stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $105.00, for a total value of $1,732,080.00. Following the completion of the transaction, the director owned 17,491 shares in the company, valued at approximately $1,836,555. This represents a 48.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

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

Hut 8 Stock Performance

Hut 8 stock opened at $109.37 on Friday. The business’s 50-day moving average price is $65.92 and its two-hundred day moving average price is $55.39. Hut 8 Corp. has a 12-month low of $14.74 and a 12-month high of $112.26. The stock has a market cap of $12.31 billion, a PE ratio of -36.46 and a beta of 4.48. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.12.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings results 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 net margin of 109.77% and a negative return on equity of 0.35%. The firm had revenue of $139.31 million for the quarter, compared to analyst estimates of $78.53 million. As a group, analysts expect that Hut 8 Corp. will post -1.5 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HUT has been the topic of a number of recent research reports. BTIG Research lifted their price target on Hut 8 from $90.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. HC Wainwright reissued a “buy” rating and set a $80.00 price target on shares of Hut 8 in a research note on Thursday, February 26th. Arete Research initiated coverage on Hut 8 in a research note on Monday, March 23rd. They set a “buy” rating and a $136.00 price target on the stock. Citizens Jmp lifted their price target on Hut 8 from $100.00 to $140.00 and gave the company a “market outperform” rating in a research note on Thursday, May 7th. Finally, Northland Securities set a $120.00 price target on Hut 8 in a research note on Thursday, May 7th. Seventeen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.72.

Hedge Funds Weigh In On Hut 8

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC lifted its stake in shares of Hut 8 by 1.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock worth $734,000 after acquiring an additional 254 shares during the period. CWM LLC increased its holdings in 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. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Hut 8 by 3.5% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock worth $331,000 after purchasing an additional 321 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hut 8 by 1.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock worth $996,000 after purchasing an additional 362 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Hut 8 by 4.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company’s stock worth $413,000 after purchasing an additional 388 shares in the last quarter. 31.75% of the stock is owned by institutional investors and hedge funds.

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.