Hut 8 (TSE:HUT) Trading Up 11.9% – Should You Buy?
by Sarita Garza · The Markets DailyHut 8 Corp. (TSE:HUT – Get Free Report) shot up 11.9% on Wednesday . The company traded as high as C$82.89 and last traded at C$81.87. 162,203 shares changed hands during trading, a decline of 86% from the average session volume of 1,150,959 shares. The stock had previously closed at C$73.18.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on HUT. Keefe, Bruyette & Woods upgraded Hut 8 to a “moderate buy” rating in a research report on Tuesday, January 27th. HC Wainwright upgraded Hut 8 to a “strong-buy” rating in a research report on Monday, February 2nd. Seven analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Strong Buy”.
View Our Latest Analysis on Hut 8
Hut 8 Stock Up 10.9%
The stock has a 50-day simple moving average of C$71.44 and a two-hundred day simple moving average of C$66.85. The company has a quick ratio of 1.26, a current ratio of 1.09 and a debt-to-equity ratio of 31.34. The firm has a market cap of C$9.00 billion, a PE ratio of -37.93 and a beta of 4.58.
Hut 8 Company Profile
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.