Victor Semah Sells 5,498 Shares of Hut 8 (NASDAQ:HUT) Stock

Hut 8 Corp. (NASDAQ:HUT) insider Victor Semah sold 5,498 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $269,676.90. Following the transaction, the insider owned 24,796 shares in the company, valued at approximately $1,216,243.80. This trade represents a 18.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hut 8 Stock Performance

HUT opened at $51.12 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $5.67 billion, a PE ratio of -22.03 and a beta of 4.42. The stock has a 50-day moving average of $55.25 and a 200-day moving average of $45.60. Hut 8 Corp. has a 52-week low of $10.04 and a 52-week high of $66.07.

Institutional Trading of Hut 8

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its position in Hut 8 by 1.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 15,969 shares of the company’s stock worth $734,000 after purchasing an additional 254 shares during the last quarter. CWM LLC grew its position in Hut 8 by 37.4% during the fourth quarter. CWM LLC now owns 1,106 shares of the company’s stock worth $51,000 after buying an additional 301 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Hut 8 by 3.5% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock valued at $331,000 after acquiring an additional 321 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Hut 8 by 1.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock valued at $996,000 after acquiring an additional 362 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Hut 8 by 4.5% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company’s stock worth $413,000 after acquiring an additional 388 shares during the period. 31.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HUT has been the topic of a number of recent analyst reports. Craig Hallum reissued a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research report on Thursday, December 18th. Keefe, Bruyette & Woods upped their price objective on shares of Hut 8 from $55.00 to $75.00 and gave the stock a “moderate buy” rating in a report on Tuesday, January 27th. Weiss Ratings downgraded shares of Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, March 2nd. Piper Sandler restated an “overweight” rating on shares of Hut 8 in a report on Thursday, December 18th. Finally, Wall Street Zen downgraded Hut 8 from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.56.

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.