Hut 8 (TSE:HUT) Rating Increased to Hold at Rothschild & Co Redburn

Rothschild & Co Redburn upgraded shares of Hut 8 (TSE:HUT – Free Report) to a hold rating in a report released on Monday,Zacks reports.

Several other research analysts have also recently weighed in on HUT. Freedom Capital raised shares of Hut 8 to a “strong-buy” rating in a report on Tuesday, August 18th. Maxim Group upgraded Hut 8 to a “strong-buy” rating in a research report on Wednesday, August 5th. Wells Fargo & Company upgraded Hut 8 to a “strong-buy” rating in a research note on Thursday, September 17th. Finally, Freedom Broker upgraded shares of Hut 8 to a “strong-buy” rating in a research report on Tuesday, August 18th. Six research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hut 8 presently has an average rating of “Strong Buy”.

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Hut 8 Stock Performance

Hut 8 stock opened at C$145.10 on Monday. Hut 8 has a 1-year low of C$44.82 and a 1-year high of C$194.28. The company has a current ratio of 0.86, a quick ratio of 1.25 and a debt-to-equity ratio of 30.65. The firm has a market capitalization of C$16.34 billion, a PE ratio of -26.87 and a beta of 4.58. The firm’s 50 day simple moving average is C$129.79 and its 200 day simple moving average is C$124.57.

Institutional Trading of Hut 8

An institutional investor recently bought a new position in Hut 8 stock. Dockside LLC bought a new stake in Hut 8 Corp. (TSE:HUT – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,252 shares of the company’s stock, valued at approximately $722,000. 39.04% 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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