Rick Rickertsen Sells 17,491 Shares of Hut 8 (NASDAQ:HUT) Stock

Hut 8 Corp. (NASDAQ:HUT) Director Rick Rickertsen sold 17,491 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $110.00, for a total value of $1,924,010.00. Following the completion of the transaction, the director owned 17,491 shares in the company, valued at $1,924,010. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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 Stock Up 1.0%

HUT stock opened at $109.37 on Friday. Hut 8 Corp. has a twelve month low of $14.74 and a twelve 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 stock’s 50 day moving average is $65.92 and its 200-day moving average is $55.39. The firm has a market capitalization of $12.31 billion, a PE ratio of -36.46 and a beta of 4.48.

Hut 8 (NASDAQ:HUT) last posted its earnings results on Wednesday, May 6th. The company reported ($1.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($1.65). Hut 8 had a negative net margin of 109.77% and a negative return on equity of 0.35%. The company had revenue of $139.31 million during the quarter, compared to the consensus estimate of $78.53 million. Sell-side analysts expect that Hut 8 Corp. will post -1.5 EPS for the current fiscal year.

Analysts Set New Price Targets

HUT has been the topic of a number of recent analyst reports. B. Riley Financial lifted their price target on Hut 8 from $76.00 to $130.00 and gave the stock a “buy” rating in a report on Wednesday. Wall Street Zen lowered Hut 8 from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Citizens Jmp lifted their price target on Hut 8 from $100.00 to $140.00 and gave the stock a “market outperform” rating in a report on Thursday, May 7th. Rosenblatt Securities lifted their price target on Hut 8 from $89.00 to $124.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Weiss Ratings lowered Hut 8 from a “sell (d+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Seventeen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Hut 8 has an average rating of “Moderate Buy” and a consensus price target of $107.72.

Hedge Funds Weigh In On Hut 8

Several hedge funds have recently made changes to their positions in HUT. Northwestern Mutual Wealth Management Co. grew its position in shares of Hut 8 by 4,669,387.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,062,454 shares of the company’s stock valued at $186,629,000 after purchasing an additional 4,062,367 shares in the last quarter. SRS Investment Management LLC purchased a new position in shares of Hut 8 in the fourth quarter valued at $131,838,000. Sachem Head Capital Management LP purchased a new position in shares of Hut 8 in the fourth quarter valued at $129,780,000. Ameriprise Financial Inc. grew its position in shares of Hut 8 by 1,043.0% in the second quarter. Ameriprise Financial Inc. now owns 2,486,814 shares of the company’s stock valued at $46,255,000 after purchasing an additional 2,269,237 shares in the last quarter. Finally, Oasis Management Co Ltd. grew its position in shares of Hut 8 by 231.5% in the fourth quarter. Oasis Management Co Ltd. now owns 2,307,683 shares of the company’s stock valued at $106,015,000 after purchasing an additional 1,611,653 shares in the last quarter. 31.75% of the stock is currently owned by hedge funds and other 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.