Hut 8 (NASDAQ:HUT) CFO Sean Joseph Glennan Sells 6,445 Shares of Stock

Hut 8 Corp. (NASDAQ:HUT) CFO Sean Joseph Glennan sold 6,445 shares of the company’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $78.76, for a total transaction of $507,608.20. Following the completion of the transaction, the chief financial officer owned 17,978 shares in the company, valued at approximately $1,415,947.28. This represents a 26.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Hut 8 Trading Up 7.5%

Shares of NASDAQ:HUT opened at $85.50 on Wednesday. The firm has a fifty day moving average of $101.20 and a two-hundred day moving average of $84.54. The firm has a market capitalization of $10.54 billion, a P/E ratio of -15.69 and a beta of 4.64. Hut 8 Corp. has a 12-month low of $23.03 and a 12-month high of $140.80. The company has a quick ratio of 19.35, a current ratio of 19.35 and a debt-to-equity ratio of 4.22.

Hut 8 (NASDAQ:HUT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.72). Hut 8 had a negative return on equity of 0.97% and a negative net margin of 188.59%.The company had revenue of $72.66 million during the quarter, compared to analyst estimates of $79.37 million. During the same period last year, the company posted $1.18 earnings per share. On average, equities analysts expect that Hut 8 Corp. will post -2.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Freedom Broker raised Hut 8 to a “strong-buy” rating in a research note on Tuesday, August 18th. Loop Capital set a $226.00 price target on Hut 8 in a research note on Monday, June 22nd. Weiss Ratings downgraded Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, August 19th. Compass Point set a $195.00 price objective on shares of Hut 8 in a research report on Wednesday, July 22nd. Finally, Citizens Jmp lifted their target price 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. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $144.89.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Hut 8 in the second quarter valued at about $2,124,000. California State Teachers Retirement System lifted its position in shares of Hut 8 by 11,436.2% during the 2nd quarter. California State Teachers Retirement System now owns 13,256,088 shares of the company’s stock worth $1,530,349,000 after purchasing an additional 13,141,179 shares during the last quarter. AlphaGrep UK Ltd bought a new stake in Hut 8 during the 2nd quarter valued at approximately $248,000. TD Waterhouse Canada Inc. boosted its stake in Hut 8 by 41.6% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,274 shares of the company’s stock valued at $135,000 after purchasing an additional 374 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new stake in Hut 8 in the 2nd quarter valued at approximately $253,000. Institutional investors and hedge funds own 31.75% of the company’s stock.

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.