Hut 8 (NASDAQ:HUT) Insider Victor Semah Sells 10,000 Shares

Hut 8 Corp. (NASDAQ:HUT) insider Victor Semah sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total value of $1,250,000.00. Following the completion of the sale, the insider owned 31,378 shares of the company’s stock, valued at $3,922,250. This trade represents a 24.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Victor Semah also recently made the following trade(s):

• On Monday, May 4th, Victor Semah sold 10,518 shares of Hut 8 stock. The shares were sold at an average price of $76.83, for a total value of $808,097.94.

Hut 8 Price Performance

Shares of HUT stock traded up $5.56 during mid-day trading on Thursday, hitting $124.44. 4,295,515 shares of the stock traded hands, compared to its average volume of 3,825,329. Hut 8 Corp. has a twelve month low of $15.26 and a twelve month high of $140.80. The firm has a market cap of $14.01 billion, a price-to-earnings ratio of -41.48 and a beta of 4.61. The company’s 50-day simple moving average is $98.63 and its 200-day simple moving average is $68.02. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86.

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 the consensus estimate of $78.53 million. As a group, equities research analysts expect that Hut 8 Corp. will post -1.29 earnings per share for the current year.

Hedge Funds Weigh In On Hut 8

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Hut 8 by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 7,978,357 shares of the company’s stock worth $366,526,000 after buying an additional 250,320 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings 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 valued at $186,629,000 after acquiring an additional 4,062,367 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Hut 8 by 20.3% during the third quarter. Ameriprise Financial Inc. now owns 2,991,466 shares of the company’s stock valued at $104,133,000 after acquiring an additional 504,652 shares during the period. SRS Investment Management LLC purchased a new stake in shares of Hut 8 in the 4th quarter valued at approximately $131,838,000. Finally, Sachem Head Capital Management LP purchased a new stake in shares of Hut 8 in the 4th quarter valued at approximately $129,780,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HUT. Needham & Company LLC raised their price objective on shares of Hut 8 from $88.00 to $128.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Northland Securities set a $120.00 target price on shares of Hut 8 in a report on Thursday, May 7th. Citigroup reissued an “outperform” rating on shares of Hut 8 in a research note on Tuesday, April 28th. Arete Research assumed coverage on shares of Hut 8 in a report on Monday, March 23rd. They set a “buy” rating and a $136.00 target price for the company. Finally, Citizens Jmp lifted their price target on shares of Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 7th. Seventeen investment 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.72.

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.