Hut 8 Corp. (NASDAQ:HUT – Get Free Report) Director Rick Rickertsen sold 17,491 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total transaction of $1,924,010.00. Following the completion of the sale, the director directly owned 17,491 shares of the company’s stock, valued at $1,924,010. This represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Rick Rickertsen also recently made the following trade(s):
- On Monday, May 11th, Rick Rickertsen sold 16,496 shares of Hut 8 stock. The shares were sold at an average price of $105.00, for a total value of $1,732,080.00.
Hut 8 Trading Up 0.9%
NASDAQ:HUT traded up $1.01 on Wednesday, reaching $108.32. The company’s stock had a trading volume of 4,657,179 shares, compared to its average volume of 5,255,561. Hut 8 Corp. has a 12-month low of $14.74 and a 12-month high of $112.26. 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 firm has a market cap of $12.20 billion, a price-to-earnings ratio of -36.11 and a beta of 4.48. The stock has a 50 day moving average price of $64.68 and a 200 day moving average price of $54.96.
Hedge Funds Weigh In On Hut 8
Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC acquired a new position in shares of Hut 8 in the fourth quarter worth $30,000. Imprint Wealth LLC acquired a new position in Hut 8 during the 4th quarter worth $38,000. Harbor Investment Advisory LLC acquired a new position in Hut 8 during the 1st quarter worth $47,000. Activest Wealth Management acquired a new position in Hut 8 during the 4th quarter worth $49,000. Finally, Danske Bank A S acquired a new position in Hut 8 during the 4th quarter worth $51,000. Institutional investors and hedge funds own 31.75% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. Wall Street Zen cut shares of Hut 8 from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Northland Securities set a $120.00 target price on shares of Hut 8 in a research report on Thursday, May 7th. B. Riley Financial upped their target price on shares of Hut 8 from $76.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday. Canaccord Genuity Group upped their target price on shares of Hut 8 from $70.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Arete Research assumed coverage on shares of Hut 8 in a research report on Monday, March 23rd. They issued a “buy” rating and a $136.00 target price on the stock. Sixteen analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Hut 8 currently has an average rating of “Moderate Buy” and an average price target of $104.88.
Check Out Our Latest Research Report on Hut 8
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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