Hut 8 (NASDAQ:HUT) Insider Sells $808,097.94 in Stock

Key Points

• Victor Semah sold 10,518 Hut 8 shares on May 4 at an average price of $76.83 for a total of $808,097.94, reducing his stake by 20.27% to 41,378 shares (disclosed on an SEC Form 4).
• The transaction was executed under a pre-arranged Rule 10b5-1 trading plan and was made to cover tax withholding obligations related to the vesting of equity awards.
• Hut 8 stock traded up to $78.08, and analysts are broadly positive with a consensus rating of “Moderate Buy” (16 Buys, 1 Sell) and a consensus price target of $76.38, with several firms raising targets into the $80–$93 range.

Hut 8 Corp. (NASDAQ:HUT - Get Free Report) insider Victor Semah sold 10,518 shares of the company's stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $76.83, for a total value of $808,097.94. Following the sale, the insider owned 41,378 shares in the company, valued at approximately $3,179,071.74. This trade represents a 20.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, March 10th, Victor Semah sold 5,498 shares of Hut 8 stock. The stock was sold at an average price of $49.05, for a total value of $269,676.90.

Hut 8 Trading Up 1.4%

Shares of NASDAQ HUT traded up $1.10 during trading hours on Monday, hitting $78.08. 3,032,447 shares of the company traded hands, compared to its average volume of 4,799,491. The company's 50 day moving average price is $58.21 and its 200 day moving average price is $52.29. Hut 8 Corp. has a 12 month low of $12.23 and a 12 month high of $83.18. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of -33.66 and a beta of 4.48. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.12.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HUT. HC Wainwright reissued a "buy" rating and issued a $80.00 target price on shares of Hut 8 in a research note on Thursday, February 26th. B. Riley Financial lifted their price target on shares of Hut 8 from $61.00 to $76.00 and gave the stock a "buy" rating in a research note on Friday, January 9th. Rosenblatt Securities reiterated a "buy" rating and set a $65.00 price target on shares of Hut 8 in a report on Thursday, February 26th. BTIG Research raised their price objective on shares of Hut 8 from $55.00 to $90.00 and gave the stock a "buy" rating in a research note on Friday, April 24th. Finally, Piper Sandler boosted their target price on Hut 8 from $74.00 to $93.00 and gave the company an "overweight" rating in a research report on Tuesday, April 21st. Sixteen investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $76.38.

Institutional Investors Weigh In On Hut 8

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new position in Hut 8 in the 4th quarter worth about $30,000. Imprint Wealth LLC bought a new stake in shares of Hut 8 during the fourth quarter valued at approximately $38,000. Harbor Investment Advisory LLC purchased a new stake in shares of Hut 8 in the first quarter valued at approximately $47,000. Activest Wealth Management purchased a new stake in shares of Hut 8 in the fourth quarter valued at approximately $49,000. Finally, Danske Bank A S bought a new position in Hut 8 in the fourth quarter worth approximately $51,000. Institutional investors own 31.75% of the company's stock.

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.

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