Victor Semah Sells 10,000 Shares of Hut 8 (NASDAQ:HUT) Stock

Hut 8 Corp. (NASDAQ:HUT) insider Victor Semah sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $125.00, for a total transaction of $1,250,000.00. Following the sale, the insider owned 31,378 shares of the company’s stock, valued at $3,922,250. The trade was a 24.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Victor Semah also recently made the following trade(s):

• On Monday, May 4th, Victor Semah sold 10,518 shares of Hut 8 stock. The shares were sold at an average price of $76.83, for a total value of $808,097.94.

Hut 8 Stock Performance

HUT opened at $124.44 on Friday. The firm has a market cap of $14.01 billion, a PE ratio of -41.48 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. The business has a fifty day simple moving average of $99.89 and a 200-day simple moving average of $68.41. Hut 8 Corp. has a fifty-two week low of $15.26 and a fifty-two week high of $140.80.

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

Institutional Trading of Hut 8

A number of hedge funds have recently made changes to their positions in HUT. Harvest Portfolios Group Inc. boosted its holdings in shares of Hut 8 by 75.3% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 85,093 shares of the company’s stock worth $2,962,000 after buying an additional 36,543 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Hut 8 by 4,669,387.4% in 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. Handelsbanken Fonder AB bought a new position in Hut 8 in the 4th quarter worth $1,153,000. Steadview Capital Management LLC lifted its position in Hut 8 by 1,425.3% during the 4th quarter. Steadview Capital Management LLC now owns 431,655 shares of the company’s stock worth $19,830,000 after acquiring an additional 403,355 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Hut 8 during the 3rd quarter worth $1,385,000. 31.75% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on HUT shares. Wall Street Zen lowered shares of Hut 8 from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. HC Wainwright reissued a “buy” rating and issued a $80.00 target price on shares of Hut 8 in a research report on Thursday, February 26th. Cantor Fitzgerald boosted their price target 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. Compass Point set a $130.00 price target on shares of Hut 8 in a research report on Wednesday, May 13th. Finally, Canaccord Genuity Group raised their price objective on shares of Hut 8 from $70.00 to $130.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Seventeen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.