Hut 8 (TSE:HUT) Shares Down 5.9% – What’s Next?

Hut 8 Corp. (TSE:HUT)’s share price was down 5.9% during trading on Thursday . The company traded as low as C$169.78 and last traded at C$172.35. Approximately 74,366 shares traded hands during trading, a decline of 93% from the average daily volume of 1,021,496 shares. The stock had previously closed at C$183.13.

Analyst Ratings Changes

Separately, Jefferies Financial Group upgraded Hut 8 to a “strong-buy” rating in a research note on Thursday, May 14th. Three analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Strong Buy”.

Hut 8 Price Performance

The company has a 50 day moving average of C$115.19 and a 200-day moving average of C$85.27. The firm has a market capitalization of C$19.80 billion, a P/E ratio of -62.35 and a beta of 4.58. The company has a current ratio of 0.86, a quick ratio of 1.26 and a debt-to-equity ratio of 30.65.

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.