Hut 8 Corp. (TSE:HUT) Stock Now Rated “Strong Buy” by Sell-Side Analysts

Shares of Hut 8 Corp. (TSE:HUT) have been given a consensus rating of “Strong Buy” by the ten analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, one has given a buy recommendation and eight have issued a strong buy recommendation on the company.

Several equities analysts have recently issued reports on the company. UBS Group raised Hut 8 to a “strong-buy” rating in a report on Wednesday, September 23rd. Rothschild & Co Redburn raised Hut 8 to a “hold” rating in a report on Monday, September 21st. Wells Fargo & Company raised Hut 8 to a “strong-buy” rating in a report on Thursday, September 17th. Freedom Broker upgraded Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Finally, Maxim Group upgraded Hut 8 to a “strong-buy” rating in a research report on Wednesday, August 5th.

Hut 8 Stock Performance

TSE HUT opened at C$119.09 on Wednesday. The stock has a 50-day simple moving average of C$124.76 and a two-hundred day simple moving average of C$131.33. The firm has a market capitalization of C$14.68 billion, a P/E ratio of -22.05 and a beta of 4.58. Hut 8 has a fifty-two week low of C$44.82 and a fifty-two week high of C$194.28. The company has a debt-to-equity ratio of 30.65, a quick ratio of 1.25 and a current ratio of 0.86.

Institutional Investors Weigh In On Hut 8

An institutional investor recently bought a new stake in Hut 8 stock. Dockside LLC acquired a new position in shares of Hut 8 Corp. (TSE:HUT) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 6,252 shares of the company’s stock, valued at approximately $722,000. Hedge funds and other institutional investors own 39.71% of the company’s stock.

About Hut 8

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.