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

Hut 8 Corp. (NASDAQ:HUT) Director Joseph Flinn sold 7,719 shares of Hut 8 stock in a transaction on Friday, June 12th. The shares were sold at an average price of $117.91, for a total transaction of $910,147.29. Following the completion of the transaction, the director owned 10,519 shares in the company, valued at approximately $1,240,295.29. This represents a 42.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 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 shares were sold at an average price of $116.21, for a total transaction of $3,544,405.00.

Hut 8 Trading Up 1.1%

NASDAQ HUT opened at $120.18 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.86 and a current ratio of 0.86. The firm has a market cap of $13.53 billion, a PE ratio of -40.06 and a beta of 4.61. Hut 8 Corp. has a one year low of $15.26 and a one year high of $140.80. The firm’s fifty day moving average is $94.34 and its two-hundred day moving average is $66.37.

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). The business had revenue of $139.31 million during the quarter, compared to analyst estimates of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. Analysts expect that Hut 8 Corp. will post -1.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HUT shares. Rosenblatt Securities reiterated a “buy” rating and set a $124.00 price target on shares of Hut 8 in a research note on Thursday, June 11th. Weiss Ratings lowered shares of Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Jefferies Financial Group started coverage on shares of Hut 8 in a research note on Thursday, May 14th. They set a “buy” rating and a $156.00 price target on the stock. Cantor Fitzgerald boosted their price target on shares of Hut 8 from $68.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday, April 9th. Finally, Citigroup reiterated an “outperform” rating on shares of Hut 8 in a research note on Tuesday, April 28th. Seventeen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.72.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC purchased a new stake in Hut 8 during the fourth quarter worth about $30,000. Imprint Wealth LLC purchased a new stake in Hut 8 during the fourth quarter worth about $38,000. Russell Investments Group Ltd. boosted its holdings in Hut 8 by 235.8% during the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after buying an additional 1,719 shares in the last quarter. Harbor Investment Advisory LLC purchased a new stake in Hut 8 during the first quarter worth about $47,000. Finally, Activest Wealth Management purchased a new stake in Hut 8 during the fourth quarter worth about $49,000. 31.75% of the stock is currently 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.