Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Hut 8 Corp shares valued at $89,427 were sold by Flinn Joseph on Aug 16 ’24. At $11.74 per share, Flinn Joseph sold 7,618 shares. The insider’s holdings dropped to 11,861 shares worth approximately $0.22 million following the completion of this transaction.
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Also, Flinn Joseph purchased 7,618 shares, netting a total of over 89,427 in proceeds.
Before that, Visram Shenif had sold 20,239 shares from its account. In a trade valued at $270,705, the Chief Financial Officer traded Hut 8 Corp shares for $13.38 each. Upon closing the transaction, the insider’s holdings decreased to 20,239 shares, worth approximately $0.8 million.
As published in a research note from H.C. Wainwright on August 14, 2024, Hut 8 Corp [HUT] has been rated up from a Sell to a Buy and the price target has been revised to $13.50 from $7.50. Analysts at Craig Hallum upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid May. As of April 22, 2024, The Benchmark Company has initiated its “Buy” rating for HUT. Earlier on March 18, 2024, Needham initiated its rating. Their recommendation was “a Buy” for HUT stock.
Analyzing HUT Stock Performance
During the last five days, there has been a surge of approximately 20.15%. Over the course of the year, Hut 8 Corp shares have jumped approximately 36.09%. Shares of the company reached a 52-week high of $21.10 on 07/16/24 and a 52-week low of $6.18 on 01/19/24. A 50-day SMA is recorded $12.16, while a 200-day SMA reached $10.87. Nevertheless, trading volume fell to 6.56 million shares from 8.23 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 17.08, which, if violated, would cause prices to drop to 16.00. In the upper region, resistance lies at 18.81. The next price resistance is at 19.46. RSI (Relative Strength Index) is 75.67 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.90, which suggests the price will increase in the coming days. Percent R is at 3.16%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Which companies own the most shares of Hut 8 Corp (HUT)?
On February 06, 2024, H.C. Wainwright assigned a price target of “a Sell” to the stock and downgraded coverage with a $5.50.
