Hut 8 (NASDAQ:HUT) Director Joseph Flinn Sells 30,500 Shares of Stock

Hut 8 Corp. (NASDAQ:HUT) Director Joseph Flinn sold 30,500 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $116.21, for a total transaction of $3,544,405.00. Following the completion of the transaction, the director directly owned 18,238 shares in the company, valued at approximately $2,119,437.98. This represents a 62.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Friday, June 12th, Joseph Flinn sold 7,719 shares of Hut 8 stock. The shares were sold at an average price of $117.91, for a total transaction of $910,147.29.

Hut 8 Stock Up 1.1%

Hut 8 stock opened at $120.18 on Tuesday. The stock has a market cap of $13.53 billion, a P/E ratio of -40.06 and a beta of 4.61. 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 Corp. has a twelve month low of $15.26 and a twelve month high of $140.80. The company’s 50-day moving average price is $94.34 and its two-hundred day moving average price is $66.37.

Hut 8 (NASDAQ:HUT) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The company had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. As a group, analysts expect that Hut 8 Corp. will post -1.29 EPS for the current year.

Institutional Investors Weigh In On Hut 8

Several institutional investors and hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Hut 8 by 4,669,387.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock worth $186,629,000 after acquiring an additional 4,062,367 shares during the period. SRS Investment Management LLC bought a new stake in shares of Hut 8 during the 4th quarter worth approximately $131,838,000. Sachem Head Capital Management LP bought a new stake in shares of Hut 8 during the 4th quarter worth approximately $129,780,000. Ameriprise Financial Inc. lifted its holdings in shares of Hut 8 by 1,043.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company’s stock worth $46,255,000 after acquiring an additional 2,269,237 shares during the period. Finally, Oasis Management Co Ltd. lifted its holdings in shares of Hut 8 by 231.5% during the 4th quarter. Oasis Management Co Ltd. now owns 2,307,683 shares of the company’s stock worth $106,015,000 after acquiring an additional 1,611,653 shares during the period. Institutional investors own 31.75% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on HUT. Weiss Ratings downgraded shares of Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. B. Riley Financial boosted their price objective on shares of Hut 8 from $76.00 to $130.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. Jefferies Financial Group began coverage on shares of Hut 8 in a report on Thursday, May 14th. They issued a “buy” rating and a $156.00 price objective for the company. Arete Research began coverage on shares of Hut 8 in a report on Monday, March 23rd. They issued a “buy” rating and a $136.00 price objective for the company. Finally, Cantor Fitzgerald boosted their price objective on shares of Hut 8 from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Thursday, April 9th. Seventeen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $107.72.

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.