Hut 8 (TSE:HUT) Rating Increased to Strong-Buy at Maxim Group

Hut 8 (TSE:HUT – Get Free Report) was upgraded by equities research analysts at Maxim Group to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

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

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Hut 8 Price Performance

Hut 8 stock opened at C$129.87 on Wednesday. The stock has a 50-day moving average price of C$156.51 and a two-hundred day moving average price of C$113.75. Hut 8 has a 12 month low of C$25.68 and a 12 month high of C$194.28. The company has a market capitalization of C$16.01 billion, a PE ratio of -46.05 and a beta of 4.58. The company has a current ratio of 0.86, a quick ratio of 1.25 and a debt-to-equity ratio of 30.65.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Hut 8 stock. Dockside LLC bought a new stake in shares of Hut 8 Corp. (TSE:HUT – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,252 shares of the company’s stock, valued at approximately $722,000. 37.66% of the stock is currently owned by institutional investors and hedge funds.

Hut 8 Company Profile

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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.

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