Hut 8 (NASDAQ:HUT) CFO Sells $226,856.25 in Stock

Hut 8 Corp. (NASDAQ:HUT) CFO Sean Joseph Glennan sold 4,625 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $49.05, for a total transaction of $226,856.25. Following the transaction, the chief financial officer directly owned 12,068 shares of the company’s stock, valued at $591,935.40. The trade was a 27.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hut 8 Price Performance

Shares of Hut 8 stock opened at $48.54 on Friday. The firm has a market cap of $5.38 billion, a P/E ratio of -20.92 and a beta of 4.42. The firm’s 50-day simple moving average is $55.30 and its 200-day simple moving average is $45.62. Hut 8 Corp. has a twelve month low of $10.04 and a twelve month high of $66.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.09 and a current ratio of 1.09.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. lifted its holdings in Hut 8 by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the company’s stock worth $30,000 after buying an additional 655 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Hut 8 in the 4th quarter valued at $30,000. Imprint Wealth LLC bought a new stake in shares of Hut 8 during the fourth quarter worth $38,000. Russell Investments Group Ltd. raised its position in shares of 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 acquiring an additional 1,719 shares during the last quarter. Finally, Activest Wealth Management acquired a new position in shares of Hut 8 during the fourth quarter valued at $49,000. Institutional investors own 31.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HUT shares. Needham & Company LLC lifted their price objective on Hut 8 from $60.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, February 26th. BTIG Research reissued a “buy” rating and issued a $55.00 target price on shares of Hut 8 in a report on Wednesday, December 17th. Craig Hallum restated a “buy” rating and set a $80.00 target price on shares of Hut 8 in a research report on Thursday, December 18th. HC Wainwright reaffirmed a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research note on Thursday, February 26th. Finally, B. Riley Financial increased their price objective on Hut 8 from $61.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Hut 8 presently has an average rating of “Moderate Buy” and an average target price 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.