The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Hut 8 Corp shares valued at $145,940 were sold by Visram Shenif on May 09 ’24. At $8.15 per share, Visram Shenif sold 17,905 shares. The insider’s holdings dropped to 30,865 shares worth approximately $0.36 million following the completion of this transaction.
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Also, Leverton Jaime sold 35,761 shares, netting a total of over 361,261 in proceeds. Following the sale of shares at $10.10 each, the insider now holds 269,415 shares.
Before that, Leverton Jaime had sold 98,724 shares from its account. In a trade valued at $1,402,957, the Chief Executive Officer traded Hut 8 Corp shares for $14.21 each. Upon closing the transaction, the insider’s holdings decreased to 98,724 shares, worth approximately $2.75 million.
As published in a research note from Craig Hallum on May 16, 2024, Hut 8 Corp [HUT] has been rated up from a Hold to a Buy and the price target has been revised to $12. Analysts at The Benchmark Company started covering the stock with ‘”a Buy”‘ outlook in a report released in late April. As of March 18, 2024, Needham has initiated its “Buy” rating for HUT. Earlier on February 06, 2024, H.C. Wainwright downgraded its rating. Their new recommendation was “a Sell” for HUT stock which previously was a “a Neutral”.
Analyzing HUT Stock Performance
During the last five days, there has been a surge of approximately 9.93%. Over the course of the year, Hut 8 Corp shares have dropped approximately -13.72%. 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 $8.86, while a 200-day SMA reached $9.64. Nevertheless, trading volume fell to 6.77 million shares from 7.97 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 10.85, which, if violated, would cause prices to drop to 10.18. In the upper region, resistance lies at 12.01. The next price resistance is at 12.50. RSI (Relative Strength Index) is 68.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.07, which suggests the price will increase in the coming days. Percent R is at 9.97%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of Hut 8 Corp (HUT)?
On December 09, 2022, H.C. Wainwright assigned a price target of “a Neutral” to the stock and resumed coverage with a $1.50.
