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Checking in on Hut 8 Corp (HUT) after recent insiders movement

Hut 8 Corp’s recent filing unveils that its Chief Financial Officer Visram Shenif unloaded Company’s shares for reported $0.15 million on May 09 ’24. In the deal valued at $8.15 per share,17,905 shares were sold. As a result of this transaction, Visram Shenif now holds 30,865 shares worth roughly $0.25 million.

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Then, Leverton Jaime sold 35,761 shares, generating $361,261 in total proceeds. Upon selling the shares at $10.10, the Chief Executive Officer now owns 269,415 shares.

Before that, Leverton Jaime sold 98,724 shares. Hut 8 Corp shares valued at $1,402,957 were divested by the Chief Executive Officer at a price of $14.21 per share. As a result of the transaction, Leverton Jaime now holds 238,509 shares, worth roughly $1.91 million.

The Benchmark Company initiated its Hut 8 Corp [HUT] rating to a Buy in a research note published on April 22, 2024; the price target was $12. A number of analysts have revised their coverage, including Needham’s analysts, who began to cover the stock in mid March with a ‘”a Buy”‘ rating. H.C. Wainwright also remained covering HUT and has decreased its forecast on February 06, 2024 with a “Sell” recommendation from previously “Neutral” rating.

Price Performance Review of HUT

On Friday, Hut 8 Corp [NASDAQ:HUT] saw its stock fall -1.96% to $7.99. Over the last five days, the stock has lost -3.39%. Hut 8 Corp shares have fallen nearly -40.10% since the year began. Nevertheless, the stocks have fallen -12.68% over the past one year. While a 52-week high of $22.75 was reached on 01/02/24, a 52-week low of $6.18 was recorded on 01/19/24. SMA at 50 days reached $8.47, while 200 days put it at $10.19. A total of 1.63 million shares were traded, compared to the trading of 1.81 million shares in the previous session.

Levels Of Support And Resistance For HUT Stock

The 24-hour chart illustrates a support level at 7.79, which if violated will result in even more drops to 7.58. On the upside, there is a resistance level at 8.29. A further resistance level may holdings at 8.58. The Relative Strength Index (RSI) on the 14-day chart is 45.07, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.34, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 85.24%. Stochastics %K at 20.29% indicates the stock is a holding.

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