Roth Capital Upgrades Hut 8 (TSE:HUT) to “Strong-Buy”

Hut 8 (TSE:HUT) was upgraded by stock analysts at Roth Capital to a “strong-buy” rating in a report issued on Wednesday, Zacks reports.

A number of other research firms have also recently weighed in on HUT. Freedom Broker raised shares of Hut 8 to a “strong-buy” rating in a research note on Tuesday, August 18th. UBS Group upgraded shares of Hut 8 to a “strong-buy” rating in a research report on Wednesday, September 23rd. Wells Fargo & Company raised shares of Hut 8 to a “strong-buy” rating in a report on Thursday, September 17th. Rothschild & Co Redburn upgraded shares of Hut 8 to a “hold” rating in a research report on Monday, September 21st. Finally, Freedom Capital raised Hut 8 to a “strong-buy” rating in a research note on Tuesday, August 18th. Eight research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Hut 8 currently has a consensus rating of “Strong Buy”.

Hut 8 Trading Down 11.3%

TSE:HUT opened at C$113.06 on Wednesday. Hut 8 has a 1 year low of C$44.82 and a 1 year 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. The stock has a fifty day moving average price of C$126.47 and a two-hundred day moving average price of C$130.37. The stock has a market capitalization of C$12.73 billion, a price-to-earnings ratio of -20.94 and a beta of 4.58.

Hedge Funds Weigh In On Hut 8

An institutional investor recently bought a new position in Hut 8 stock. Dockside LLC bought a new position in shares of Hut 8 Corp. (TSE:HUT) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,252 shares of the company’s stock, valued at approximately $722,000. Institutional investors and hedge funds own 39.85% of the company’s stock.

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.