Hut 8 (TSE:HUT) Trading 6.9% Higher – Should You Buy?

by · The Markets Daily

Hut 8 Corp. (TSE:HUT – Get Free Report) shot up 6.9% during trading on Thursday . The company traded as high as C$169.36 and last traded at C$165.13. 402,752 shares changed hands during trading, a decline of 54% from the average daily volume of 882,354 shares. The stock had previously closed at C$154.46.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group upgraded shares of Hut 8 to a “strong-buy” rating in a report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Strong Buy”.

View Our Latest Stock Report on Hut 8

Hut 8 Trading Up 8.0%

The firm’s 50 day simple moving average is C$156.36 and its 200-day simple moving average is C$109.14. The company has a market capitalization of C$18.78 billion, a PE ratio of -59.13 and a beta of 4.58. The company has a quick ratio of 1.25, a current ratio of 0.86 and a debt-to-equity ratio of 30.65.

Hut 8 Company Profile

(Get Free Report)

Hut 8 Mining Corp is North America’s innovation-focused digital asset miner. Located in energy-rich Alberta, Canada. Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined bitcoin than any crypto miner or publicly-traded company globally. It is executing on its commitment to mining and holding bitcoin and has a diversified business and revenue strategy to grow and protect shareholder value regardless of bitcoin’s market direction.

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