Hut 8 (TSE:HUT) Stock Price Down 10% – Here’s Why

by · The Cerbat Gem

Hut 8 Corp. (TSE:HUT – Get Free Report)’s share price was down 10% during mid-day trading on Tuesday . The stock traded as low as C$54.12 and last traded at C$54.89. Approximately 422,291 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 1,542,385 shares. The stock had previously closed at C$60.97.

Hut 8 Stock Performance

The company has a market capitalization of C$6.45 billion, a PE ratio of 31.95 and a beta of 4.58. The company has a debt-to-equity ratio of 55.87, a quick ratio of 1.26 and a current ratio of 1.68. The business’s 50-day moving average is C$60.43 and its 200-day moving average is C$41.06.

About Hut 8

(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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