Hut 8 (TSE:HUT) Reaches New 12-Month High – What’s Next?

Hut 8 Corp. (TSE:HUT)’s stock price hit a new 52-week high on Thursday . The company traded as high as C$92.52 and last traded at C$86.92, with a volume of 380725 shares traded. The stock had previously closed at C$84.94.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on HUT shares. Keefe, Bruyette & Woods raised shares of Hut 8 to a “moderate buy” rating in a report on Tuesday, January 27th. HC Wainwright upgraded shares of Hut 8 to a “strong-buy” rating in a research report on Monday, February 2nd. Seven analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat, Hut 8 has a consensus rating of “Strong Buy”.

Hut 8 Stock Performance

The company has a market capitalization of C$9.98 billion, a P/E ratio of -42.07 and a beta of 4.58. The business has a 50-day moving average of C$71.39 and a 200-day moving average of C$66.98. The company has a debt-to-equity ratio of 31.34, a current ratio of 1.09 and a quick ratio of 1.26.

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.