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Taking a look at what insiders are doing to gauge the Hut 8 Corp (HUT)’s direction

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Hut 8 Corp shares valued at $361,261 were sold by Leverton Jaime on Jan 12 ’24. At $10.10 per share, Leverton Jaime sold 35,761 shares. The insider’s holdings dropped to 269,415 shares worth approximately $2.15 million following the completion of this transaction.

Also, Leverton Jaime sold 98,724 shares, netting a total of over 1,402,957 in proceeds. Following the sale of shares at $14.21 each, the insider now holds 238,509 shares.

Before that, Amdiss Aniss had sold 18,513 shares from its account. In a trade valued at $263,086, the Chief Legal Officer traded Hut 8 Corp shares for $14.21 each. Upon closing the transaction, the insider’s holdings decreased to 18,513 shares, worth approximately $0.19 million.

As published in their initiating research note from The Benchmark Company on April 22, 2024, Hut 8 Corp [HUT] has been a Buy and the price target has been revised to $12. Analysts at Needham started covering the stock with ‘”a Buy”‘ outlook in a report released in mid March. As of February 06, 2024, H.C. Wainwright has decreased its “Neutral” rating to a “Sell” for HUT.

Analyzing HUT Stock Performance

During the last five days, there has been a drop of approximately -11.02%. Over the course of the year, Hut 8 Corp shares have dropped approximately -40.10%. Shares of the company reached a 52-week high of $15.07 on 01/02/24 and a 52-week low of $6.18 on 01/19/24. A 50-day SMA is recorded $8.53, while a 200-day SMA reached $10.54. Nevertheless, trading volume fell to 3.21 million shares from 2.46 million shares the previous day.

Support And Resistance Levels for Hut 8 Corp (HUT)

According to the 24-hour chart, there is a support level at 7.62, which, if violated, would cause prices to drop to 7.24. In the upper region, resistance lies at 8.42. The next price resistance is at 8.84. RSI (Relative Strength Index) is 44.72 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.17, which suggests the price will decrease in the coming days. Percent R is at 64.00%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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