Hut 8 (TSE:HUT) Shares Down 0.4% – Here’s What Happened

Hut 8 Corp. (TSE:HUT)’s stock price was down 0.4% during trading on Monday . The stock traded as low as C$16.50 and last traded at C$16.72. Approximately 1,335,460 shares were traded during trading, a decline of 8% from the average daily volume of 1,453,638 shares. The stock had previously closed at C$16.79.

Wall Street Analyst Weigh In

HUT has been the topic of several research analyst reports. Cantor Fitzgerald raised Hut 8 to a “strong-buy” rating in a research note on Monday, December 9th. Keefe, Bruyette & Woods upgraded shares of Hut 8 to a “moderate buy” rating in a research note on Wednesday, January 8th. Finally, Rosenblatt Securities raised shares of Hut 8 to a “strong-buy” rating in a research report on Friday, March 7th. Four research analysts have rated the stock with a strong buy rating, Based on data from MarketBeat, the stock has an average rating of “Strong Buy”.

Hut 8 Trading Up 0.5 %

The firm has a market cap of C$1.28 billion, a price-to-earnings ratio of 4.69 and a beta of 3.45. 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 business has a 50 day moving average price of C$24.21 and a 200-day moving average price of C$26.94.

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.