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 $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 $0.28 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 $1.05 million.
As published in their initiating research note from Piper Sandler on December 17, 2024, Hut 8 Corp [HUT] has been an Overweight and the price target has been revised to $33. Analysts at Cantor Fitzgerald started covering the stock with ‘”an Overweight”‘ outlook in a report released in early December. As of August 14, 2024, H.C. Wainwright has increased its “Sell” rating to a “Buy” for HUT. Earlier on May 16, 2024, Craig Hallum upgraded its rating. Their new recommendation was “a Buy” for HUT stock which previously was a “a Hold”.
Analyzing HUT Stock Performance
During the last five days, there has been a drop of approximately -8.57%. Over the course of the year, Hut 8 Corp shares have jumped approximately 79.09%. Shares of the company reached a 52-week high of $31.95 on 12/06/24 and a 52-week low of $6.18 on 01/19/24. A 50-day SMA is recorded $22.29, while a 200-day SMA reached $14.02. Nevertheless, trading volume fell to 3.04 million shares from 4.96 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 23.26, which, if violated, would cause prices to drop to 22.63. In the upper region, resistance lies at 24.56. The next price resistance is at 25.23. RSI (Relative Strength Index) is 47.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.91, which suggests the price will decrease in the coming days. Percent R is at 77.58%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
