Hut 8 (TSE:HUT) Raised to Strong-Buy at HC Wainwright

Hut 8 (TSE:HUT) was upgraded by analysts at HC Wainwright to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Separately, Keefe, Bruyette & Woods raised shares of Hut 8 to a “moderate buy” rating in a research note on Tuesday, January 27th. Eight research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Strong Buy”.

Hut 8 Price Performance

Shares of HUT stock opened at C$76.76 on Monday. The stock has a 50-day moving average price of C$69.80 and a 200 day moving average price of C$55.10. The company has a quick ratio of 1.26, a current ratio of 1.68 and a debt-to-equity ratio of 55.87. The firm has a market cap of C$8.29 billion, a price-to-earnings ratio of 41.05 and a beta of 4.58. Hut 8 has a 12 month low of C$14.28 and a 12 month high of C$89.34.

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.