Hut 8 (NASDAQ:HUT) CFO Sean Joseph Glennan Sells 4,625 Shares

Hut 8 Corp. (NASDAQ:HUT) CFO Sean Joseph Glennan sold 4,625 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $49.05, for a total value of $226,856.25. Following the transaction, the chief financial officer owned 12,068 shares of the company’s stock, valued at $591,935.40. This trade represents a 27.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hut 8 Trading Up 0.9%

HUT opened at $49.18 on Wednesday. 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 stock’s 50 day moving average price is $55.14 and its 200-day moving average price is $45.56. Hut 8 Corp. has a one year low of $10.04 and a one year high of $66.07. The stock has a market cap of $5.45 billion, a price-to-earnings ratio of -21.20 and a beta of 4.42.

Institutional Investors Weigh In On Hut 8

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

Wall Street Analysts Forecast Growth

HUT has been the topic of a number of recent analyst reports. Needham & Company LLC increased their target price on Hut 8 from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Rosenblatt Securities reissued a “buy” rating and set a $65.00 target price on shares of Hut 8 in a research note on Thursday, February 26th. Piper Sandler restated an “overweight” rating on shares of Hut 8 in a report on Thursday, December 18th. Craig Hallum reaffirmed a “buy” rating and issued a $80.00 price target on shares of Hut 8 in a research note on Thursday, December 18th. Finally, Wall Street Zen lowered shares of Hut 8 from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.56.

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.