Hut 8 (TSE:HUT) Sets New 52-Week High – Here’s What Happened

Hut 8 Corp. (TSE:HUT) reached a new 52-week high during trading on Tuesday . The company traded as high as C$107.84 and last traded at C$107.81, with a volume of 990676 shares trading hands. The stock had previously closed at C$102.61.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. HC Wainwright raised shares of Hut 8 to a “strong-buy” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods raised shares of Hut 8 to a “moderate buy” rating in a research note on Tuesday, January 27th. Five equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, Hut 8 has an average rating of “Strong Buy”.

Hut 8 Stock Performance

The stock’s 50 day moving average price is C$76.33 and its 200 day moving average price is C$70.38. The company has a current ratio of 1.09, a quick ratio of 1.26 and a debt-to-equity ratio of 31.34. The company has a market cap of C$12.24 billion, a price-to-earnings ratio of -51.57 and a beta of 4.58.

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.