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

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

Hut 8 Stock Performance

Shares of Hut 8 stock opened at $121.48 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $13.68 billion, a P/E ratio of -40.49 and a beta of 4.61. The business has a fifty day simple moving average of $95.81 and a two-hundred day simple moving average of $66.92. Hut 8 Corp. has a 12 month low of $15.26 and a 12 month high of $140.80.

Hut 8 (NASDAQ:HUT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($1.98) EPS for the quarter, missing the consensus estimate of ($0.33) by ($1.65). The firm had revenue of $139.31 million for the quarter, compared to analysts’ expectations of $78.53 million. Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. On average, equities analysts forecast that Hut 8 Corp. will post -1.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HUT has been the subject of several recent research reports. Rosenblatt Securities reissued a “buy” rating and set a $124.00 price objective on shares of Hut 8 in a research report on Thursday, June 11th. Canaccord Genuity Group raised their price objective on Hut 8 from $70.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Cantor Fitzgerald lifted their price target on Hut 8 from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, April 9th. BTIG Research lifted their price target on Hut 8 from $90.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Piper Sandler lifted their price target on Hut 8 from $93.00 to $127.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. 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 company presently has an average rating of “Moderate Buy” and an average target price of $107.72.

Institutional Investors Weigh In On Hut 8

A number of large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its stake 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 valued at $734,000 after purchasing an additional 254 shares during the period. CWM LLC grew its stake in shares of Hut 8 by 37.4% during the 4th quarter. CWM LLC now owns 1,106 shares of the company’s stock valued at $51,000 after purchasing an additional 301 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Hut 8 by 3.5% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 9,500 shares of the company’s stock valued at $331,000 after purchasing an additional 321 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Hut 8 by 1.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,685 shares of the company’s stock valued at $996,000 after purchasing an additional 362 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of Hut 8 by 4.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 8,992 shares of the company’s stock valued at $413,000 after purchasing an additional 388 shares during the period. 31.75% of the stock is currently owned by institutional investors.

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.